Ever wonder why we keep coming down to these areas? Smart money is coming to take dumb money's lunch.
This move happened before. I posted this in a previous chart where we hit the weekly Bollinger Band median. What if this bounce here is just like the past where we get slammed down again? I'm not buying into this bull run until we see some clear reversal action or a hit off that line. You can throw all the fundamentals you want into this, but I think we were due...
Something I've been looking at. Added some other smaller trend lines to comply with some discussions with Automox. Still short due to volume dropping over this pump. Time will tell.
There's a lot of bullish charts being posted and people talking about how things are about to turn around.... well, I'm just not so sure about that. Looking at the weekly BB we can see that when BTC wants to go for a dive, it certainly likes to head for the median of the bands. I have no reason to suspect we wont see the same dump ratio here of 40% from the blow...