#jawasukses #jawacrypto $BTC False breakout!
like my post last week, BTC formed LL LH. possibly consolidating at 61.62 then rising to test 70 once again.
A false breakout is when the price penetrates the support/resistance level that occurs during consolidation, but does not continue to move in that direction. What happened was just a very fast price spike but then the price moved back into the consolidation support & resistance corridor.
There are lots of traders who are fooled by this fakeout and as a result they are unable to make a profit from trading. The most appropriate way to avoid this fakeout is to wait until the price reverses to the previous direction and see whether the price forms a new high (for uptrend conditions) or a new low (for downtrend conditions).
Another way is to not rush to open a position the first time you see a breakout. Wait until you can really confirm that there is an uptrend or downtrend after the consolidation period
like my post last week, BTC formed LL LH. possibly consolidating at 61.62 then rising to test 70 once again.
A false breakout is when the price penetrates the support/resistance level that occurs during consolidation, but does not continue to move in that direction. What happened was just a very fast price spike but then the price moved back into the consolidation support & resistance corridor.
There are lots of traders who are fooled by this fakeout and as a result they are unable to make a profit from trading. The most appropriate way to avoid this fakeout is to wait until the price reverses to the previous direction and see whether the price forms a new high (for uptrend conditions) or a new low (for downtrend conditions).
Another way is to not rush to open a position the first time you see a breakout. Wait until you can really confirm that there is an uptrend or downtrend after the consolidation period