kix_

Are we in a massive BTC Bull Trap?

kix_ Updated   
BITSTAMP:BTCUSD   Bitcoin
MAJOR Lines:
RED - 365 Daily Moving Average (365DMA)
BLUE - 365DMA * 1.618 (Golden Ratio)

Lines From Top to Bottom:
365DMA * 21
365DMA * 13
365DMA * 8
365DMA * 5
365DMA * 3
365DMA * 2

365DMA * 1.618
365DMA

365DMA * 0.886
365DMA * 0.786
365DMA * 0.618
365DMA * 0.500
365DMA * 0.382
365DMA * 0.236

Analysis:
Each new cycle has been marked by a diminishing top based on Fibonacci multipliers.
x13 has been reached in April 2013.
x8 has been reached in November 2013.
x5 has been reached in December 2017.
x3 has been reached in April 2021.

Soon after each top has been reached, BTC dropped back to 365DMA support level.
Following later by an attempt to retest Golden Ratio level from below.
These events are marked as yellow rectangles on a chart.

After an attempt to retest Golden Ratio, BTC has always entered a prolonged downtrend
to find market bottom at 365DMA * 0.382 (lowest green line)

Is this a massive bull trap before a final push below 365DMA?
Comment:
Ignore 365DMA * 0.886 in lines from top to bottom description. That line is not present on a chart.
Comment:
My older TradingView account with interesting previous market calls: u/KIIX/
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