Fake breakouts bitcoin..
Folks,
At the moment of writing we see 2 times a fake breakout above the descending trend line..
What does this mean ?
Simple.. Bears are in control at this moment.
What can we expect?
Well in crypto you never know. 1 man somewhere can change everything in an instant.
But for now.. The sentiment is more down than up.
Personally i think price is correcting to the point it well test the 50 day MA. for me, looking in the past, it is quite a high probability.
Personally i give the chart more time to develop.. 1-3 weeks is normal for a short term trend to develop.
Patience is key. If you are in the markets at this moment.. Please do yourself a favor and set your stop loss..
Happy trading.
At the moment of writing we see 2 times a fake breakout above the descending trend line..
What does this mean ?
Simple.. Bears are in control at this moment.
What can we expect?
Well in crypto you never know. 1 man somewhere can change everything in an instant.
But for now.. The sentiment is more down than up.
Personally i think price is correcting to the point it well test the 50 day MA. for me, looking in the past, it is quite a high probability.
Personally i give the chart more time to develop.. 1-3 weeks is normal for a short term trend to develop.
Patience is key. If you are in the markets at this moment.. Please do yourself a favor and set your stop loss..
Happy trading.
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