I often refer to the crypto space as very “chart friendly.” And, once again, this has been demonstrated by the coins themselves. I find it absolutely remarkable how well-defended these support lines are. Although, it should be no surprise, since the “whales” behind crypto know all too well that if major support breaks (which is basically $29,000 on Bitcoin), then it’s bombs away. Just look at these:
Algorand Daily Chart.
Ethereum Daily Chart.
Bitcoin Daily Chart.
The springs on farmhouse doors don’t last forever, and neither will these lines. For the immediate moment, it looks like the crypto crowd might get a desperately-needed bounce.
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