BTC bull trap idea 1

CME:BTC1!   Bitcoin CME Futures
In previous bull markets, Bitcoin has been having 30% to 40% corrections every 180 to 240 days. We have already had almost 200 days since the last deep correction in March, and so far we've had only 20% corrections. This gives us a higher probability of a deeper correction in the near future.

A lot of people are speculating that BTC will fill the CME gap at $9,600 and as we know, Bitcoin likes to do what people expect the least. As a result, instead of the drop , we can see a bounce from the bottom of the channel which coincides with the 21 weekly MA. If Bitcoin manages to break the $12K resistance, we can see it quickly reach $14K, which will bring us to the top of the channel and can lead to a strong pullback of 40%. Basically, Bitcoin can turn bearish exactly when everyone turns very bullish . This can be that strong 40% pullback that we would be long overdue and can lead to filling the CME futures gap as well. After that, it's possible to see a quick bounce back up where we could turn our previous support into resistance at $12K again.


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