Bitcoin Bull Trap, April 2018 or just a Correction

Sa danger is starting now, some volume on the drop as well but even more, we are back in the wedge. Think now it's important to see, if we drop towards 9600/9650, it will get dangerous i think because then we could make a right shoulder for an H&S.

Now just look at the weekly candle, how manipulated it is. Creating a big buy signal, but without wasting time whales dump it. Because if this reason (happens a lot), i don't give value to weekly candles.

On the left i have drawn 2 lines, assuming we drop some to make that right shoulder. The red one, would suggest accumulation and a failing H&S, the blue one would keep things dangerous for the bulls. So a break of 9600ish, can be dangerous, especially if it breaks with violence and high volume. If it breaks hard, we can drop a lot more coming week or 2. If things slow down, it could just be a basic correction, something like the wave from 9200 to 8300 2 weeks ago.

ETH which i showed in my previous BTC analysis, has (almost) reached it's target. Reaching targets could be turning points, but not always.


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I have not been around much past days, coming days also not sure. I see a lot of serious questions in my previous analysis, really want to answer them but have not been able to past weekend. If you want to get them answered, copy paste them in this analysis and i will really try to answer them this time.


Previous analysis:

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Update i did a few hours ago:

Still no bounce, still weak at the moment. Things can easily change of course making a bear trap, who knows. But if we stay below 9840/70, we could see another 300 point drop, assuming this shape is then a bear flag. Also that problem bulls have, of dropping back in the wedge, is big. If bulls push it above 10.000ish, they will invalidate it.

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looks as if bulls are trying to push back. First win was breaking 9850 again. Now once again seeing resistance around 9920ish, but looks as if bulls are trying to make a neckline here.

So things are improving slowly for the bulls again, while yesterday it looked as it would prob drop some more, now i am not sure. Bulls could make like a small inverse H&S here, think that green on the left around 9800 should not break anymore. If bulls turn it up again, break 9920ish, think the 10.000ish will prob also break and would invalidate that bearish sign i have talked about.

So at the moment would say we are in the neutral zone, think below 9700ish its bears in favour and above 10.000ish the bulls.

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New Bitcoin analysis: