We can assume that each time there is a continuous drop with a strong support at some point it will change drastically.
Imagine there is a big whale with a lot of coins that wants its way out, it will exchange all the buy positions, until the money is out.
Then, because the price dropped, a new whale takes it place. Some times, this is a way of adding value to a large sum of money. Because it takes the money of those that want to buy, by selling, and then, that money enters in a lower price.
So, this triangle may mean that someone is moving a larg amount of money by doing small movements.
So, there you have it. It will go up.
Imagine there is a big whale with a lot of coins that wants its way out, it will exchange all the buy positions, until the money is out.
Then, because the price dropped, a new whale takes it place. Some times, this is a way of adding value to a large sum of money. Because it takes the money of those that want to buy, by selling, and then, that money enters in a lower price.
So, this triangle may mean that someone is moving a larg amount of money by doing small movements.
So, there you have it. It will go up.
Note
watching again at this idea, it´s amazing how fast supports are removed from the base, but added again in no time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.