Bitcoin Downtrend Channel Breakout
... and just like that I'm stopped out of my short Bitcoin trade as price bounces up and out of the downtrend channel. Time will tell if this is a true breakout or bear trap, but for now I have to respect the process and when the chart says to exit short trades I exit my short trades. Shift from bearish to neutral for now, will need to see a continued move higher this week to confirm trend shift from bearish to bullish.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.