BITCOIN - Possible Fakeout Scenario (Be aware!)
Hello guys, the price of Bitcoin (BTC/USD) is currently moving above the EMA 20, which indicates a possible uptrend.
Please be aware of a possible Fakeout scenario, which we have seen multiple times in the past (yellow boxes).
As long as we don't see a higher high (above $7.450) our trading direction is short.
I'm expecting the price to make another move towards our next support, located at the $5.200 level
from where the price could bounce in anticipation for the Halving event.
I don't see any reason to be bullish after this event.
Trade carefully!
cheers,
cryptobuller
Please be aware of a possible Fakeout scenario, which we have seen multiple times in the past (yellow boxes).
As long as we don't see a higher high (above $7.450) our trading direction is short.
I'm expecting the price to make another move towards our next support, located at the $5.200 level
from where the price could bounce in anticipation for the Halving event.
I don't see any reason to be bullish after this event.
Trade carefully!
cheers,
cryptobuller
Strategies, Insights & Education: t.me/KOLAcademy
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