BITCOINS chaotic price-action is causing confusion
HEy tradomanics,
looking at the previous price-action and momentum of BITCOIN we see a little bit of mixed signals and confusion.
The recent wash-out and so called "flash-crash" is usually a strong indication for stop-loss-fishing and so a very bullish sign.
All combined with an S/H/S-Pattern which should attract more sellers to save profits or to bet on shorts actually less necessary imo.
If all this liquidity got grabbed by bigger players, we should actually see a reversal and so more strong momentum to the upside. Since we`ve seen another quick fakeout abpve the current trendline, the market continues to consolidate between the neckline of the S/H/S and TL.
What do you think is going to happen with Bitcoin in short-term? Does that wash-out soon will cause another rally? Or will this S/H/S get triggered again?
looking at the previous price-action and momentum of BITCOIN we see a little bit of mixed signals and confusion.
The recent wash-out and so called "flash-crash" is usually a strong indication for stop-loss-fishing and so a very bullish sign.
All combined with an S/H/S-Pattern which should attract more sellers to save profits or to bet on shorts actually less necessary imo.
If all this liquidity got grabbed by bigger players, we should actually see a reversal and so more strong momentum to the upside. Since we`ve seen another quick fakeout abpve the current trendline, the market continues to consolidate between the neckline of the S/H/S and TL.
What do you think is going to happen with Bitcoin in short-term? Does that wash-out soon will cause another rally? Or will this S/H/S get triggered again?
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