Bitcoin has dumped, but maybe hold off longing at these exact levels. The previous dump went to the bottom of the EMA ribbon, at was about 31%, and if we repeat the trend here this dump may still have some steam left. Although it is suspected that a Kraken price-matcning glitch was responsible for the flash wick down to 47k, now there is a genuine selloff happening that has turned Bitcoin bearish for the short term. If we are hitting the bottom of this EMA ribbon, around 39-41k, this could be a great entry price for a long position, based on the assumption that the bull cycle still has a lot of steam left.
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