Shwayze
Short

BTCUSD - short correction

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hits resistance and top of trend pattern, could find way to mid-bottom channel. RSI shows slowing momentum, look for reversal sign. Minor correction.

Watch for breakout upwards. Continuation of prior trend, prepare for bull trap.

Comments

What is a “bull trap”? Looks good, thanks!
Reply
Shwayze Todd1906
@Todd1906, basically false upwards signals, like breaking the trend-line drawn. Essentially a false positive/buy signal that goes south.
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Todd1906 Shwayze
@Shwayze, Thank you! I simply call those bad trades lol @ansonphong thank you as well! Much Appreciated..
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Todd1906 Shwayze
@Shwayze, check this out.. I think it's going to drop more thn 4000 after the last sholder


Reply
Shwayze Todd1906
@Todd1906, Thanks for the chart. I would think 10k would be THE round number people would sell at, but we'll see. I'm interested to see what happens when it hits.
Reply
ansonphong Todd1906
@Todd1906, Bull trap is the opposite of a bear trap. So a bear trap, you think it's going to go down so you sell, but then it goes up. Bull trap is, you think it's going to go up and so you buy, but it goes down.
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