Was this a break out or a fake out?
Bitcoin broke out and has since retested... will it hold?
So far, bitcoin has behaved exactly like it should.
It broke out of a long consolidation phase and then retested the break out.
Check it out:
(Source: https://twitter.com/rovercrc/status/1551208580153499649/photo/1)
The only question now is whether this breakout will actually hold.
The previous ones have not which have lead many to speculate that this might be another fake-out...
We will find out shortly.
It looks like a breakout due to some fundamental reason like Russia and Ukrain war
Your post was upvoted and resteemed on @crypto.defrag
Upvoted! Thank you for supporting witness @jswit.
Oh! Hope it’s not a negative one!
Technically and historically, what I see is a continuation pattern of price declines. Faking out is the usual thing done by market makers. And in my opinion, in the near future, with the announcement from the FED, maybe we should anticipate the market will tend to be volatile and this will encourage prices to continue their decline as well. I am currently doing a short position in the futures market.
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