Long
Bitcoin bear trap
I believe that BTC is in a bear trap at the moment and the only reason it is in this position is from the from the fall of the US stock market. The first day the market fell, BTC fell with it. However, now BTC is stable and the market is continuing to fall. I kept my TA simple, as it always should be, with my analysis. It is clear BTC broke the through the triangle pattern and the bulls and bears are fighting to go in their favored direction. The RSI is oversold but not too oversold so I believe we will break through the thick purple line but have a quick bounce back up and shoot our way up to all time highs in the future.
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.