🏃♂️Bitcoin is moving in the 🔴Resistance zone($69,000_$65,000)🔴.
📈From the point of view of Classic Technical Analysis, it seems that a Rising Wedge Pattern has been formed, although, at the same time, we seem to have witnessed a Bull Trap, and this Bull Trap caused a new All-Time High(ATH=$69,990)to be created for Bitcoin.
📚What is the 🐮Bull Trap🐮❗️❓
🔸After a minimal rise, the bull trap forms when analysts and traders expect the price to move upward, so traders open their long positions, hoping for the price to go up. However, that’s not the case. The price goes down, trapping those traders who thought otherwise.
🔸In this case, traders without correct stop losses suffer heavy losses. They are the so-called bull trap fallen.
🔔I expect Bitcoin to fall to at least one of the Fibonacci levels( after completing the pullback to the lower line of the Rising Wedge Pattern.
❗️⚠️Note⚠️❗️: If Bitcoin makes a new ATH again, the analysis will be failed.
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Bitcoin Analyze ( BTCUSDT ), 15-minute time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
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