We are having a nice little bounce here, but don't be fooled just yet. I am very convinced this is a bull trap to get everyone to go long. Then we will likely break this upper falling wedge resistance trendline and convince the market we are reversing before having another shakeout to liquidate the longs and then continue up.
If you are holding for the long term then don't worry. We might get a few good short term trade setups over the next few days.
I am looking for some kind of rejection from the 46-48k level.
A little pain relief over the last 2 days, especially to those who bought BTC at 40k area.
Watch out for the bearish order blocks in the image (light blue lines) We will likely see a rejection at one of the 2 blocks.
Trade safe guys. Don't get comfy just yet!
If you are holding for the long term then don't worry. We might get a few good short term trade setups over the next few days.
I am looking for some kind of rejection from the 46-48k level.
A little pain relief over the last 2 days, especially to those who bought BTC at 40k area.
Watch out for the bearish order blocks in the image (light blue lines) We will likely see a rejection at one of the 2 blocks.
Trade safe guys. Don't get comfy just yet!