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Overhead

By Tim KnightCryptocurrencySep 24, 2021 12:20AM ET
www.investing.com/analysis/overhead-200602947
Overhead
By Tim Knight   |  Sep 24, 2021 12:20AM ET
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Just yesterday morning, I did a premium post called Three Exceptions in which I told Slope’s Gold and Platinum users of the three, and only three, cryptos which I had decided to buy. All three of these worked out great, with ATOM in particularly roaring higher.

ATOM Chart
ATOM Chart

I am out of these, with good profits, and am once again totally flat. My reason has nothing to do with the charts. It has to do with context. Because as I look at the daily chart of Ethereum……….

ETH Price Chart
ETH Price Chart

…….and Bitcoin……….

BTC Price Chart
BTC Price Chart

…….I see two words flashing in giant red neon letters: OVERHEAD SUPPLY. As great as my “three exceptions” are, I am no longer comfortable hoping that they will simply defy the bearish setups that I’m seeing in the Two Kings of crypto. Perhaps I’m wrong. But I’ve stepped aside once again.

Overhead
 

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Overhead

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Ioannis Lazaridis
Ioannis Lazaridis Sep 24, 2021 4:19AM ET
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Besides charts and technical analysis allow me to add the slowing economic recovery. After March 2020 till March 2021we saw very strong growth . Now all data indicate global economic downturn . Risk-off sentiment cause heavy losses to cryptocurrencies. Thanks for sharing your experience nd your thoughts. They're in accordance with macro investment strategists' opinion.
 
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