BTC Dump Fakeout

7 ביולי

I am buying this level. So, what we have here is a massive hammer candle, at the bottom of the lower Bollinger Band (Orange Line). Along with this we have a confirmed breakout from the bullish divergence based on the RSI (Yellow Lines). Nice pump after a lot of fear in the space, followed by a dump equally as big. Why are we okay with this and still buying this level? Because we get a rejection back to a level that we are establishing as support (as previously described) and we are attempting to capitalize on an "Invalidated Candle." A candle with a large move in any direction but does not have the volume to accurately support it. Market Makers are playing with us.