I must admit I was not expecting a short squeeze at this point in time when I first published my idea yesterday, the timing from the bulls was perfect though. Strike when no one expects it. Now let's see if they can follow through with their plan. I am not convinced about this move before we make a clear break of the major down-trendline that has been in place since december. My analysis from yesterday is still valid - the bear flag is still intact!
Levels to watch are 7500s for bears, and above 8k for bulls. I believe there is a possibility to go higher since we seem to be forming a bullflag on the lower timeframes. The test of the trendline will be interesting.
P.S - I see a some people claiming we have broken the downtrend line already. I suggest they turn on log :)
P.PS - Sorry about the indicators, they weren't supposed to be included BITFINEX:BTCUSD
Thanks! Yeap, when you post a chart it automatically adds the indicators even though you've hidden them while posting((
Nocturne83
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@peredddzz, thanks, will remember to remove on next chart :D
CryptoBuzzAnalyst
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Defintely Bulltrap. No doubt. We are still in a bear trend no matter how anyone wants to look at it!
peredddzz
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@CryptoBuzzAnalyst, Maybe a shakeout before going lower? Shorts were due to get rekt i think. No doubt it was a planned action, now we'll see how the crowd reacts.
CryptoBuzzAnalyst
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@peredddzz, Yes manipulated is more the word ! lol. Its gonna crash down and dump! Its happen to me before. Once was enought. I know manipulation when I see it. This is all BS!
peredddzz
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@CryptoBuzzAnalyst, agree, need some time to resolve. It's really suspicious that one move like this could turn things upside down. Need a clear evidence that this is a new trend.