Remember that squeeze channel we used to know EXACTLY when we are going to fall out? Yeah; the red one. That set the large down trend channel of course. We found our bottom; and as we suspected, it was within about $4 (just happened faster then we thought). So of course the interim up happened. Now, check this out!
Notice that the interim Up, and the current overall down; meet the critical red squeeze channel above. ALL of them converging at the exact point in the time. Friends; this is so stunning! Why? Because we can no know for sure if a) the action of the past day is just a burp which will lead to a fun story for CoinDesk in the days to come or b) this is in fact a legitimate downtrend.
We know we are in a down; but you don't usually know until have a few bottoms and a few tops to know if you can just chill in it for a while, or if you have to babysit it. Rarely do you get a chance just straight up see when confirmation will happen. I'm still *thiking* short (just for a small time) but hey, if we pop back into that critical red; then we can all go have a beer and talk about the silly burp of April 2017.
Notice that the interim Up, and the current overall down; meet the critical red squeeze channel above. ALL of them converging at the exact point in the time. Friends; this is so stunning! Why? Because we can no know for sure if a) the action of the past day is just a burp which will lead to a fun story for CoinDesk in the days to come or b) this is in fact a legitimate downtrend.
We know we are in a down; but you don't usually know until have a few bottoms and a few tops to know if you can just chill in it for a while, or if you have to babysit it. Rarely do you get a chance just straight up see when confirmation will happen. I'm still *thiking* short (just for a small time) but hey, if we pop back into that critical red; then we can all go have a beer and talk about the silly burp of April 2017.
