BITCOIN - BEAR TRAP!
Hello friends!
I come to bring another modest reading about BTC!
Note that BTC has made the search for the fibonacci retracement zone that we have pointed out in previous studies.
And see that exactly at the 0.618 fibonacci support, the buyers engulfed the sellers.
This candlestick pattern known as engulfing, is when the current candlestick completely engulfs the previous candlestick. When this occurs in important support zones like the one we are in, it is called a trap. In this case it was a bear trap.
The projection of this trap takes us back to the above retracement zone that was already tested once, at 18200.
Have you noticed this trap on the daily chart?
Comment below and leave your opinion! Give it a boost to support my work!
To the next!
I come to bring another modest reading about BTC!
Note that BTC has made the search for the fibonacci retracement zone that we have pointed out in previous studies.
And see that exactly at the 0.618 fibonacci support, the buyers engulfed the sellers.
This candlestick pattern known as engulfing, is when the current candlestick completely engulfs the previous candlestick. When this occurs in important support zones like the one we are in, it is called a trap. In this case it was a bear trap.
The projection of this trap takes us back to the above retracement zone that was already tested once, at 18200.
Have you noticed this trap on the daily chart?
Comment below and leave your opinion! Give it a boost to support my work!
To the next!
🚀TELEGRAM🚀
🇧🇷 t.me/powerinc
🔥CANAL INDICADOR ON FIRE
t.me/INDICADOR_ONFIRE
Abra sua conta na BINGX e ganhe prêmios exclusivos!
👉 bingx.com/partner/powerinc
🇧🇷 t.me/powerinc
🔥CANAL INDICADOR ON FIRE
t.me/INDICADOR_ONFIRE
Abra sua conta na BINGX e ganhe prêmios exclusivos!
👉 bingx.com/partner/powerinc
Related publications
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.