Would continue my previous two posts,bitcoin price now in phase(C)what we know about this phase???
Phase C:
During phase C, spring (shakeout)the price below the support level of the trading range quickly reverses and moves back into the trading range.You can consider spring as a period of the coin below the support zone to attract traders and investors.Its a final attempt to purchase the coin at the lowest rates before the rates rise again.its also notable that the bear trap attracts inexperienced investors to sell coins at low rates and wait the dump which evantually does not occur and price instead rise from that point without actually reaching that dumping point.In simple terms, spring (shakeout)is not always useful as trading volume remains unpredictable.
Phase C:
During phase C, spring (shakeout)the price below the support level of the trading range quickly reverses and moves back into the trading range.You can consider spring as a period of the coin below the support zone to attract traders and investors.Its a final attempt to purchase the coin at the lowest rates before the rates rise again.its also notable that the bear trap attracts inexperienced investors to sell coins at low rates and wait the dump which evantually does not occur and price instead rise from that point without actually reaching that dumping point.In simple terms, spring (shakeout)is not always useful as trading volume remains unpredictable.
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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.