E55
Short

Huge bull trap coming

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Coincidence?

I am expecting a cross of SMA until we experience another dip like the examples are showing.

At this moment a bull trap will take place. Many will think Bitcoin would make an inverse head and shoulders or it would be the golden cross.

For many, this will be a hard hit on the face.

Take care and do not get too greedy. In a bear market, something bad can happen very quickly.

But remember: You will always get new entry or exit options.
Comment: I just see again, many trader on Tradingview are bullish again.

I see some inverse head and shoulders as suspected above.

That's a good indicator that we're on the right site. I'm still bearish.
Comment: If I see a breakout or something I will inform you guys, because this will mean that we will go veeery high.

But if there isn't a breakout this will be a bulltrap.

I keep you up to date. Right now it is very difficult to predict the situation.

Patience is key.
Comment: Currently I am bullish until I reach my target with ripple.
Trade closed: target reached: Crash has started. It was a bull trap :)
Huge bull trap eh? LOL
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According to your bitcoin chart we should now touch 10.000 drop back and then bull trap to 12.000 before the selloff. Please update. Good analysis but a bit rushed imo
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Love this. Analysing what's happened in the past and what has happened in other markets is a great way to predict what's going to happen. I will be looking for this! It also matches my prediction according to my wave count.
+2 Reply
JoshThomas04 JoshThomas04
@JoshThomas04, Kind of matches lol I predicted we would go a little higher yet
+1 Reply
I think you're spot on, people are desperately trying to be bullish on BTC because that's all they know.
+2 Reply
E55 mafaizer
@mafaizer,

Here we are now, crash has started :)
+1 Reply
@E55, I am staying bearish until we break the first resistance trend: But even then I would be cautious.
+1 Reply
LOL YOU WRONG, I SWEAR. See my comment after 1 month.
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cryptocha cryptocha
I was rude sorry.
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The past 5 days of trading show a classical ascending wedge formation coming to an end within the next 24 hours. Usually a sign of reversal in favour of the bears. So I also remain bullish for the next 24 hours.
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