BTCUSD / Fake Out Breakout. Still Finding Support.
Updated
BTC made a breakout attempt of a short term counter trend that failed. Price has returned back under the counter trend line (TL). Price action is accelerating to another long term low. Look for setups around the longer term TL in yellow. This area also happens to be a Fibonacci 76.4%-78.6% retracement zone. With a lot of traders back to work there could be a very rapid dump in price triggering stop loss after stop loss; subsequently creating a dramatic panic spike down, and really cheap coin.
Trade closed: target reached
Well done. Trade target reached. Time to look for the reversal. Bulls are reentering the market.
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