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holeyprofit
Aug 29, 2021 8:12 PM

BTC bull trap of 2017  

Bitcoin / U.S. dollarBitstamp

Description

The currently weekly chart of BTC matches all the stages of the daily chart bull trap in 2017. This implies we might be on the verge of a longer lasting crash, taking five times as long as the 2017 one.

Matching points on daily 2017 and weekly 2021;

  • 50% drop
    W shaped double bottom
    Into bull trap of about 15 bars
    Retracement levels of 61.8%


Bitcoin bulls have come to expect quick recoveries, but this might only be starting.
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ImminentDebacle
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