I pointed out in a previous publication regarding the "June Dump Month." I'm NOT surprised to see this MAJOR consolidation occurring at the moment. I KNEW it would be some time near the first week in June. Like clockwork.
Here is the chart on BTC where I marked the January and June Dump Months:
Also, we were WAY ABOVE 80% on those indicators. Too obvious it was time to sell.
It was obviously going to drop, and I'm not talkin about btc only. ETH, and alts are not independent yet and respond dramatically to btc changes. In this case, BTC going up made alts go down, and btc going down made alts go DOWN!! -> No win situation = time to sell.
You're correct. One MUST protect their USD Capital during times such as this.
I still don't believe we are finished yet. That's my opinion. I would be surprised if we don't go down to at least $9.00 USD. I actually hope we don't go down to $9.00 or lower. If we don't and rally upward again to make a new ATH, that would tell me the current geopolitical climate I'm anticipating in the future has arrived.