RE: The current Bitcoin Rally is very healthy, being fueled by Spot Market demand as opposed to Leverage
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Looks like we just got hit with a bit of a correction this morning. I am sure our feeds are going to be flooded with that most of the day!
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Yep, that was a bit surprising given the low funding rates. Though it probably means that was the lows already. On another note, wWe were due for a 30% correction anytime between $58k to about $70k, I was just hoping it would go over $60k before it started. We will see if this is the beginning of that or if it's already done.
There still seems to be a bit of uncertainty, so we could definitely head back down I guess. If this was the 30% correction the majority of it seems to have passed fairly quickly!
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Not much of correction in a psychological terms. BTC is more or less on the same level it was before the weekend (when nothing was supposed to happen).
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Yeah, for sure. I don't really feel as bad about the movement today as I thought I was going to.
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What if the corrections just begun, and this is only the bubble stage of denial, wen despair i buy!
You are going to be waiting for quite a long time...
Well, it's only been about 18% from peak to trough, so if it is the 30% correction, it's not over yet. Personally I don't think it is (a 30% correction), I think that $48k touch was the low, but it's possible it wasn't.
Good Point!
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Damp Eeeet!
Where will you buy it?
30 - 43 Looks like 40420 might be the sweet spot. It all depends, i’ll buy when this dip ends and this short little downtrend is confirmed over. I’m not really that bearish, i’m thinking shallow dip, almost done. 😅
We’re all just overreacting a little, nothing really bad even happened! I am doing fine with my trading so far, 🤞 thanks for asking 🙏