Bitcoin's Fake Breakdown: Another Bullish Signal (We Go UP!)

Bitcoin (XBTUSD) had a fake breakdown, which only assists us in buying more for our active LONG XBT trade.

Bitcoin breaking down is bad because we are at an important phase for Bitcoin and we saw one recently that we can now say was completely fake.

A fake breakdown, or bears/sellers rejection, is a perfect bullish signal.

Bear trap, shakeout, whatever you want to call it, Bitcoin is moving back up after yesterday's drop.

We remain bullish on Bitcoin short term and have an active trade for it with over 100% ROE potential.

You can see it here:

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Namaste.

Kommentera:

This is how Bitcoin is looking on the daily time frame, a close above EMA10 makes this a really bullish set formation: