DavidePugliese

BTCUSD Just a pullback?

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I think this is still a pullback. Usually false breaks happen within a 1.125% extension of the previous range.This low was broken within at least a 1.25% and this catalogs this break as a real break and not just like a possible false break.
Let's see how this plays out.

Enjoy.

Comments

So you meant: long
+1 Reply
When the break of the trendline happens I draw a downward median line set and I sell the retest.
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To go with the trend (short) I have to wait at least for the break of the current bullish trendline to have the sell signal.
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Well, I prefer to go with the trend. Right now the pullback is a counter trend, this reduces the probability on my favor by at least 10%.
I would prefer to see for the break of the up-trend of this pullback to go short.
The fact that this is not a false break, to me, makes me believe that this is just a pullback. A pullback means a correction. The main trend to me is down.
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Yes i am confused? You say, you still think this is a pullback, then its not a false break but also put 'short'?
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