BTC/USDT Sell the rumour, buy the news?đź“°
Updated
After CPI numbers came out we saw the price faking out the bears, we saw an spike under the support and volume increased sharply giving us confirmation of a possible bear trap in play. We have broken a local descending channel and we are now approaching the descending trendline. If we manage to break above, I have two possible targets $20,500 resistance area and $22,700 area. The sell off before the news could have created the perfect opportunity to buy once the news came out and fear spread.
Comment below your thoughts and questions! Give us a boost and share with your friends if you find our analysis useful, that would be of great support!
Comment below your thoughts and questions! Give us a boost and share with your friends if you find our analysis useful, that would be of great support!
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Price retraced and found support on the 0.786 fib level and now is trying to break the trendline.
Note
Took longer than expected for the breakout, at the end we managed to profit of a long position.
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