Bitcoin Losing Momentum (Bull Trap) Short

Bitcoin / U.S. dollarBitstamp

Description

⋅ Aug 19, 2021 2:43 AM

Simply, when bitcoin correction touches MA 50 and death cross with EMA 50 then bitcoin will dump. In my previous analysis Bitcoin is in bearish crab and decreasing volume.

If Bitcoin can break out from 52K, it will be surprising to me because the volume is not enough to break out 50k.

Comments

NoOneWhoIsSomeone

⋅ Mar 14, 2022 11:13 PM

Ultimately this analysis was correct, just took a long time to play out! Everyone who bought the All-Time Highs in November at 69k-60k were all trapped.

Skyito

⋅ Aug 19, 2021 3:43 AM

So you assume touching MA50 is called bull trap?

hanggaa

⋅ Aug 19, 2021 3:49 AM

@Skyito, Look at previous history when bitcoin correction touches MA 50 and death cross to EMA 50 then bitcoin will dump. Not only from MA 50, look at bitcoin volume not enough to push to break out from 48K. In 48K bitcoin make bearish crab, retest previous neckline HNS, and fill gap CME, You can see in my other chart analysis (tradingview.com/chart/BTCUSDT/XixVhKq9-Where-bitcoin-can-go-bull-run-2-0-or-another-mega-bull-trap/) or (tradingview.com/chart/BTCUSDT/ydivSGIk-BITCOIN-still-on-track-to-up-49-000/)