Cmon guys - No one should have longed this move. This was pointed out on Oct 30th on the chart below that its strong double MA bearish setup and its at resistance also -plus its sitting right below the MA200 !
This has a very high probability that it was going to break down at this location to the 18k area as this action has resulted in the same movement down in the past.
This has a very high probability that it was going to break down at this location to the 18k area as this action has resulted in the same movement down in the past.
Note
On another note here is something interesting . Looking at look at the chart below we can see BTC is following the lines on the graph below and predict the next move location,For example the chart shows that when BTC has hit the yellow line from below in the past it always drops back to the red line and this is exactly what just happened.
Very interesting stuff if you ask me as that chart can be used as a template.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.