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For your information, you can find below the description of the video "This Bitcoin Bear Rally Is Normal In All Other Markets" | Gareth Soloway published by the Youtube channel Only The SAVVY:
Bitcoin cooled off a bit, as it trades for $20,817.44, down 2.2% in the past 24 hours amidst the news that Genesis plans to file bankruptcy, the latest crypto lender to be affected by the collapse of Alameda Research and Three Arrows Capital. Whether the news of Genesis moved the Bitcoin price or not is debatable, but either way, Bitcoin once again got rejected at $21,500. a level the bulls are eyeing. As a guest on the Paul Barron Network, Trader Gareth Soloway gave his take on Bitcoin’s price action, what the charts are telling him, and the importance of moving past the $21,500 for Bitcoin. Gareth’s overall outlook remains bearish but believes if Bitcoin can overcome the psychological hurdle of the FTX collapse at hold above $21,500..and there isn’t a dump out when regulation comes, then Bitcion might have seen its low, which would make his $9K prediction obsolete. Gareth also chimed in on Ethereum, which has also made some nice gains in the past week, up 10%. Gareth believes if Bitcoin can reach the $25,000 level, then Ethereum trading for $2,000 seems very reasonable.
Gareth Soloway is renowned for his macroeconomic analysis, technical chart analysis, and trade signal alerts. He has created proprietary indicators like the Confirmation Signal, River Theory, Three Tail Theory, cycle analysis and a sentiment indicator that is game-changing.
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