Hello friends! In this idea i would like to show you how a possible Fakeout scenario on Bitcoin (BTC) could look like.
While the price was moving in Falling Wedge (Bullish Candlestick-Pattern), the price made a decent downwards move - as per my last idea (linked below).
Many traders, especially here on TradingView, were expecting a strong breakout to the upside. That's where the Fakeout comes in play.
I personally do not trade according to this idea. This is just an example for an irrational move, which is not rare at all in cryptocurrency markets.
Please let me know what you think and share your ideas in the comments section.
You can also join our FREE cryptobuller Discord Channel with content for Beginners & Pro's:
-> discord.gg/NWqjqcw <-
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
While the price was moving in Falling Wedge (Bullish Candlestick-Pattern), the price made a decent downwards move - as per my last idea (linked below).
Many traders, especially here on TradingView, were expecting a strong breakout to the upside. That's where the Fakeout comes in play.
I personally do not trade according to this idea. This is just an example for an irrational move, which is not rare at all in cryptocurrency markets.
Please let me know what you think and share your ideas in the comments section.
You can also join our FREE cryptobuller Discord Channel with content for Beginners & Pro's:
-> discord.gg/NWqjqcw <-
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
Comment:
This Fakeout is very unlikely to play out - at least in my opinion. I will update this chart with a Trading Plan in a few hours.
Comment:
Confirmed that this was not a Fakeout. Update incoming
