BTC breakout structure analysis
On the left we see 2019, middle current right 2020.
All had equal setups, breaking out of a flat top resistance.
As you notice in the previous setups this always contained:
- A higher high fake out ✅
- Wick buying the bottom support trendline ✅
- Higher lows during the bull flag
A lot of people expecting a flush to 32.5k-33k or lower, but it's good to realise that in history BTC has never done this during this type of setup.
So be careful fueling your shorts into BTC, history is not on your side. But history also only repeats, till it doesn't.
All had equal setups, breaking out of a flat top resistance.
As you notice in the previous setups this always contained:
- A higher high fake out ✅
- Wick buying the bottom support trendline ✅
- Higher lows during the bull flag
A lot of people expecting a flush to 32.5k-33k or lower, but it's good to realise that in history BTC has never done this during this type of setup.
So be careful fueling your shorts into BTC, history is not on your side. But history also only repeats, till it doesn't.
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