Cryptor07

RSI 14 to 60 = sign of Bull Trap for the end of April?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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1385 15
My previous publications provide for 6 months a Bull Trap close to ~ $ 6k

The situation of RSI 14 similar to that of the 2015 Bull Trap post-Downtrend seems to be an additional indicator that this risk is imminent

Some reminders:
I recall that the bullish influence at the output of the symmetrical triangle (see my previous publications) is technically complete.
Only the current presence of an ascending triangle , who is a continuation pattern (see my previous publication), can hope for a $ 6k, but nothing more.
On the other hand, the spectrum of the historical resistant oblique, although crossed, remains strong, among other indicators already detailed previously (MA crossing...)

DISCLAIMER: Invest only what you can afford to lose. Do not listen to any "prophet".
Beware of your own emotions potentially disconnected from the market reality (panic / euphoria ... FUD / FOMO)
Trade active: It's a detail (but difficult to fight against my exacerbated perfectionism): note that I mistakenly displayed the 2015 chart in logarithmic and not that of 2019.

Here are the two in LOG to emphasize that the similarity is even more obvious (especially the isosceles triangle at the beginning of the year):



Otherwise, the bullish output of the little ascending triangle has been validated as expected by my scenario above. For my part no regrets to be in USD / USDT, because the Altcoins, on which I was, absolutely not benefited from the Bitcoin pump, on the contrary (released at 2990 Satoshis on XLM see my corresponding publication, same ADA, GRS, LIF ...)
Trade active: The logarithmic scale also seems to reveal an ascending wedge evoking a particularly bearish exit in a few weeks :

Trade active: An additional point of failure @ 5k7
that validates more and more my idea of ascending wedge:

I think the current is similar to the bottom of 2015. What do you think? Please give me a advice.


+1 Reply
@pkb6698, Hi! I think you're still the best representative of my ideas for South Korea, I'm always proud of you my friend!

But why a shorter timelap around the 2020 Halving compared to the 2016 Halving ?
I liked precisely the idea of the bubble and its bursting around the 2016 Halving (2016-05-16 to 2016-08-15)
that you don't align anymore around the 2020 Halving, too bad ? ;)
Reply
pkb6698 Cryptor07
@Cryptor07, Thank you for your advice. There is no particular meaning for the shorter period. I think it is gambling to anticipate the future of a long frame.
I expect the next bubble to be in the fourth quarter of 2021. This is irrelevant to the charts, and it only engages with a period of great change in the global economic situation I think. Your comments helped me a lot. Thanks again.
+1 Reply
$3400 here we came! Hold your breath because we might see a V bottom on the horizon!
+2 Reply
Flav_ma Flav_ma
@Flav_ma, come*
Reply
@Flav_ma, How do u mean that exactly ?
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Flav_ma Bitcoinblue
@Bitcoinblue, BTC is setting up a big short to a lower low in my opinion. Somehow, CME doesn't feel as bullish as retail, which makes me think we are soon or later going to revisit new lows.
+1 Reply
@Flav_ma, Thanks for your explanation. I partly share that vision too. Although I do think the market can change slidely due too a different adoption level.
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its not going to happen, bitcoin is far different now it's no longer a secret how easy it is to make money here
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@leokim, its going to happen, bitcoin is far similar now it's no longer a secret how easy it is to lose money here

it's crazy as with banalities we can say everything and its opposite o_O
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