Read this if you’re worried about this market dump‼️
- Yello ladies and gents🚬😎🥃
💎Yesterday, we saw the biggest liquidation event in the last 2 weeks. If you are following us carefully, this dump did not harm you, because you know from our previous posts and particularly this one 👉 https://t.me/MCP_binance/4291 that on our way above $120k+ we will be shaking out most of the players who are trying to get rich quick with high leverage, and that spot and low leverage remains the best probability strategy for this market cycle right now. As always, only the minority will come out of this bull market with profits in the end. Be among the winners and practice your patience and discipline while trading.
💎This little flash crash was caused by the Everglade fears and the stock market uncertainty. Funding reset, all around the crypto board, well-orchestrated by the whales. They made most of the retail open long positions at the resistance on the fake breakout yesterday and then pushed the red button on the fresh longs causing a long squeeze. BTC ended back on 4h support – 50EMA and kijun confluence. If you are managing your portfolio diversification well enough, you had some dry powder to profit on these buy the dip opportunities and opened some excellent swing plays for yourself targeting big moves on some strong coins like 90% plus on the spot.
💎The Bitcoin bought on this dip at cheaper prices by whales based on the on-chain data left the exchanges rather quickly, and the BTC balance on exchanges is now at a 3-years low. Smart money keeps on increasing and staking their BTCs in hardware wallets for the long term. In an even better position is now #Ethereum as the ETH supply doesn’t increase anymore (after the London hard-fork). Just like Bitcoin, ETH is now freshly a scarce asset with limited supply and looking to dominate the market in the long term future!
💎The inflation around the world keeps on increasing prices are rising for food, energy, shelter, used cars and new cars, but the traditional “safe” investments such as real-estate in cities start to decrease; it’s even wiser to buy a house in metaverse than in real life right now if you are looking for some long-term investment outside of crypto.
💎Jokes aside, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.9 percent in October on a seasonally adjusted basis after rising 0.4 percent in September. CPI YOY is now 6.2% which is the highest since 1990. FED will respond hawkish, so we will see what the market weighs more, real inflation or the monetary policy in response. Bitcoin acts like safe heaven if you zoom out, and big boys continue to hide their wealth in crypto.
💎And finally, let’s take a look at ADA. As you can see on the chart below, technically, ADA is doing very well; yesterday, the dump sent ADA to the 0.618 liquidation pool, which should have added enough fuel for the next leg up in the upcoming days/weeks. We are currently retesting the key level, which is working as an excellent demand zone. We saw a consolidation breakdown followed by a 200EMA touch and a bounce back above the consolidation – essentially a fakeout. BTC and Evergrande shenanigans giving a pretty good price to buy ADA here, not speaking about the fundamental stuff, which is looking pretty good for this excellent but forgotten by many people crypto project called #Cardano.