Bitcoin has been silent lately in a symmetric triangle. A sideways Bitcoin sort of irritates people. But you shouldn't worry! The Bitcoin plunge is coming!
If we can see the yellow-colored oscillator, the Effective Divergence indicator, it gave us a similar symmetric triangle compared to the price. Well, EffDi gives us an early breakdown... nice! It was accompanied by a dump from 38k to 34k. We have a potential breakdown of the price's symmetric triangle!
Also, the Moving Average Channel, which composes of a MA 100 for the high and the low, was also broken with the recent dump! This Channel prevented the pullback from 42k about a week ago. This breakdown is strong. Don't forget the extra volume during the dump.
Early signal for an impending plunge! It is coming! We may see the correction go all the way to 30.2k, strong support, which halted the previous pullbacks. Get ready! ♫Bitcoin plunge is coming to town!♫ Also, I noticed when Bitcoin plunges, many altcoins plunge too. Interesting! Get ready for the next crypto movement!
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What is the EFFDI? And have you seen that signal mean anything before?
Trader_ph
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@wordsforthewise, this is my indicator, Effective Divergence Indicator, originally for detecting divergences in cryptocurrency. But I found out its other uses. It is better than momentum in my opinion because of its smoother movement and the better ability to give early signals.
Victorwealth25
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@Trader_ph, Thank you for your info... What is the name f the indicator