BITCOIN after the FOBO ! ( FAKEOUT BREAKOUT)

6 окт.

BITCOIN, after the FAKEOUT BREAKOUT, has re-entered the bearish channel that we’ve been monitoring for several months. This was a false breakout, which left many of us hopeful for a bullish market, but it turned out to be the opposite!

But no worries, we must wait. The important thing here is that, within the bear market we saw last week, the price bounced off a very important and key zone that we’ve been tracking for several months.

This purple zone is what I call my inefficiency zone, which I also consider one of the strongest areas where Bitcoin has previously made strong impulses.

The only thing we should consider here is that Bitcoin will likely try to break the channel again. We can’t do anything until the price is on the other side of the channel. It’s that simple! Don’t try to enter right now because the price could pull back. Always pay attention to the immediate structure being presented and WAIT!

We already have confirmation that the price has bounced within our inefficiency zone. Now, we just wait for the breakout, so patience is key!

That’s my advice for this week.

Best regards, and thank you for supporting my analysis.