11021992
Long

BTCUSD: On to the next trendline

BITFINEX:BTCUSD   Bitcoin / Dollar
Hey traders,

The bitcoin             has broken this bearish trendline a few hours ago. If we look on the 1 hour timeframe, we can also see that it made a retest of the trendline , after breaking out. Expecting some bullish momentum for the next few days.

Kommentar: $1.000 left until we hit the next trendline.
Trade geschlossen: Ziel wurde erreicht: There we go. Next trendline reached.
Kommentar: Very nice so far. Good bearish reaction after hitting the trendline.
Hi, I'm still fairly new but I don't see it as a bearish break or a bullish gain. I see it as a point of consolidation which almost looks like a "Head and Shoulders" pattern appearing.
There's also a resistance point at 9000 that needs to be overcome before we can call it a breakout.
There could be a bullish breakout, I just don't see enough here to make me think there is a bullish breakout.

Anyways, like I said, I'm fairly new to this and could be wrong. Just my 2 cents.
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11021992 bsalem
@bsalem, All comments are appreciated :)

Many times when there is a retest after a couple of candles, without really moving away from it too much, it will break. Of course this is easy to say in hindsight.
If you wanted to be really safe, then the $9.000 was indeed another level for the breakout.
Antworten
bsalem 11021992
@11021992, Thanks for the feedback. I'll keep it in mind.
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