Thanks for all the compliments!
Unfortunately the Confluence (that confusing part) took over, and fizzled the attempted recovery.
Basically, Confluence is a measure of tons of technical indicators. These are the things technical traders like to watch. So no matter what technical traders are watching, when the majority of those indicators are pointing down, that means there are lots of traders who are thinking down.
So when most of traders are looking at screens saying "down", that's definite pressure on bitcoin.
That's why it's important to be aware of what's going on around you before you take a trade, or make an investment. Lack of situational awareness is always a killer.
: )
cj
Yeah I understand what confluence is and how traders watch technical indicators. My question was really how the "attempted recovery" was fitting into that scenario. If the technicals are mixed or down, surely the price is looking down rather than up? Not trying to split hairs here, just gain an understanding of the situation as you saw it. I suppose the question boils down to "what were the signs of an attempted recovery" you saw?