This is how I see it, not financial advice
so we are in the midst of a flash crash and recovery with a wick testing the lower trend line that I have been tracking for a long time and a round number support zone. The dip was bought back quickly with price action retreating back into the symmetric triangle discussed in the last post. To me, this looks like a bunch of folks all across crypto got margin-called, but that wasn't enough to gap close down into the .75-.80 range.
my conclusion: attempted breakout to the downside that failed.
so we are in the midst of a flash crash and recovery with a wick testing the lower trend line that I have been tracking for a long time and a round number support zone. The dip was bought back quickly with price action retreating back into the symmetric triangle discussed in the last post. To me, this looks like a bunch of folks all across crypto got margin-called, but that wasn't enough to gap close down into the .75-.80 range.
my conclusion: attempted breakout to the downside that failed.
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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.