Bitcoin (Fake breakout) Resumes Drop

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

⋅ Jul 9, 2020 3:14 PM

What we saw recently for Bitcoin (XBTUSD) was a fake breakout.
Prices moved above support just to quickly fall back down.

Our previous view/analysis remains valid.
Prices are now trading below MA200 and also below the purple trendline.

Additional information

Thanks a lot for your continued support.

Namaste.

Comment

⋅ Jul 10, 2020 7:04 AM

Here we go... RED.

Comments

Zenter

⋅ Jul 9, 2020 3:36 PM

AlanSantana

⋅ Jul 10, 2020 6:39 AM

@Zenter, Look at MA200 on my chart... It was a fake breakout not because of the trendline but because of the MA200 working as resistance/support, this one is a stronger signal.

llegendd

⋅ Jul 13, 2020 9:49 AM

second breakout over the weekend .. thoughts?

AlanSantana

⋅ Jul 13, 2020 10:15 AM

@llegendd, We stay bearish below resistance...

AlanSantana

⋅ Jul 13, 2020 10:15 AM

It is just moving sideways with tendencies of going lower... @llegendd,

PolarHusk

⋅ Jul 10, 2020 1:48 PM

nice downside view, thanks for sharing

Zenter

⋅ Jul 9, 2020 3:37 PM

BEAR TRAP

AlanSantana

⋅ Jul 10, 2020 6:38 AM

@Zenter, It is moving lower...

Zenter

⋅ Jul 10, 2020 6:44 AM

@alanmasters, OKAY You won :)

AlanSantana

⋅ Jul 10, 2020 7:11 AM

@Zenter, We both do, we are learning.

Thanks a lot for the support.