BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
There is weekly inside bar sitting just below 8000 + 7x inside bars on a daily chart+ volume is declining!

If we were about to break that 8000 we would have to see some huge volume with bullish price action. Well it is not there. If they fake 8000 level out we could see Triple Top Pattern. It could very easily produce a daily bearish fakey from that level. So watch out guys if you are thinking about trading break outs here.

Longs would be considered once we break 8000 with a huge bullish bar + huge volume then AT LEAST we know smart money is back to game to ride it higher.

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Good luck Traders!

Comment: 8200 has been taken with a nice big bar but spread is not too high let's see how they close tonight

Comment: typo ! I meant the volume is not too high:)
Maybe a bearish pin bar will come so they gonna test that 8200
so far so good
Thanks for your analysis! Great work :)

We called the break of 8300 and to humble ourselves we must look at the bigger picture at play to not get slaughtered and give back all our gains back to the machine. Be cautious and read about the potential "TOP" of BTC here:
I would not be surprised if they f.... everyone else here :)
Great point here all traders are long this is not a good sign!
yes, the fomo is indeed still strong, so we might see a fake out
+1 Reply
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