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- 🚀 Bitcoin Sell-Off Explained! Where Are Support Levels ??
🚀 Bitcoin Sell-Off Explained! Where Are Support Levels ??
Institutional Crypto Research Written by Experts
10x Research
March 15, 2024
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👇1-10) Bitcoin and Ethereum are experiencing a downturn today for two primary reasons.
👇2-10) Firstly, our cautious stance over a week ago indicated the fragility of specific market segments. Despite initial skepticism, our concerns regarding Bitcoin's market structure have manifested as forward-looking returns become increasingly volatile and binary after Bitcoin experienced an outside day (reaching a new high and trading below the previous day's low within the same session).
Our Analog chart from March 7
👇3-10) As a result, we closed out our trading signals model portfolio and only added two positions since then. Other parts of the market have become unpredictable, with shares of MicroStrategy trading 60-90% above fair value (regression vs. Bitcoin or based on BTC holdings).
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