Huge bull trap coming

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar

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
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
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

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.
cryptocha cryptocha
I was rude sorry.
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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