BTC: Makaveli๐ฆTrader & The Incoming Bear Strike(BullTrap April)
Hello!๐, its me the Gorilla Trader again๐ฆ...welcome to Makaveli & The Bitcoin Bears๐ปTechnical Analysis .
Oh yes! you heard me right, I know everyone out here is preaching buy or long to 100k and all that, but you are not going to get that from this analysis so I don't expect everyone to agree or resonant with this analysis but if you do, please do give it a Thumb up.
I do see from the current market that bulls have had quite a good run and even though No one knows when or how a long term bull market will last or end, Pullbacks and retest are all seen as normal in every market, a pull back on a lower timeframe will not even be noticed on a higher timeframe, but a higher timeframe pullback will look like a deep dive on lower timeframe.
We don't see price running in parabolic move but when they do, they always lead to a retest of the beginning of the move before the trend continues, this made me decide that taking a ride with the bears won't be such a bad idea anyway , so I am going with the bears as Bitcoin is on a crossroad with a strong bull trap.
But Mind you, this is a bull market cycle so we are still in a strong bull trend but.......There is a strong but here for me. What do you think will happen when the monthly chart finally take a pause and pulls back?
take a look at this beautiful chart
I see a bear revenge candle incoming on the monthly chart, just one bearish candle on the monthly will change so many things but the trend will remain bullish because This is a bull market cycle meaning that after the pullback the upward move continues, this pullback because its on a monthly candle can push BTC to meet 40k and 20k if the sell up continues like I see it coming.
April seem like the month this could potential begin, and here is why I think so..I do see a more possibility of breakdown than up, the 60k to 62k resistance is a tough one, and has potentials of falling the bulls hand big time here.
For bulls to make it to 68k, 60k to 62k resistance has to be won over but I don't see that happening soon.
I see a strong Bear strike coming in April(this is not a financial advice please do your diligent research)
This is a monthly and weekly chart analysis. Thanks for reading.
Oh yes! you heard me right, I know everyone out here is preaching buy or long to 100k and all that, but you are not going to get that from this analysis so I don't expect everyone to agree or resonant with this analysis but if you do, please do give it a Thumb up.
I do see from the current market that bulls have had quite a good run and even though No one knows when or how a long term bull market will last or end, Pullbacks and retest are all seen as normal in every market, a pull back on a lower timeframe will not even be noticed on a higher timeframe, but a higher timeframe pullback will look like a deep dive on lower timeframe.
We don't see price running in parabolic move but when they do, they always lead to a retest of the beginning of the move before the trend continues, this made me decide that taking a ride with the bears won't be such a bad idea anyway , so I am going with the bears as Bitcoin is on a crossroad with a strong bull trap.
But Mind you, this is a bull market cycle so we are still in a strong bull trend but.......There is a strong but here for me. What do you think will happen when the monthly chart finally take a pause and pulls back?
take a look at this beautiful chart
April seem like the month this could potential begin, and here is why I think so..I do see a more possibility of breakdown than up, the 60k to 62k resistance is a tough one, and has potentials of falling the bulls hand big time here.
For bulls to make it to 68k, 60k to 62k resistance has to be won over but I don't see that happening soon.
I see a strong Bear strike coming in April(this is not a financial advice please do your diligent research)
This is a monthly and weekly chart analysis. Thanks for reading.
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