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$BTC The ultimate trap cometh
I feel it is highly likely 25.4k gets breached. Either that or we crash from here, I really don't think moon is a scenario right now.
It is a great opportunity for the market makers as:
1) an invalidation for shorts (they may exit)
2) a trap for 'breakout traders'
3) a bull trap for longs to get horny in general
4) large volume selling can be hidden amongst contract distribution
5) it is a fundamental & psychological level
The triangle formation that everyone is so bullish about has a target of $27300-$27400.
We could reach that level and then crash to new lows immediately and violently after.
I do believe that 27400 is an overstretch based on the ending negative divergence going on but we shall see.
It is a great opportunity for the market makers as:
1) an invalidation for shorts (they may exit)
2) a trap for 'breakout traders'
3) a bull trap for longs to get horny in general
4) large volume selling can be hidden amongst contract distribution
5) it is a fundamental & psychological level
The triangle formation that everyone is so bullish about has a target of $27300-$27400.
We could reach that level and then crash to new lows immediately and violently after.
I do believe that 27400 is an overstretch based on the ending negative divergence going on but we shall see.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.