This is not the first time BTC is outside the triangle
The previous two times BTC went outside the triangle it retraced back inside. Now its outside again. Maybe its legit this time. Maybe it wont retrace. But if it does that would seem kinda bullish?
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There is about 40 hours until the 3day closes at the time of writing. Thats plenty of time to get a bounce on. Obviously if 3day starts pushing to new low i would say the idea is void and the breakout is legit. But lets see.
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Upon further inspection im skeptical of this bounce. When you see the structure on the 6h it doesent look like other bounces. In fact it looks more like a few weeks back just before shit really hit the fan.
Notice how real bottoms look more like a V, they dont have 5-6 candles just hovering around in the same range.
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The bullish case is the 1H. Its in a small uptrend. 20EMA acting as support. But if that one fails, i dont see much bullishness anymore :)
Trade closed: stop reached