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wersh123

BTC might be repeating its history after breaking the downtrend

Short
Bitcoin (BITFINEX:BTCUSD)  
wersh123 Updated   
BITFINEX:BTCUSD   Bitcoin
Trend Analysis
22
2
trendanalysis
Breaking the downtrend channel might lead to massive selling afterwards.
Comment:
be cautious since the weekly candle is far from closing. it does still needs another 5-6 days to close the candle. in another case, it might be a bull trap as seen in previous downtrend break
Comment:
Since 2014's bull break was made in a short period of time, it took almost 2 years in distribution phase. While 2017's bull break took longer than the previous bull break, it appears that distribution phase went shorter this time.
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