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RE: What is crypto doing? Bitcoin / Steem
Yeah, I agree that the 10k area we've hit (around the 100 day moving average) is the key area for consolidation. There is more TA that could justify further downward moves toward 7k, but I'm starting to wonder if the anticipation that has developed for reaching that low makes it much less likely to happen.
In general in crypto, I'm starting to think that when I think something is going to happen, many other people probably think that is going to happen, so it won't happen.. haha. Thanks for the content.
Yeah, that's sort of how I approach it. If on the dips below 10k, people are using those areas to accumulate, then basically, we're in a net-accumulation stage of the market. Net accumulation stages drain total supply permitting moves higher.