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RE: Was this Crypto Market Rip the Answer to our Market Correlation Question?
For me I think the move was too parabolic without any justifiable reason to cause the rise. This kind of move you would expect with some sort of major news. This wasn't the case, more so short positions being squeezed which is only a temporary case. I tend to think the move back to 20k will be a more sustainable one. I think we will see some profit taking today.
Well you said the reasons there. Shorts being squeezed as price found higher time frame support.
That’s a healthy bounce for me. More so than something off a superficial news headline.