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Analyst at Tom Lee's Fund: Cryptocurrency Has Not Yet Peaked
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ChainCatcher news, Fundstrat Technical Strategy Director Mark Newton CMT posted on X stating that he disagrees with the view that cryptocurrencies have peaked, and listed five reasons:
- The Elliott Wave structure does not show signs of peaking;
- The monthly DeMark signal is not yet in place;
- The MACD indicator turning negative due to sideways consolidation is not decisive;
- The medium-term upward trend since 2022 has not been broken;
- Market sentiment is far from reaching the levels that typically mark a meaningful market peak.
He added that he is watching for signals confirming that ETH and BTC prices have bottomed.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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