What if corona virus has stopped out bitcoin last year? Technically explaining
We can consider the crash from march 2020 a fakeout to the downside as price just crashed but didn't begin a downtrend. The price has only gone up since then..
Good bullish breakouts have to begin an uptrend and good bearish breakouts have to begin a downtrend.
Fakeouts to the downside end up generating strength to break to the upside later. And the stronger the fakeout, the stronger the breakout to the other side later. Do you think the fakeout from march was strong enough?
We can consider the crash from march 2020 a fakeout to the downside as price just crashed but didn't begin a downtrend. The price has only gone up since then..
Good bullish breakouts have to begin an uptrend and good bearish breakouts have to begin a downtrend.
Fakeouts to the downside end up generating strength to break to the upside later. And the stronger the fakeout, the stronger the breakout to the other side later. Do you think the fakeout from march was strong enough?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.