alensp

BTC on false upper breakout??

Short
COINBASE:BTCEUR   Bitcoin / Euro
A breakout that just occurred could be false...

If you look at this chart and the breakout goes to the other side sometimes today, we should see BTC going down to the 5.400 - 5.500 based on a bearish triangle and after some bounce of FIB 0.236 all the way to 4.000 based on H&S target.

Pay attention how well FIB Retracements fit to this downfall from 9.600 so I think it's a good possibility this could happen.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.