False Breakout Achieved.

edicted (72)in #analysis • 5 years ago

Prerequisite.

bitcoin-on-verge-of-breakout

As predicted Bitcoin has exploded out of the resistance quite easily. Support was very strong and resistance was very weak. It got such momentum that it broke out of the second resistance for a few hours as well. This false breakout is very bullish. It means this resistance line is very weak as well, and Bitcoin will explode out of it once the market has some time to collect itself.

Even more bullish is the red resistance line has now become the support... all in like a 12 hour period. This is the bottom. Get ready for November.

#steemleo #busy #palnet #bitcoin

5 years ago in #analysis by edicted (72)

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geekgirl (72) 5 years ago

This false breakout is very bullish.

How can a false breakout be bullish?

breakout == bullish, false-breakout != bullish no?

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edicted (72) 5 years ago

It was a double breakout.
One was false.
The false one is very weak.
Seems bullish to me.

I'm mostly bullish because we are over half past October,
the Bakkt dump is almost a month behind us,
but the graph action looks nice and neat as well.