its true that bitcoin or any of the alt coins care about the stupid lines that you draw around their chart. the price is driven up an down by the real world events and factors and TA can only be right if things happen in the same way it has happen in the past IF there is no external factors involved in the market in the present situation.
HOWEVER keeping an eye on TA will help you get an idea of where people who follow the TA and do trading are likely to place their stop loss which contribute to big sell offs through domino effect and hence cause flash crashes like these.
i follow benjamin cowen on twitter and he was talking a lot about bitcoin holding the line at 52k, i set my stop limit at 52k and bought BTC back at 47k and now i wiill sell the BTC that i got for free and diverse it into the alt coins that are available on a huge discount.
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