Yikes Bitcoin... this is NOT the price action bulls want!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
A core principles of good trading is CONFIRMATION. A core principle of Technical Analysis is closing candles. A good trader waits for confirmation of their trading indicator before entering a trade.

One of the key things I trust in my trading and advocate to others is to wait patiently for a candlestick to close to confirm a break of a certain level. Before I will sign off on "the continuation of the bull run" the Weekly bar MUST close above the last All Time High. What we are seeing as the week drags on is not much strength...

There are still a few days left in this candle so we cannot write it off yet but should the break not hold the risk increases of a... DUN DUN DUNNNNN: False Breakout!

"Be to others the person you needed to meet 10 years ago"

Discord Trading Community:
Twitter: @noroktrade