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Marc Somatic

@Marc_Somatic

Macro analyst #Bitcoin

 Not a financial advice.
Joined October 2020
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Photo by Marc Somatic (@Marc_Somatic)Photo by Marc Somatic (@Marc_Somatic)Photo by Marc Somatic (@Marc_Somatic)Photo by Marc Somatic (@Marc_Somatic)Photo by Marc Somatic (@Marc_Somatic)Photo by Marc Somatic (@Marc_Somatic)Photo by Marc Somatic (@Marc_Somatic)Photo by Marc Somatic (@Marc_Somatic)Photo by Marc Somatic (@Marc_Somatic)Photo by Marc Somatic (@Marc_Somatic)
What once looked like a hopeful rally is no longer just a narrative. We're coming back. Everywhere. #algo #dot
Image from Marc Somatic (@Marc_Somatic)
Image from Marc Somatic (@Marc_Somatic)
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#NEAR is finally breaking to the downside. It has lost support after ranging for a month. The same thing goes for #ZEC. It hasn't happened yet, but it's about to today.
Image from Marc Somatic (@Marc_Somatic)
Image from Marc Somatic (@Marc_Somatic)
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Marc Somatic retweeted
FunkyTown Bytes (@FTBytes) profile picture
FunkyTown Bytes
@FTBytesOct 30
Replying to @WatcherGuru
Blame it on a communist country that cannot be investigate. Done deal.
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1/3 The beginning of a recession in the US could actually mark the start of a real decline in Bitcoin's price. The bottom would probably form sometime around December or February.
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In the end, practically everyone will be in the red. I don't want to imagine what is going to happen with altcoins if Bitcoin comes back to 70k, 60k or even lower. I will personally be looking for levels -70/80% from here.
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Nor would the people following the four-year cycle narrative be right, because they only entered the market after Bitcoin had already rallied to $80K. People changed their bias in the worst possible moment.
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Neither the early investors would make money, because I don't think many people have actually taken profits. After all, almost everyone was expecting a bull market to take place.
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I wouldn't be surprised if that's how things play out. It would catch everyone off guard and completely mess up the people who are trading based on the usual market cycle timeline (repeatable cyclicality).
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Maybe the losses will be covered, but the trust is gone.
Binance (@binance) profile pictureBinance
@binanceOct 30
Binance will cover all losses. As a precaution, all deposits and withdrawals are temporarily suspended while our team conducts security checks, freezes funds, and works with law enforcement. We are working around the clock and will share a full post-mortem once the investigation is complete. Please rely only on official Binance channels for updates.
Image from Binance (@binance)
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Are you bullish now?
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I am preparing for the next leg down. I closed all my positions at breakeven. There is a lack of genuine interest in the market at these levels. If nobody wants to buy at 80+k, let's see how many people will at 70. We had our chance at 80s' and failed.
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I am longing silver.
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Marc Somatic retweeted
ReversionDesk (@ReversionDesk) profile picture
ReversionDesk
@ReversionDeskOct 7
Replying to @WatcherGuru
this cannot just bypass equities without some damage. be cautious while travelling.
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France just officially entered a recession.
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#DXY doesn't need to be commented on.
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Bitcoin is regaining its dominance, and the chart starts looking bullish once again after 2 years of doing practically nothing. Whether it will rise for the right or the wrong reason, you want to make sure you're well positioned. If Bitcoin corrects, alts will get rekt once again
Image from Marc Somatic (@Marc_Somatic)
Image from Marc Somatic (@Marc_Somatic)
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I am not expecting the final drop in October. That is something every Bear is predicting. Give it some time and let Bitcoin stand the test of time. In November, the rally we're experiencing now will be all gone. So as the profits.
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Supposedly, we're in a bull market. The problem is that people aren't buying right now. If everyone's saying that the bull market is here, but there's no buying pressure, how do you expect prices to go higher or even stay within this range if people don’t want to buy at this lvl?
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I have decided to short $ZEC. Maybe I am wrong. But for me, it has been overvalued for months. I am not going to let it slide.
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I took profits.
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