As you have read from the title, I personally see two paths going forward after the 200 MA rejection. This pump was a very odd one given that most of the price action is happening throughout the night and the volume is nothing impressive. It is almost like "someone" is just pumping to trap all the bulls at the top and just feeding over and over.
By the chart, you can see I have categorized basically every pump by a H&S Pattern. High or short time frame BTC is riddled with them. This is not an end-all-be-all for price action but it is something to note.
The last line of defense for this particular pump is around the 33k mark. Lets see if it holds
By the chart, you can see I have categorized basically every pump by a H&S Pattern. High or short time frame BTC is riddled with them. This is not an end-all-be-all for price action but it is something to note.
The last line of defense for this particular pump is around the 33k mark. Lets see if it holds
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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.