BTC Bull trap or not?
The way i see it, already 8 candles under the EMA 50 on the weekly is bearish.
Do we just see a retest of it?
Also there we have 2 strong trendlines and we have the FIB 50° (fibonacci is taken from the april high 2021)
When btc is crossing that trendlines like a knife in butter and that trendline will become support again (same like the 50WMA), yes it's hard to admit but then it's time again to become bullish enough from speaking of a new alltime high (that's my opinion)
If you look the logic way it would be very strange in this time with a big inflation, the DXY is bullish, the markets are top out (IMO),interest rates are coming, BUT never say never.
We have to admit this is not a good situation worldwide.
Time will tell
Do we just see a retest of it?
Also there we have 2 strong trendlines and we have the FIB 50° (fibonacci is taken from the april high 2021)
When btc is crossing that trendlines like a knife in butter and that trendline will become support again (same like the 50WMA), yes it's hard to admit but then it's time again to become bullish enough from speaking of a new alltime high (that's my opinion)
If you look the logic way it would be very strange in this time with a big inflation, the DXY is bullish, the markets are top out (IMO),interest rates are coming, BUT never say never.
We have to admit this is not a good situation worldwide.
Time will tell
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