In a previous post on May 1, when 
BTCUSD made a new low, I expected 2 scenarios: A fake breakdown and further decline.
It happened to be the first scenario.
Now after running up straight from a fake breakdown,BTCUSD is forming a consolidation zone right here below its MA-50, between $62,800 and $64,500.
A breakout above this area would provide a buy point.
How about a breakdown?
I will stay flat in that case and wait for another bull pattern because I am not planning to shortBTCUSD, at least for now.
BTCUSD made a new low, I expected 2 scenarios: A fake breakdown and further decline. It happened to be the first scenario.
Now after running up straight from a fake breakdown,
BTCUSD is forming a consolidation zone right here below its MA-50, between $62,800 and $64,500. A breakout above this area would provide a buy point.
How about a breakdown?
I will stay flat in that case and wait for another bull pattern because I am not planning to short
BTCUSD, at least for now.Trade active
Follow-through well after breaking out.
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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.
Related publications
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.