Forex_Academy

Bitcoin false breakout

BITFINEX:BTCUSD   Bitcoin
Price decreased after the false breakout above the median line (ml) of the minor ascending pitchfork and above the 6425 level. The current decrease was somehow expected after the impressive rally. I've told you on Saturday that only a valid breakout above the median line (ml) will confirm a broader rebound. It is pressuring the sliding line (sl1), so a rejection could send the rate higher. Personally, I believe that only another false breakout or a failure to reach the near-term resistance levels will really signal a significant drop.
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