Bitcoin's Fake Breakdown: Another Bullish Signal (We Go UP!)

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin ( XBTUSD ) had a fake breakdown, which only assists us in buying more for our active LONG XBT trade.

Bitcoin breaking down is bad because we are at an important phase for Bitcoin and we saw one recently that we can now say was completely fake.

A fake breakdown, or bears/sellers rejection, is a perfect bullish signal.

Bear trap, shakeout, whatever you want to call it, Bitcoin is moving back up after yesterday's drop .

We remain bullish on Bitcoin short term and have an active trade for it with over 100% ROE potential.

You can see it here:
Thanks a lot for reading... Feel free to hit LIKE.

Comment: This is how Bitcoin is looking on the daily time frame, a close above EMA10 makes this a really bullish set formation:

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Still looking pretty bearish to me. BTCUSD H4 Update, Z down? Checkout the idea detail's and all the update's for the complete picture.
We are in Wave 4 of EWT. Very unpredictable. It may hit 4250 and crash to 1150, it may not. It may crash overnight to 1150, no1 really knows, only the whales and large traders will decide the fate.

All I keep an eye on is how every main alt is performing while BTC is sideways, this is what whales do, they accumulate alts, then when they have enough, they pump BTC to the hilt, increasing every ALT with it, then dump once they get their profit margin. Welcome to the real world, rich get rich, poor get poorer.

Keep up the analysis Alan, some of your trades make good money, not every trade is perfect or you would not be here, you would be on your 100million dollar yacht......
Dude ur posting bull charts 14 months now and every single one failed. U need to stop scamming people to pay you for your trading advice cause ur terrible at it
+1 Reply
Nice charting and I think that the next bullish confirmation should come after the 4H candle close above $3,850.
Today we got a nice bounce from the strong support level:

All the best!
Bitcoin had no " false brakedown" Alan.

Bitcoin had retest of 3650 level (which is pierced of Feb) and later on retested that level.

Altcoins are in very good position and this could be lowest price you can get them as being on bottom, underpriced and mostly oversold.

Good luck.
Good news. I hope you are true <3
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