Downtrend resistance to be broken, but only for a bull trap.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This downtrend resistance is too oppressing, and would lead BTC to very low levels (1K - 4K) in a matter of weeks, which is unrealistic.

BTC may very well reach these low levels (1K - 4K), but such a gloomy market sentiment, if it comes, would take months to set, not weeks.

At the moment. volatility is decreasing. So, a strong sell down to 4K, right now seems more unlikely than what I thought a few days ago.

Trade closed: target reached: So the title was right :----)) we see now that the bounce in May was indeed a bull trap.

I make 1 to 1 tutorials (1 hour) to explain my method, if you are interested in knowing where BTC is going, on the medium term (2-6 weeks)
Contact me on Skype: fx.hardy

Cheers everyone))


Very good! Where do you expect a big rebound to come from?
+1 Reply
The_black_swan reverie153
@reverie153, I don't expect a big bounce soon.

Follow for my July prediction.
+2 Reply
Well done :)
+1 Reply
Alright, this was awesome prediction. Would you mind sharing what indicators lead you to make it?
The_black_swan highwaytrader
@highwaytrader, I do not use much TA, that's why the chart is simple. I use fundamental indicators.

The irony is that I don't have much money to invest, so I was thinking of selling my two indicators in some kind of 1-to-1 tutorial.
+1 Reply
OSx28 The_black_swan
@blacksun, That's a great idea man, very fair. It's your intellectual property so to speak, hopefully you can multiply that with wins from your trades :) . I'll be contacting you in the next few weeks when I have time to get on skype.
+1 Reply
@OSx28, Thank you for your support!
+1 Reply
Here is my new forecast for May-June.

My forecast for March-April was right for the levels but a bit off in terms of timing.
So is this still a bull trap?
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