Get started
Cryptoblooming

BTC (Bull Trap)

Bitcoin / TetherUS (BINANCE:BTCUSDT)  
Cryptoblooming  
BINANCE:BTCUSDT   Bitcoin / TetherUS
Trend Analysis Chart Patterns Technical Indicators BTCUSDT bulltrap trading signals Fibonacci Retracement indecisive
4
0
trendanalysis chartpattern indicator btcusdt bulltrap trading signals fibonacciretracement indecisive
BTC first rejection on fib 0.786 (47264.39) resistance. i would expect some retracement towards 45954.34 again to retest the support before another attempt to break resistance fib 0.786 (47264.39). The bullish price action started from 21 Dec till 27 Dec forming the HNS pattern with a double top. It's clearly a bull trap and bearish pattern. in order to not be tricked and to have a strong confirmation on trend reversal. BTC has to break above 52K key resistance.

BTC 1H
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.