BTCUSD - short-term bulltrap
We have a busted head and shoulders. Price is about to test the shoulder which will confirm a short-term bullish reversal of the downtrending resistance (upper yellow line).
I expect the shoulder retest to fail, because by the time we will be around that height, we will have a bearish hidden divergence on the RSI.
the TD1 here is supposed to be a TD9 buy setup - it flipped because
1)people bought into it and
2) we bounced off support
Expect this support to be retested and possible fail soon, sending us to 12k.
I expect the shoulder retest to fail, because by the time we will be around that height, we will have a bearish hidden divergence on the RSI.
the TD1 here is supposed to be a TD9 buy setup - it flipped because
1)people bought into it and
2) we bounced off support
Expect this support to be retested and possible fail soon, sending us to 12k.
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