noun | feyk·out
A fakeout is like when your crush texts you "hey" and you think they want to hang out, but then they hit you with the "can I borrow your notes from class?" - it's a false breakout in a market trend that tricks you into thinking the price is going up, but then it reverses and reks you. It's like the crypto equivalent of blue balls.
Example
"I fell for a fakeout on the 1-minute chart and longed Bitcoin with 50x leverage. Next thing I know, I'm getting liquidated faster than a hedge fund in a bear market. Lesson learned: always use protection when trading, and never trust a green dildo."
"Fakeouts are like the 'Nigerian prince' scam of TA - they promise you riches if you just send them some of your money, but then they disappear faster than your hopes and dreams of making it in this clown world. Trust no one, not even your own mother."
