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Falsebreakout

Bitcoin Bullish ProposalBitcoin Bullish Proposal After the recent price action I've decided to re-evaluate my analysis. By using Andrews Pitchfork, I found a channel price seems to respect. Currently, price is showing a reaction to the median, so if your a bull, this might be something to keep an eye on. If price can break through the median, I believe it will go to the next major resistance at around $6100. However! This price action has verified some of my previous analyses. I still think this is a false breakout. Price still needs to drop down to one of the MA's. Either the daily 200 or weekly 200. At which point it will consolidate and then finally gain enough momentum to rally into an official bull market. Trading Bitcoin can be risky. The price channel above could be useful but I will leave that to your judgement whether it's trade-able. Personally, I am a long term holder. If you are a long term holder as well, don't let the recent price FOMO you into buying at the top. If you are too antsy, wait for it to come down to the lower part of the channel before you buy. Or wait until we come back to the lower MA's.
COINBASE:BTCUSD
by AnotherAnalyst
Who is in control? I'm not kidding! I warned!Now give me hopeful people at BITCOIN. What is the main trend? What is the largest volume? Who's in charge of this game? What are the technical indications that the game has changed? People are full of hope in TOP TRADING VIEW, they are highly manipulative people. They need to live, they need to sell their expertise on their call. They live on it. They lie! Take your money and go buy knowledge, not SHITCOINS cheap service. This is not an investment. An investment in knowledge pays the best interest. Benjamin Franklin Buy books. This market is far from over. Stop fighting the trend. Is she your friend. Now go look at my studies. I'm not famous. I do not want your money I will not fool you Now go!
BITMEX:XBTShort
by f3rG0D
A false breakout in SMHSMH has falsely break out of the 98 double top resistance level on the back of some positive general market sentiment. However, the break was short lived and it has been quickly auctioned back into the old trading range. A false pattern is a powerful pattern in itself as a failure at one side of the range tend to fuel move to the other side of the range. Now I am eye it to break the 88 major support and open doors to a much bigger move to the down side. The massive contracting triangle at the high would imply at least two legs down. Now we only have seen the first leg. The break of the 88 support would be the beginning of the second leg.
SShort
by chenb1981