Didi and family are doing great so it seems.All the hype of six months ago seems to have evaporated. It was a glorious run to US$19,000, but it appears that reality is now beginning to set in.
I wonder how the guy who sold his home and all his possessions to invest in Bitcoin is feeling now: https://www.businessinsider.com.au/didi-taihuttu-sold-everything-for-bitcoin-fans-2017-12
Apparently so. I'm seeing it being reported from multiple sources. Confirmation from a more mainstream source would be good though.Lol...is this serious??
Lol...is this serious??
What a load of wank, more rumor and innuendo from the crypto spruikers.....that recent low is what we refer to as a "poor" low in auction market theory. Value was not rejected, it was accepted there, price will return to unfinished business....
Poor or weak low
It is easiest to illustrate what a weak or poor low by discussing what a strong or excess low is. When the market moves lower and finds that prices are just too low to be fair, the traders generally immediately drive price higher as buyers grab up as many contracts as possible at the perceived low prices. This generally leaves a buying tail on the chart and little in the way of volume on the profile. A weak or poor low is the opposite. This occurs when the market tests a low and can’t move away from it readily. A lot of volume trades a tick or so from the low print and buyers don’t seem to be interested in lifting prices higher. This is a weak or poor low and there is a generally tendency to revisit that low within that session or immediately after that session.
Poor or weak low
It is easiest to illustrate what a weak or poor low by discussing what a strong or excess low is. When the market moves lower and finds that prices are just too low to be fair, the traders generally immediately drive price higher as buyers grab up as many contracts as possible at the perceived low prices.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?