Not So Fast...
Today's post is a short and snappy one, where I diagnose whether this -10% red candle is something I'm worried about, or just another day of choppy noise.
G’day Folks,
Can you feel it?
The hype, the excitement, the energy!?
‘Uptober’ has finally arrived, and that means we’re boarding the unstoppable Bitcoin rocket ship to $100k…
I truly believe markets have a sense of humour, and it tends to find liquidating overly excited traders to be a decent laugh.
What caused this red candle is up for debate. It could be trading algorithms seeing new headlines (if ‘war’ AND ‘stike’ == True: Sell Everything), it could be genuine risk-off fear, could be shifting election odds…
…It could also be just another day of chopsolidation.
Today’s piece will be a short and snappy one, where I will take you through a routine of metrics I use to diagnose whether this red candle is something I’m worried about, or just another day of choppy noise.
Time to hit the gym.
📈 Reminder: you can find the charts from our articles on the Checkonchain Charting Website, and a guide in our Charts Tutorial Video.
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