Don't be fooled by bull traps Don't be fooled by bull traps Don't be fooled by bull traps Don't be fooled by bull traps Don't be fooled by bull traps Don't be fooled by bull traps Don't be fooled by bull traps Don't be fooled by bull traps Don't be fooled by bull traps
Don't be fooled by bull traps
Don't be fooled by bull traps
TWIMARKETCAP
⋅
I like it! Makes sense to touch the previous all time high
MPH_
⋅
@TWIMARKETCAP, it does. conventionally... but bitcoin does not entirely adhere to traditional chart laws, as you can see the 2013 high was never re-tested. keep in mind literally no one can say with any certainty what will happen.
ghorbanis437
⋅
any monkey has short ideas today..so I go long f u
MPH_
⋅
@ghorbanis437, you sound like a child. there are clear, viable reasons here as to why it still could move lower. could. no one knows for sure. you clearly don't understand technical analysis. quit with this bashing of people that see things differently. perma-bulls like you who don't understand anything other than "price go up" are literally the most annoying thing to have to deal with in crypto.
Joy_Bangla
⋅
Who was trapped there?
MPH_
⋅
I don't disagree with this theory, but I also don't think it is guaranteed to move lower. Who really knows. I'd love some more downside to accumulate, though, and have felt this was a wedge forming since initial move lower.
A couple lines to support your theory:
Egregius
⋅
Why not compare to any 2 peaks between May 2016 and Dec 2017 though? Similar 2 high RSI peaks and dip towards the middle.
MPH_
⋅
@Egregius, that is a good question, and we certainly could move higher from here. that timeframe was during a clear uptrend, though. much less clarity at the moment. you could almost perceive those as one peak, really. whether we move up or down from here, the RSI will need to move into oversold one way or another eventually.
relievedHawk1
⋅
Sorry, but the RSI on this timeframe doesn’t provide a conclusive argument about a bear market. Those red rectangles are not revealing anything specific, and history doesn’t truly repeat itself identically..
Don't be fooled by bull traps