«We had six days of price action above those gaps where we trapped
the bulls on this breakout.»
Not exact matches
We also want to be
on alert for
bull trap reversals
on breakout (much like we saw in the bear trap).
In my last post (
Bulls on the Goal Line) here at iBankCoin we identified the inverse H&S
breakout and we were sitting just below the 2134 all time high.
However, if
bulls fail to
breakout and sustain above the lifetime highs, we are likely to witness a few days of range - bound trading between $ 0.61
on the lower end and $ 0.88268
on the upper end.
However, if the
bulls»
breakout to new highs and sustain it, the next target
on the cryptocurrency is $ 995.99.
Notwithstanding, if the
bulls»
breakout to new lifetime highs, then the next target objective
on the upside is a rally to $ 497.53.
The Bitcoin Cash seen trading up marginally of 0.5 % during late trading
on Friday, following a
breakout to the upside of a
bull flag seen
on a 1 - hour time frame.
We had recommended buying Bitcoin Cash
on a
breakout above the range, however, the
bulls could not push prices above the 20 - day EMA and the overhead resistance.
The
bulls were unable to capitalize
on the
breakout of the range.
Ripple price was among the few gainers
on Saturday as the trendline
breakout on intra day charts gives thrust to
bulls to hold control even as many other major cryptocurrencies struggle to find the green shade.
Another exchange is hacked, more posturing comes from Regulators, and SegWit and Bitcoin Cash hype replaced by the pending new
breakout Bull of Bitcoin as it pushes
on to $ 5000.
Sell immediately once the target is hit as it is unlikely that the
bulls will complete the
breakout on the next attempt.