i think because we are not breaking below this area with force then this is a very possible bear trap. my guess is a slow climb up until the fed meeting
so this is yet another drawing ive had drawn for over a month. the upward trendline is recently added. i missed such a beautiful long opportunity because i really thought we were heading to the untouched liq zone before we ran up. then powell talked and basically said buy the dip, sell in may and walk away. i still think there is room to climb at least until next...
this is the pattern that you see in forex trading pretty much all the time. crypto is just forex on steriods and if you memorize this pattern i promise you will see it play out more than these "typical" patterns.