Today I am showing my bitcoin Descending Wedge Bull Trap Scenario. We have seen this pattern at the 60k area and now we are seeing it yet again in the 40k area.
Here are the Technicals:
1. Bearish Price Action - Volume is going up as Price is going down
2. Weekly/Monthly showing signs of cycle exhaustion. - The monthly Chart has maxed out on...
Let's get straight to it. The exact opposite happened after my last post and i still made 6.5% profit. Even the best investors have 67% win rate. So, how do you still make money while being wrong?
First, charting and trading are two seperate skills. You can be a very good charter and a terrible trader and vice versa, because it's the execution that...
We have a Bearish Shark visible on the Weekly with Bearish Divergence and a Huge Spike in Weekly Volume after an extreme upside Breakout. I never heard of this stock before and i hardly know what they do but just looking at it tells me that there are a lot of bulls betting for more upside up here and that any amount of selling below the breakout zone can easily...
Im seeing a lot of signs for a Mini acumulation zone of BTC, this analysis comes with a trade im doing. Right now the price can be doing 2 things:
1. 20% chance BEARISH > UTAD( Upthrust After Distribution) Test.
2. 80% chance SHORT TERM BULLISH > Start of Phase D, This can be a START of a Tendencial Move to the upper zone of the bigger range...
accept Reality, we aren't bullish at this point, nor will we be, if u wanna follow, do so, if u don't, just don't fall into the trap of moons and stars ;)
SL at 60k,
will ladder till 53k if it does deviation,
Tps given, i'll be personally holding this and will take profits at 26k ;)
I have made more than I could have hoped for during this last month on many alts, harmony has been good - not great so I’m going to look to take profits on my alts including $one into the next rally above 51k
Then once btc goes above it’s all time high I will re enter on the first pullback. I am going to be cautious not bearish and I urge others to be cautious...
A nice observation could be this of 8 and 21 weekly MA on BTC, noting in mind that an attempt to make a golden cross after the death cross was made which always resulted in more than 60% correction ;)
if u have any money on spot, i'd recommend to get out b\w 50-52k after that a dump to 26k follows ;)
I have nothing to say. The chart speaks for itself. Although my earlier charts were slightly off by 1k. Shouldn't have made a difference. The levels were on point because of VSPR.
All we can do is pray we are not. BTC should start following plan B model really fast if we have to go 100k and follow 2013 cycle.
Till then. Happy trading my bulls and bears.
Greeting from IRAN to whole trading community
What Is a Bull Trap?
A bull trap is a false signal, referring to a declining trend in a stock, index, or other security that reverses after a convincing rally and breaks a prior support level. The move "traps" traders or investors that acted on the buy signal and generates losses on resulting long positions.
so we previously had the top in @52533 k so wernt far off, im still looking at this playing out as a smaller fractal of the run up to all time high, and have mapped these points to watch for the next move down wards trade safe and look out for the right shoulder to complete
LOST IT ALL FOR GOOD NOW GOT LIQUIDATED OF MY LAST CAPITAL😌
IF this helps you out pls consider a donation Im sorry I just don't know what to do at this point.
Put the last of it into DENT 0.0058 entry got liquidated at 0.0043 bottomed out at 0.00395 on futures. Didnt anticipate BTC dropping below 46K and now I've got no capital and dont know what to tell my mum....
This is how I believe the market will play out. I think that we have reached the peak of the bull trap and that soon there will be a lot of fear entering the market. Until Q1/Q2 2022 where we will see a large adoption phase of Blockchain technology.