Description
⋅ Recently there was an abnormal movement in Bitfinex's BTCUSD chart.
Almost touched $ 7,800.
CRAZYY, eh?
Here are things to ignore and things to remember for your trading setups.
We could probably forget about the Bitfinex's MOONING candles, at least its wicks.
Why????
If we could have spotted similar movements in other charts such as XBTUSD or BTCJPY, it would have been a different story.
two charts above each from Bitfinex and Bitmex shows totally different stories but there are interesting similarities we should be laying our eyes on.
1. the strong resistance zone (indicated in red rectangle) is NOT BROKEN as shown in other BTC charts.
2. Don't know about 50 EMA (Orange), but surely is 100 EMA (Dark Green) a valid resistance as of now.
3. Support valid at bullish trend line (indicated in Dark Green straight line).
so for those whose sucking thumbs right now, this might help you get out of your couch :P
Cheers to yall.
Let the bulls be with yall.