ReeceRingnald
Short

Breakout below bullflag confirmed and throwback

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The bull flag which formed following a volume-spike driven counter-trend move has just broken below and confirmed. The throwback which is occuring is, in my opinion, a bull trap. I have put in a trade moderately lower - the nearest support I can find on the chart (with 3x touches). For now, I'm short. I have a feeling that we're going to break sharply downwards. I've put a cautious target but I definitely think we could go even lower, I'm going to reevalate once (if) my first trade hits.
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