Constance Brown talks about these all the time in her books...I don't see them very often in Bitcoin (I gather they are more common in indices and bonds) so when I see a 'Gap' in the Bitcoin chart and especially, at such a critical point for Bitcoin, I think it must be significant as they apparently signify a strong market sentiment.
It carries with it failures at the 50 MFI line, formation of a downward channel and cross down of MACD
From what I have read, Gaps carry a high probability of price range reaching the same distance above as well as below the price they occur, so I am treating this as a signal that 600 will break and 580 is in range.
MACD as I write appears to want to turn up and I see the 3 green bars have coming up off of the bottom around 610...their decreasing size and a shooting star however, suggest to me that they are a response to the dump and will fail at the upper blue line.
Let's see if I'm wrong...again ;-)
It carries with it failures at the 50 MFI line, formation of a downward channel and cross down of MACD
From what I have read, Gaps carry a high probability of price range reaching the same distance above as well as below the price they occur, so I am treating this as a signal that 600 will break and 580 is in range.
MACD as I write appears to want to turn up and I see the 3 green bars have coming up off of the bottom around 610...their decreasing size and a shooting star however, suggest to me that they are a response to the dump and will fail at the upper blue line.
Let's see if I'm wrong...again ;-)