Re: [Flash Report] Bitcoin Resuming Recovery - 12/12 Before Asia
@empoweoqwj -- I see what you're saying.
Bitcoin was adhering to it's downtrendline. Then it broke above it with umph. Not just crawled above it, there was strong buying pushing it through it's downtrendline. That was a sign of attempting to recover. I had messaged our traders earlier that day to look for a break "with umph". And bitcoin did it = attempted recovery.
[Sorry I didn't make that clearer in my original post.]
But then the overwriting caution that confluence was negative. So despite the attempting recovery, be cautious.
So I got a signal that happened along with the trendline break. Because it happened with the trendline break, I took it. But with confluence being negative, I didn't expect it to go far (hence the caution.) So I took a quick profit off it (about $40), instead of letting it ride.
Bitcoin was adhering to it's downtrendline. Then it broke above it with umph. Not just crawled above it, there was strong buying pushing it through it's downtrendline. That was a sign of attempting to recover. I had messaged our traders earlier that day to look for a break "with umph". And bitcoin did it = attempted recovery.
[Sorry I didn't make that clearer in my original post.]
But then the overwriting caution that confluence was negative. So despite the attempting recovery, be cautious.
So I got a signal that happened along with the trendline break. Because it happened with the trendline break, I took it. But with confluence being negative, I didn't expect it to go far (hence the caution.) So I took a quick profit off it (about $40), instead of letting it ride.