First of all thanks for the likes and dm's about the BTC idea from yesterday. Appreciate that :)
In front of you the 4hr chart of bitcoin .
Yesterday I published a possible formation, but after the move of 12hr ago there is also another possibility. The strong support and strong resistance where broke LIKE NOTHING. That was a great move (Broke s/r) . This could be a bear trap.....
So the symmetrical triangle could be still active.
If it is indeed a bear trap the price must bounce quickly and strong on the strong support. The next hours are important. If it bounce, btc will stay in the new triangle for the next days.
But... If it fails to test the strong support it will go back to the 9400 area. If that happens the will still in play, in the chart you see a light grey line what will be support of the .
The idea of yesterday of the descending triangle:
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