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RE: 🚀 🚀 🚀 Cryptomarket rocketing out of blue sky more than 8% in 1 hour!!! - What's behind the movement? 🚀 🚀 🚀
I heard that Bitcoin's ability to test and hold the key 6,200 level, three times in a row, was a technical analysis trigger that prompted a lot of smart money to buy in.
Thanks for the idea, i believe there is a herd component in the trading area because many look for the same pattern from the same school and could drive the price in very short time. If i look to other markets there are also entry barriers like $10 billion market cap to invest in a company for a hedge fund. It's a kind of stupid just to use these fixed key numbers but yeah it works like that, because decision makers need easy ruleset.