Kim & Crypto

2023-05-08 19:33:22 Surprise

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2023-05-08 19:14:53 #REVIEW BITCOIN

So the reason of the dump was quite dumb. However, technical analysis doesn't care about the actual reasons!

$27800 level is the line on the sand. If bulls maintain to protect it, we will see a bounce back up.

However, if the price fixes below $27800, the dump will be brutal! That's why upward arrow is dotted and downward arrow is bold. Open / Comment

2023-05-08 12:22:26 So what actually happened with Bitcoin?

1. Bitcoin Ordinals updated BRC-20 network
2. A lot of tokens were created there and a lot of transactions provided
3. The network couldn't cope with all these transactions, so fees started to rise and mempool puffed up
4. Binance closed withdrawals, as standard transaction fee became too low
5. Dumbass users thought that Binance is trying to scam them and started to sell #BTC hard only to withdraw money from Binance
6. After Binance opened withdrawals again, a lot of people also withdrew ton of #BTC because they were scared

In a nutshell, Binance users dumped #BTC price hard because they don't understand how a blockchain works. Astonishing, isn't it? Open / Comment

2023-05-08 10:36:00 Big #BTC CME gap left above the price! Open / Comment

2023-05-08 10:08:14 #BTC blockchain is struggling with enormous amount of transactions. After Aprils update of BRC-20 on Bitcoin Ordinals, a lot of tokens were created and messed the whole network.

Imo Bitcoin is too old and slow for being a competitor of Ethereum ERC-20 network. Fees are already high in BTC network and most likely they will be even higher! Open / Comment

2023-05-07 17:19:12 Next week will be super important for stocks and crypto, as CPI comes out on Wednesday! Open / Comment

2023-05-06 21:04:39 Kim & Crypto pinned a photo Open / Comment

2023-05-06 14:46:47 I've seen quite a lot of posts about #BTC bear flag. Guys, this is not how bear flag forms!

This is an upward channel with good buying volumes! The price continuously makes new local highs and sets new support levels. Also recent high is already above $29700 level, where the initial dump started.

Don't try to short this! Instead, buy the dips if you are still in dollar! Open / Comment

2023-05-06 12:35:21 #ETH has hit 0.0671 level, but hasn't fixed above. Without that fixation I can't consider Ethereum bullish! Open / Comment

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