BitcoinLong
BTC's FUD Recovery 08.03.18
Updated
Dear Traders,
Like you all noticed, yesterday was a sad day for the Crypto world. We all expected a breakout after that perfectly shaped Inverted Head & Shoulders pattern, but what happened ? FUD.
A twitter account published fake news telling people he got hacked, that all his Alt coins have been sold for BTC (HE claimed this happened on Binance). The CEO of the company directly called people down by telling them nothing happened. I personally think a huge bearish whale sold just before the breakout, hoping that, with that fake bad news people would follow and sell.
Let's get into some TA.
As we can see, my Inverted H&S Pattern didn't break out like we had expected it to, instead we got a huge pullback to 9.4k. Our VISL (Very Important Support Level) did a great job and gave the support we expected it to.
The Yellow triangle shows will tell us what will happen in the near future:
Option 1: BTC breaks out by crossing upwards, we will test all those resistances we tested last month again (Yaaaaaaaay......), this is what should happen,
Option 2: Another FUD or other fake news which will make weak saouls sell...... BTC will cross downwards, which will mean a bearish trend.
Keep your eyes on my chart !
Raw_Blitz out.
Like you all noticed, yesterday was a sad day for the Crypto world. We all expected a breakout after that perfectly shaped Inverted Head & Shoulders pattern, but what happened ? FUD.
A twitter account published fake news telling people he got hacked, that all his Alt coins have been sold for BTC (HE claimed this happened on Binance). The CEO of the company directly called people down by telling them nothing happened. I personally think a huge bearish whale sold just before the breakout, hoping that, with that fake bad news people would follow and sell.
Let's get into some TA.
As we can see, my Inverted H&S Pattern didn't break out like we had expected it to, instead we got a huge pullback to 9.4k. Our VISL (Very Important Support Level) did a great job and gave the support we expected it to.
The Yellow triangle shows will tell us what will happen in the near future:
Option 1: BTC breaks out by crossing upwards, we will test all those resistances we tested last month again (Yaaaaaaaay......), this is what should happen,
Option 2: Another FUD or other fake news which will make weak saouls sell...... BTC will cross downwards, which will mean a bearish trend.
Keep your eyes on my chart !
Raw_Blitz out.
Note
A we can see, another pennant got created, and we could make another triangle.The good news is, we are not under the very important support level anymore !
Keep an eye on the charts.
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