Hello everybody, maybe some of you, like myself trade on tight margins, daily, and are sometime caught with these unexpected chop downs, like the one that happened tonight. When these sudden dips occur, some traders around you might panic and over-exaggerate expecting the whole market to completely crash down. When this happens I keep reminding myself to zoom out and check the big picture for clues, and I would just like to share with you the channel the BTC
has been religiously respecting over the last two weeks. Hope it helps someone, as I noticed there was a large increase in short positions once the BTC
approached this line and all of them are now trading with a loss.
Long idea: This now shows that the 12.000 is easily reachable without breaking the channel.