BTC Moving inside Micro channel

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
430 2
BTC Moving inside Micro channel
Comment: could touch 7900
Comment: it could be a bear trap - unless it move past 8022
Comment: To be going down , BTC has to exit past 8022 . if not its a Bear trap and a fake drop
Comment: two minute Graph version - if BTC hits 8110 this will makes double bottom .
So BTC can bounce up here.

Comment: The two minute Graph above shows BTC has bounced off the double bottom at 8110
8175 is required to confirm the bounce upwards.
Comment: this is a bear trap shake out, which can drop to 7900/7800 or worse case 7400.
One this bear trap completes BTC should shoot back up and complete the movements to the 8800 area.
The real Bull-trap happens comes after BTC hits close to around 9k and will drop BTC close to the 4k area.
Comment: BTC can attempt reversal here at 7900

Comment: There perfect bounce spot will be around 7460 and the reversal at 7900 should be temporary .

clear, let's hope now!
@mycotoxin Thanks for the update! Watching the micro channel as well.
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