Unsure if this will break up or down. Could be a long accumulation which people mistake for a bear flag. I am inclined to say this is the structure because the long/short ratio has been increasing through this sideways movement. This is a good trade R:R is right.
My last btctrade got stopped out. The market has been moving sideways for a while and longs on bitfinex have increaased dramatically. I think whales have been accumulating the past week and are ready to move the market soon. Move stop to profit once neck line is broken (not pictured)
This is a common fractal I see in bitcoin and other cryptos and it always seems to be a bottom. Market buy, low risk lets test this out.
I see this shape as market building long positions, finding support, and algo buying on breakout of range.
we are copying the previous move?
the downtrend so far is exactly like the one in August
11 days and around 2584 usd.
will we have the simliar retracement?
1, we have already finished the retracement, since btc went up 25% already from the bottom.
2. we will have another big wave, 50% up.
Let's watch closely
tether FUD is FUD in it self. the sell off last week was blistering volume on all exchanges.
price has met lots of resistance, as soon as the price broke down people piled into shorts.
the break of the first 2 black lines created the momentum for a cascading event.
once the 3rd black line broke spot sellers fear new lows have stops triggered cascading the...