Bitcoin just had a drop to the 17.600$ levels on Binance and bounced back quickly now trading at the 18.200$ levels once again. Since the drop was not followed by a big change in the total marketcap it's starting to feel like a very elaborate bear trap. We will see if this is the case in the following days.
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I seems bitcoin took the road to the upside. Although it might seem like a breakout is close, I do think this will probably be a fakeout. Even on the 4h chart we can clearly see a head & shoulders pattern forming, which may validate my second scenario with a drop to the 17.100$ levels. I am watching this closely as I think we will find out after the weekly close. Trade carefully friends !
Comment:
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