Potential violent move setting on Bitcoin. Price has consolidated below the weekly support (6666). A potential drop to $1.780 or 70% from current level. A while journey so fasten seatbelts. If the 6666 is not taken then the downside is the way.
Comment:
Potential bull trap taking longs into the breakout. If price prints a daily pinbar then it´s a great entrie point with reduced risk
Trade active:
Looking at daily PA, current price is taking more bulls into a trap. A pin bar followed by 2 inside bars (consolidation pattern) followed with a breakout to the upside with no continuation ( price is returning into the consolidation area) takes bulls to believe in the upside move. All this longs have their stops below the pin bar low. If price gets there it should trigger an accelerated move to the upside. Start to open shorts in intraday time frame