BTC- BEAR TRAP?
Hello My Friends!
If we look at price action in terms of price action. We can clearly see these are 2 pinbars plugged in.
If we rush we will quickly conclude, the next few weeks the price of bitcoin will plummet.
However, when we look closely, we see 2 pinbars plugging above the support zone, not at the resistance zone. The bears tried to push below the support zone but failed both times.
The volume in these 2 weeks is not large, not strong enough to break this big barrier.
The RSI is not 100% reliable. However, it is also an important tool for us to have more data to make judgments. Here I also see a closed bullish divergence.
Conclusion, Personally, I think this is a bear trap and this pinbar pair is a reversal candlestick pair.
The greater the opportunity, the higher the risk. Risk management is important. Buying at the support zone, and placing a careful stop loss will keep us safe in the worst case scenario.
Let's be patient and observe the direction of the market!
Best Regards,
If we look at price action in terms of price action. We can clearly see these are 2 pinbars plugged in.
If we rush we will quickly conclude, the next few weeks the price of bitcoin will plummet.
However, when we look closely, we see 2 pinbars plugging above the support zone, not at the resistance zone. The bears tried to push below the support zone but failed both times.
The volume in these 2 weeks is not large, not strong enough to break this big barrier.
The RSI is not 100% reliable. However, it is also an important tool for us to have more data to make judgments. Here I also see a closed bullish divergence.
Conclusion, Personally, I think this is a bear trap and this pinbar pair is a reversal candlestick pair.
The greater the opportunity, the higher the risk. Risk management is important. Buying at the support zone, and placing a careful stop loss will keep us safe in the worst case scenario.
Let's be patient and observe the direction of the market!
Best Regards,
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.