Bitcoin long trade breaking down

On January 10th I noted a price action Spike Alert around the December 3rd Liquidation Low. I saw this as a bullish signal as price was respecting that low with buyers coming in. In the days that have followed price action had a chance to reverse the bearish trend but as of this morning seems to be stalling out. The "bullish trade" is close to breakeven and on the trading timeframe (2h/4h) is setting up a bearish Ichimoku cloud breakout. This breakout could retest and break the January 10th low. I would not want to be long anymore.

Kommentera:

The attempted breakout on January 13th to the upside failed. The size of the wick unfortunately did not trigger my metrics to sound an alert but looking back it was an attempt to go bullish with the perfect conditions of an Ichimoku breakout... but it failed. This was the death of the rally.