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Wisemen

BTC At Major Resistance, Regulatory Headwinds RemainSeems like we are hitting a strong bearish divergence here. Breaking down from this triangle would likely mean we go to at least 20-25k, and breaking down from that support could mean we go under $16k, and likely head towards $10k. Still seems probable that Microstrategy/Saylor are forced out of at least most of their position, more so than they already have been (via dilutive equity sales). Regulatory and systemic headwinds from the US are still weighing on the market as well, and we could see more attacks on the industry coming from the SEC, CFTC, etc. Coinbase recently received a wells notice, which means they are likely going to be sued by the SEC in the near future. This could continue to put a major damper on new money flowing in from the US.
COINBASE:BTCUSDShort
by Intuit
2
TRX Long-Term Triangle Possibly Ending NowBased on the time target for wave-E, as well as some longer term time targets, it is starting to seem more and more likely that the low is in and TRX is readying to break out to the upside. Confirmation will come when we actually break the upside of the triangle, when we have that confirmation we can be more confident that this is going to move towards all time highs early next year. For now, probabilities seem to be favoring a long-term bottom formed for cryptocurrency as long as December's low continues to hold. If we see a break of December's low then I would suspect we see more downside across the crypto markets, probably at least another -20%. At this point it is becoming increasingly dangerous to be short any major crypto unless we can get a clear break of December's lows. Unless that happens, I think the best move here is to be slightly long with tight stops under December's low, or flat until we get a better long confirmation.
KRAKEN:TRXUSDLong
by Intuit
2