Short failed breakout

5 ก.พ. 2019

I would like to remind you that we are still in a big downtrend and those attempts to go to 4k are simply funny. We have tested the bottom trend line which is a bottom of a bear flag( or wedge) 5 times, which means 1-2 more attepmts will smash all the bulls that are not getting rewarded enough after their desperate buying pressure to reverse the trend. We might soon break down of this bear flag and the dump will probably go under 3300$ as all the bulls trying to reverse the trend will be trapped and forced to sell their longs just under the wedge where they have all the stop losses. Most of the trading is done by computers ->which means they patiently wait to short at a certain points or areas, not forcing their trades at all.