Exactly as hypothesized, the weak breakout we had pushing the price to 42$ was nothing but a bulltrap and the true direction shows with the big drop showing the breakdown under 40$. Looking for short term targets at 30-35$
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The last comment of this idea really shows the power of this trading strategy in combination with the donchian channel
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As the breakdown happens, we see the classic retest pullback where it will most likely consolidate before heading lower. A good place to add to existing shorts
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Update: retracing higher here, next point of resistance:
