BTCUSDT 4H - BREAKOUT VS FAKEOUT?
Updated
20/50/100 EMA cross.
Bull flag break out.
0.618 fibb break out.
Problem:
The bull flag had an ABC correction, but we are still missing one last drop to complete the accumulation in the channel, this is not mandatory but aligns well with the expected March drop.
I don't see the drop being under .48,250.
Bull flag break out.
0.618 fibb break out.
Problem:
The bull flag had an ABC correction, but we are still missing one last drop to complete the accumulation in the channel, this is not mandatory but aligns well with the expected March drop.
I don't see the drop being under .48,250.
Note
Aside from that if we close above 58k and if we have 2 candelsticks living on the level it would most likely mean long, we will have really strong confirmation.Note
The trade is being too close to call, I think safe bet would to wait for 0.786 2+ candlesticks to confirm that the short opportunity is neutralized.Note
Another thing, this price action doesn't look natural at all, it is a complete mirror of the 60k we had initially, so be aware of sudden moves in both directions.
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