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disobey
Apr 11, 2020 8:24 PM

Bitcoin Needs a Strong Support Level to Reverse This Bear Market Short

Bitcoin / U.S. dollarBitstamp

Description

This support level could be $1000.
The next huge fall to the 1000-3000 levels is confirmed by bollinger bands.
Comments
sebastian.soik
That might be true. The problem I see is that we would have a highly dysfunctional market then, even just for a very short period of time. But one basic requirement for TA is a functional market. Especially wave counts and stochastic bandwidth approximations like bollinger or Ichimoku don't work correctly then and lose reliability.
hearmysong
BTC has never touched the bottom BB band on a monthly scale, much less go below. It would be catastrophic. Unlikely.
revorevo
if bitmex didnt shut down during the last dump we wouldve seen 1k due to liqudation pressure
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