How much does Bitcoin Love it?
It loves it exactly to the 200 hour moving average and not 1 penny more.
Doge likes it a bit more than that though.
DOGE loves it just enough to boop that trend line again.
Technicals for the win!
The Doge chart is interesting though. Let's zoom in on that 4 hour chart to look at two things.
First you can see that its first move up reacted perfectly off that 200 MA. Bounced off it, came back down, and then shot up again toward the trend line its liked for a few months now before falling back down to earth.
Second thing that draws my eye and is far more interesting and a bit of a lesson in charting.
Notice first how RSI tagged the 30 line indicating it was about to enter oversold and then it slammed it lower as if was breaking down before it grandslam-smacked that ball out of the park? You could also say it coiled almost like it knew it was about to have to make a big move and it needed to really compress that spring all the way down so it could send price flying all the way back to the trend line. RSI got down to a ridiculously low and deeply oversold 16 before it ran finally sprang.
Finally let's zoom in a little bit more. Take a look at that yellow trend line where these two major points were meeting. Look how price had to run to catch that convergence point. You can guess where the big news is coming before it happens sometimes just based on major convergences.
It doesn't always work but that point was a magnet for price that it set up for hours in advance of the news with that loaded spring. That loaded spring of course also acted to shake out the weak hands before it ran higher because the market is a dick.
So what do we think about Elon Musk buying Twitter? Is it actually meaningful to crypto?
Can Hive benefit? Should Hiveans try to work with Twitter to help it usher in a period of true decentralization that benefits crypto and mankind? Is that possible with Twitter?
So many questions lol
Posted Using LeoFinance Beta
