BTCUSD Did we just break out of the downtrend channel

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As title suggest we have been stuck in this tren for some time but watch for bull trap.And the other top
resistance line, good luck all.I needed to put this up :) Possible Bullish ??This is only advice..Want to help
a n00b start trading buy a cuppa tea for me please all donations go to my first trade.

BTC             3.75% -6.49%

Comment: The trend line got pierced, it is acting as a support line now ?Once we go back down into the line it will act as resistance again,But it definitely pierced, with a bearish candle, then another hit it exactly on top so that would become our new support line which was the main resistance line in red, so we are heading back down as i type.

I see bearish signs if you want to chime in please feel free to jump into the discussion.
Comment: I see 5-6k gbp coming possibly lower it looks like people are willing to wait after the first pump and dump in a while you are going to have to be patient.

This is bearish and will continue throughout the weekend we will see what the start of the week brings.
WHY did you base your assumption on the 30 minute. 4hr and above g
+1 Reply
chase4fun2018 Louissuguna
@Louissuguna, I just wanted to get this out there mate it happened so fast and we know if
we break a trend line like this which was in play for so long a massive correction could follow
instantly. or we could down trend further i really just wanted to get it out to people who
where considering entering at that price at that time.
Louissuguna chase4fun2018
@chase4fun2018, Check my analysis geeza
+1 Reply
Looks like we are entering back into the original trend channel lets see :(
that was a nice fake bull run, don't think people would have fallen
for that one.!!And that definitely did not look like a 5th wave.
Possible bull trap ??
This in on the 4hr and 1hr charts we have been stuck in this downtrend for some time now fingers crossed.
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