Upward Trendline is too obvious - Move down coming in BTC

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Too many hits, everybody now can see the uptrend on 4H -> the market must go down the trendline.


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Good idea
So what you're saying is that's a really strong support, and that strong supports are made to be broken
TRIFRACT tonykonig
@tonykonig, Yes, because this support has been hit too many times(each time makes the support weaker) and it is obvious to the majority of market participants. See, markets have this property - the majority of traders lose money. If the majority see one thing - it stops working. All the best.
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