Short this!!!! I can't say this enough, a large bull trap is being played out and everyone is being blinded by greed, hard greed. Now this may look a bit confusing from the picture but basically, we hit the .65-.618 fibonacci retracement on the way back up which we also did in July of 2018! Now this was a cause for concern at first, but then also i noticed the pattern is the amount of the drop both hits the .236 on the retracement fibonacci retracement placement! Now what does this mean? It does not mean the price MUST go down, but it is very distinguishable that it might. What is also scary is the market sentiment right now. The majority remains extremely bullish, and the majority lets face it, is usually wrong. Let me know what you think of this in the comments, would love to hear some collaboration for this!
I wish you good luck trading!
-Trader Demo
<3 Space Peso
I wish you good luck trading!
-Trader Demo
<3 Space Peso
Comment:
So I have noticed this ascending triangle formation over the past few hours, and may break up,
I have labeled where i think the price will react and went to enter a long and confirmation of a movement in price. I still believe this will be a bull trap. Stay safe!