Alright, here's a little summary of what to look out for with $BTC. This is an analysis purely on trends, no indicators are used.
A: We broke below the long time bullish trendline, when we went down to about 6k. This was a major bearish sign but
BTC, as it does, doesn't care for traditional signs and bounced back.
B: We had a bulltrap fool us in January, which keeps lingering in the heads of bulls, so we have to have a close look on if this might be another trap. We'll have to break above the box to surpass the possibility of a repetition of the same trap.
AB: There's a possible fractal playing out, which would be showing a possible reversal of the bearish trend. Last timeBTC bounced from a plummet with volume like this, we were in for a major trend reversal and bull run.
Let's see which one plays out, happy and safe trading!
A: We broke below the long time bullish trendline, when we went down to about 6k. This was a major bearish sign but
BTC, as it does, doesn't care for traditional signs and bounced back. B: We had a bulltrap fool us in January, which keeps lingering in the heads of bulls, so we have to have a close look on if this might be another trap. We'll have to break above the box to surpass the possibility of a repetition of the same trap.
AB: There's a possible fractal playing out, which would be showing a possible reversal of the bearish trend. Last time
BTC bounced from a plummet with volume like this, we were in for a major trend reversal and bull run. Let's see which one plays out, happy and safe trading!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.