Love how almost all of these always end on 'either A or B will likely happen next' and they always just happen to be the two options of either side. All this shows is there was some resistance around 8400 because it was hit a few days ago and then again earlier today. Any idiot with eyes can figure that out by looking at a graph.
Welp, that would really be the case. At the end of the day, it's just up or down in the crypto markets, even in the traditional stock markets and bond markets. Right now we've
certainly went past the $8500 resistance and are now approaching very closely to $9000, with the current price sitting @ $8850 at the time of this writing. If we managed to break $9000 sooner, I'll expect that we'd be targeting higher highs and retraces here and there. It could already mean a bull reversal is happening but again, it's always between A or B in the cryptomarkets.
I don't disagree with what you're saying, it just always goes along the lines of 'if this positive thing happens it normally indicates a positive outlook' and then vice versa. I'd be intrigued when there's some analysis that says x will happen because of abc, at least then it is making a bold claim with reasoning, even if it is wrong.
I was waiting for some self-proclaimed trading "expert" to give his predictions about the price just by looking at the charts.Is this going to be "dead cat bounce","head and shoulders" or some new weird chart name?
Anyway,I think that such Coindesk posts are made just to get some traffic to the article itself,coming from some newbie traders,who want easy predictions.Traffic+Ad revenue,that`s all.I can`t find any real value in this chart analysis.
I'd like to speculate the opposite as it's actually just some newbies way of using the articles to get posts and potentially look like they're behind this self claimed 'analysis'
