Last night the price broke upward through the descending triangle unexpectedly. This is the problem with chart formations like this; while they normally do one thing or another, there is a chance that the opposite happens, and last night it did.
Part of this push upward was due to one of the exchanges shutting down for maintenance. At the very moment the servers shut down the price shot up, part of an obvious manipulation of price. The trick here is figuring out what the purpose of that manipulation was.
Bull Trap? Maybe. Reversal? Maybe.
Either direction will require confirmation with the bulls needing .37 broken, and the bears needing 0.31 broken.
Part of this push upward was due to one of the exchanges shutting down for maintenance. At the very moment the servers shut down the price shot up, part of an obvious manipulation of price. The trick here is figuring out what the purpose of that manipulation was.
Bull Trap? Maybe. Reversal? Maybe.
Either direction will require confirmation with the bulls needing .37 broken, and the bears needing 0.31 broken.
