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.