The great wall of NOPE.
A common oversight I'm seeing on Trading View is people ignoring this chart because it indicates the opposite of what BTC/USD is showing. Majority of this crypto bull run has been characterized by BTC.D dropping because of money flowing into the market into alts at an increasing pace (at a faster rate than BTC is growing). In order for BTC to dump any further (and take the entire market with it) past the previous local low of 47.5k it would have to make it past the great wall of NOPE (possible? yes. probable? no), so not only would BTC have to make that journey alone but it would also have to make that journey with little to no volume, both of which seem like a very unlikely scenario in this current market climate.
Penafian
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