$BTC Market Update - 11/11/2021
Yesterday we informed our Premium Group of the added risk of opening leveraged trades when BTC is at ATH and in price discovery mode.
The point was proven last night with BTC dropping 10% very quickly. We can see from the chart that the bottom of the dip bounced exactly off of the EMA100 (light blue line) and moved quickly above the support that we identified yesterday of 63k-64k. In many coins, this was a great change to DCA.
The last couple of candles have seen us ranging between the EMA50 and EMA20 on the 4h chart.
The point was proven last night with BTC dropping 10% very quickly. We can see from the chart that the bottom of the dip bounced exactly off of the EMA100 (light blue line) and moved quickly above the support that we identified yesterday of 63k-64k. In many coins, this was a great change to DCA.
The last couple of candles have seen us ranging between the EMA50 and EMA20 on the 4h chart.
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