2023-02-27 00:04:59
FREE MARKET UPDATE Are You Prepared for The New Cycle? Yello, ladies and gents
Because we are in this crypto trading game for too long already, we know that long-term profitability success stands in anticipating market corrections. That's why we've been actively closing our long and spot positions with
ParadiseFamilyVIP members for
over 7 days ago already, taking advantage of the market top before the expected downturn which is happening right now. And you have been informed about that, also in our free telegram result channel!
Moreover, in our latest video shared exclusively in our free telegram stream channel, we provided you with our Bitcoin sell/short idea. This idea was presented when Bitcoin reached the resistance level of around
$25,200. This resistance we highlighted
1 month ago in our previous free DOGE analysis HERE.
While others were gripped by bearish sentiment, the
ParadiseTeam remained steadfast in our bullish outlook. We were ahead of the curve when we predicted the
bottom at $16k in our free secret insight on 24th December. While many were selling off, we saw the bigger picture and shared our precise reasoning for why
$16k is the HTF bottom zone.
In our
previous free analysis
(1 month ago), we also told you that
“some of the altcoins are about to have one of the greatest rallies of their time” this prediction also went very well as Doge has already pumped from the major support zone for around 16% profit and after touching our LTF resistance highlighted in the chart, it has started to correct back down to the major support where it sits
right now. Together with other strong alts, we took profit on with
ParadiseFamilyVIPs already, as you know from our result channel we are quite happy with the month-long disbelief rally in the market, which proved many wrong and
made money to others.
Yes, Bitcoin
perfectly reached the resistance at $25,200, which we mentioned in our previous free update, before starting to correct. But It's important to note that this resistance
it has yet to be broken! On the first touch, it would require a lot of bullish news to support the pump and break the strong supply zone. However, the opposite happened, as market makers started spreading FUD about Binance BUSD right at our resistance!
If you have been keeping up with our free telegram news channel, you might have come across the chaos caused by the recent bearish news on BUSD. The news generated significant FUD in the market, leading to a staggering $2 billion net outflow of BUSD, as seen in the graph HERE. This depletion caused the BUSD reserve to hit its lowest level since December 2021, and it currently stands at only
12.474 billion.
Most of the funds have moved to USDT, which has become the
most reliable and trusted stablecoin in the market, with a market capitalisation of
70.1 billion dollars. USDC comes in second with an MC of
41.5 billion dollars. Although the BUSD bearish news caused panic and wiped out $2 billion in Binance, it didn't have the same immediate impact as other less bearish news in the
previous year that caused more chaos and faster reactions. Interestingly, people were stubborn and even opened many long positions right at the $25k resistance, which we warned against doing in our videos as a bad idea that would lead with a higher probability to a loss.
From a
long-term perspective, the increasing demand for cryptocurrencies is a positive sign. People are becoming more resilient to negative news events. However, as professional traders, we must remain cautious. At
ParadiseFamilyVIP, we follow our
defensive trading strategy rules, and we withdrew our profits and closed most of our long positions and spot trades as a precaution. We accurately predicted the total bottom of Bitcoin at $16,800 on December 24th, and we don't anticipate the price to drop below that level this year. But to maximise our profits, we must also consider Short and
Medium Time-Frame (MTF) market cycles. And from the MTF view, we expect this correction to continue for a bit longer.
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