BTC: BEAR TRAP??
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Welcome to this BTC analysis. BTC did a nasty sell-off and dumped hard. I'm expecting a bounce from 37k but it didn't happen that's why my previous chart is invalidated.
Now, BTC breaks below the bear flag in the daily time frame. So if this pattern going to be played out perfectly then we have seen a 50% more drop from here according to this pattern.
But as you know the market is not going according to chart patterns these days. Recently we have seen a clear breakout of the falling wedge and what happens after that you all know.
So I'm expecting here that Market makers trap everyone in this range and a sudden pump comes anytime soon.
Invalidation level:- If BTC daily closes below $32,800 then this analysis becomes invalidated.
What do you think about this?
Do you also think this is a bear trap or do you think that we are heading towards 20k?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this BTC analysis. BTC did a nasty sell-off and dumped hard. I'm expecting a bounce from 37k but it didn't happen that's why my previous chart is invalidated.
Now, BTC breaks below the bear flag in the daily time frame. So if this pattern going to be played out perfectly then we have seen a 50% more drop from here according to this pattern.
But as you know the market is not going according to chart patterns these days. Recently we have seen a clear breakout of the falling wedge and what happens after that you all know.
So I'm expecting here that Market makers trap everyone in this range and a sudden pump comes anytime soon.
Invalidation level:- If BTC daily closes below $32,800 then this analysis becomes invalidated.
What do you think about this?
Do you also think this is a bear trap or do you think that we are heading towards 20k?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
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