InstitutionalTrader

BTC - Final BullTrap - before the real bullrun ?

BINANCE:BTCUSDT   Bitcoin / TetherUS
Okay so, i made this chart 2days ago, and so far its following my prediction, it just tested 11.2k and failed to break resistance so now we fall for bulltrap and heading down to 9.2 - 9.3k and testing support if it doesnt hold we're going sub 7k. Lets see how accurate it is :)
Trade active: We're going to test 11.2k resistance now and if we break and stay in this channel its possible to go all the way down to 10k and if we dont break resistance and stay above it, this would confirm the bull trap. For more questions and updated charts visit our discord server : https://discord.gg/EeGD6Pk
Trade active: BTC is going to test 9.3k today or tomorrow, be ready to buy in if support holds, otherwise, wait for the real crash, ill update the chart if support at 9.3k doesnt hold!

Comments

agree
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This is exactly my thoughts!! I couldn't predict which way it could go though, will be interesting to see how it pans out.
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This type of TA is called RED ARROW analysis or what? Even if the target might be correct, this TA is nothing more than painting. Around 9k would be healthy and fine.
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InstitutionalTrader TobiasSombrowski
@TobiasSombrowski, I know what TA is and this is just as simple as I could so you dont see too many lines and get confused. This basically indicates the same partern as before, 3 waves repeating itself so we could see potentional bulltrap and most likely "healthy" dip to 9.2k anything bellow this would be extremely dengerous and could see the real bottom at 6k again.
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TobiasSombrowski InstitutionalTrader
@InstitutionalTrader, Agree, repeating pattern are visible and might repeat, but if this is the only base for an call, you could call BTC at 0USD, since the pattern would always repat and according statistics even be more propable to repeat as it repeatet n +1 times already. Just there are other indicators telling that something changed. Pattern is same, volume is different. since 6k 'bottom' (future will tell) continous high volume. Higher than during november/december bullrun. MACD daily, weekly as well. I dont want to call bottom is in or bearish or bullish continuation. Just wanted to mention that 'repeating bars pattern' is little too easy in this game, if so, it would either go up forever, or go down forever, or forever sidewards. but it will not do any of this, statistically the chance for 'forever down' is the best, but even this would end at 0.
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looks about right to me
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Great user name, REKT !
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@Damians, Thank you :]
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