BITCOIN breakout to next resistance level, or FAKEOUT and drop?
Updated
Hi fellow traders,
Yesterday Bitcoin closed above important resistance level (+/- 42550 USD). We are above the long-term trend line (red) and above short-term trend line (yellow). These are all bullish signs to get to the next resistance levels 48-52k.
BUT the volume seems to be quite low - could it be a fakeout followed by drop (to 35 or lower)? On the 44-46k level will also be a lot of stop limits from shorts.
Is this a legit breakout or a fakeout - what do you think?
GL&HF,
CryptoVlcoun
Yesterday Bitcoin closed above important resistance level (+/- 42550 USD). We are above the long-term trend line (red) and above short-term trend line (yellow). These are all bullish signs to get to the next resistance levels 48-52k.
BUT the volume seems to be quite low - could it be a fakeout followed by drop (to 35 or lower)? On the 44-46k level will also be a lot of stop limits from shorts.
Is this a legit breakout or a fakeout - what do you think?
GL&HF,
CryptoVlcoun
Note
Seems more like bulltrap and potential dump. Volume's low, 4H showed closing wedge. Short opened. April "fools" rising. :)
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