As you can see, we can eliminate the parabolic moves as Bull traps and the downtrend line is still intact. Also there is an uptrendline from 6k. The next 4-5 days are going to make or break the tone for next 2-3 months.
If bulls can succesfully break and hold 12k mark, they have won.
If the downtrend line continues and we fall below 9.4k, a move to 8.4k is likely.
So what do you think will happen? I think we'll see the second scenario as we are in a bear market. I hope I'm wrong :)
If bulls can succesfully break and hold 12k mark, they have won.
If the downtrend line continues and we fall below 9.4k, a move to 8.4k is likely.
So what do you think will happen? I think we'll see the second scenario as we are in a bear market. I hope I'm wrong :)
Trade fechado: objetivo atingido:
So it's a bull trap. AGAIN. Do not expect breaking 11.6k resistance that easily with regulations coming up, and oh the ticking tether timebomb.
If everything was as easy as spotting an inverse head and shoulders, everyone would have made money. It's not.
If everything was as easy as spotting an inverse head and shoulders, everyone would have made money. It's not.
So another bull trap or a breakout?