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RE: Is Bitcoin Overpriced? | Bitcoin TA
There may have been 3 clear peaks above it, but the price came down every time. When encountering this border, the volume goes up and the bull must be strong to break it. That is why I consider it to be quite a strong resistance. Let's see. I would only love seeing another bull run.
Ok. Thx. Me too.. :D One more note... The currently seen vedge here is a falling one which also traditionally is regarded a bullish pattern. Here's Invesopedia on the subject: https://www.investopedia.com/university/charts/charts7.asp
Well, now not both lines are falling down. And even if they were, you cannot be 100% sure when will it break and go upwards again. And you have to look at volumes, too. Because these patterns could be created by a whale which draws that as a trap for traders. :)
That is why in the article, there are always shown 2 possibilities of development.
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