Always more than two possibilities. Why convergence is important
I always talk about convergence. If you look at the brown line, the convergence we had before, it ends up on the first day of August. Went straight back up to 12000USD.
You should know why convergence is so important.
When the price moves really fast and strong, you can more easily find out how the chart would move next. Because it has the power.
But when the trend line breaks down, after that situation the movement gets weaker, and hard to find out where it is going to move.
But still there's the pattern and that is the convergence.
As you know bitcoin is not like a penny stock.
Even whales have to be aware of other variables and possibilities moving against their thinking.
So the time, whales try to make the chart as they want, it is the edge of the convergence, where the movement got weaker.
Now the BTC is making another pattern, convergence.
The edge of the converging trend line, There are two possibilities. Up or down.
The key point is "How are we going to find out the direction?"
It's close to 50:50 chance gambling, and it is really kind of gambling.
If you look at it more carefully, some times you could find out the direction.
But at this point, I don't think we can guess.
Now, it's 50:50.
Altcoins are now fallen enough, so it could bounce back, but BTC, it still has strong resistance,
I don't really use English often so I'm not sure the word convergence is the correct word.
If you don't understand what I'm trying to say, please make a comment.
You should know why convergence is so important.
When the price moves really fast and strong, you can more easily find out how the chart would move next. Because it has the power.
But when the trend line breaks down, after that situation the movement gets weaker, and hard to find out where it is going to move.
But still there's the pattern and that is the convergence.
As you know bitcoin is not like a penny stock.
Even whales have to be aware of other variables and possibilities moving against their thinking.
So the time, whales try to make the chart as they want, it is the edge of the convergence, where the movement got weaker.
Now the BTC is making another pattern, convergence.
The edge of the converging trend line, There are two possibilities. Up or down.
The key point is "How are we going to find out the direction?"
It's close to 50:50 chance gambling, and it is really kind of gambling.
If you look at it more carefully, some times you could find out the direction.
But at this point, I don't think we can guess.
Now, it's 50:50.
Altcoins are now fallen enough, so it could bounce back, but BTC, it still has strong resistance,
I don't really use English often so I'm not sure the word convergence is the correct word.
If you don't understand what I'm trying to say, please make a comment.