We usually mention as a very important signal/indicator when it comes to TA. Any move that happens we always look for for confirmation.
Good is good for the bulls we always read/say.
Recently the market cycle changed from to , and we are seeing strong action on low in some/many cases... This isn't a signal anymore since we are in a cycle, it is more of a "continuation" signal.
So if you see a bottomed out altcoin producing a low break above EMA10 and EMA50, instead of seeing this as a signal telling you that prices can quickly reverse because there is no support, instead we see it as just the beginning since prices are moving higher and the trading is yet to come.
When we looked at GASBTC , we can find a good example of what I just wrote.
There was no big when breaking above EMA10 or EMA50 (just the beginning), but prices kept on moving higher and there is big now to challenge EMA200 and for GAS to continue going up.
Yes! We continue to look at trading for confirmation, but this can be better used now when it is time for a drop . If prices drop on low , you can take it as a signal of a retrace that won't go for long. But if prices drop on big/above-average bear/red , then you can take it as confirmation that prices will likely continue to drop .
That's the indicator based on my experience after years of looking at these charts.
What is the most common mistake when trading crypto?