I want to challenge everyone to search all the trading days between March 13 2020 and April 14, 2021, and see if they could find bitcoin has had 8 consecutive days with lower highs..!
As you see in the last 8 days bitcoin experienced a unique situation and has had 8 lower highs..!
A reversal is when the direction of a price trend has changed, from going up to going down, or vice-versa.
Traders try to get out of positions that are aligned with the trend prior to a reversal, or they will get out once they see the reversal underway.
Reversals typically refer to large price changes, where the trend changes direction. Small counter-moves against the trend are called pullbacks or consolidations.
When it starts to occur, a reversal isn't distinguishable from a pullback. A reversal keeps going and forms a new trend, while a pullback ends and then the price starts moving back in the trending direction.https://www.investopedia.com/terms/r/reversal.asp
As you see in the last 8 days bitcoin experienced a unique situation and has had 8 lower highs..!
A reversal is when the direction of a price trend has changed, from going up to going down, or vice-versa.
Traders try to get out of positions that are aligned with the trend prior to a reversal, or they will get out once they see the reversal underway.
Reversals typically refer to large price changes, where the trend changes direction. Small counter-moves against the trend are called pullbacks or consolidations.
When it starts to occur, a reversal isn't distinguishable from a pullback. A reversal keeps going and forms a new trend, while a pullback ends and then the price starts moving back in the trending direction.https://www.investopedia.com/terms/r/reversal.asp
