Bitcoin's Fake Breakout: Another Bearish Signal (We Go DOWN!)
Updated
Bitcoin ( XBTUSD ) had a small fake breakout, which only assists us in selling more for our short positions.
Bitcoin breaking up is good because we can short at a better price, we are at an important phase for Bitcoin and we saw one recently that we can now say was completely fake.
A developing fake breakup, or bulls/buyers rejection, is a perfect bearish signal.
Bull trap, shakeout, whatever you want to call it, Bitcoin is moving up to prepare fooling gurus, after last week's drop.
We remain bearish on Bitcoin medium term and don't have an active long/buy trade for it which would have an over 99% loss potential.
Thanks a lot for reading... Feel free to hit LIKE.
Bitcoin breaking up is good because we can short at a better price, we are at an important phase for Bitcoin and we saw one recently that we can now say was completely fake.
A developing fake breakup, or bulls/buyers rejection, is a perfect bearish signal.
Bull trap, shakeout, whatever you want to call it, Bitcoin is moving up to prepare fooling gurus, after last week's drop.
We remain bearish on Bitcoin medium term and don't have an active long/buy trade for it which would have an over 99% loss potential.
Thanks a lot for reading... Feel free to hit LIKE.
Note
I think i posted this somewhere in between some weeks ago. Compare it to btc.For eth - we are at that move to 3. So we might have a little more move up tomorrow, before continuing down.
Just don't feel excited about any buying here yet, it's not as sure as some gurus make it out to be ;) Alright? Don't get fooled by them
Note
Current pictureStrictly defined we are still just in a range.
Short term information:
A small upmove is not even needed anymore now.
It could go right down all the way from here.
Note
If you want my opinion on litecoin, actually nailed the top 2 hours ago ;)Wanted to post it but nevermind. What I can tell you now is:
https://www.tradingview.com/x/Q6XjCFgU/%7B/image]
My thoughts on this: I see this area as a top and dont want price to hang around here for longer time.
Not sure how useful that is for you now, but maybe it gives you perspective. So lets say based on 4 hour timeframe, i dont want it to close above that 57.50 area.
Note
https://www.tradingview.com/x/Q6XjCFgU/%7B/image]My thoughts on this: I see this area as a top and dont want price to hang around here for longer time.
Not sure how useful that is for you now, but maybe it gives you perspective. So lets say based on 4 hour timeframe, i dont want it to close above that 57.50 area.
Because if it will stay above there, chances are my thoughts are likely wrong.
Note
sorry bugged again.https://www.tradingview.com/x/Q6XjCFgU/%7B/image]
My thoughts on this: I see this area as a top and dont want price to hang around here for longer time.
Not sure how useful that is for you now, but maybe it gives you perspective. So lets say based on 4 hour timeframe, i dont want it to close above that 57.50 area.
Because if it will stay above there, chances are my thoughts are likely wrong.
Note
My thoughts on this: I see this area as a top and dont want price to hang around here for longer time.
Not sure how useful that is for you now, but maybe it gives you perspective. So lets say based on 4 hour timeframe, i dont want it to close above that 57.50 area.
Because if it will stay above there, chances are my thoughts are wrong. (What would happen then? That would open the doors to a huge rally medium term, not just for litecoin but all.)
But i really don't believe in a continued upmove right now, at least not a great one.
Note
had a nice downmove. please read litecoin post. not safe to short right now, high from yesterday will get taken again. goodbye
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