BTC Purgatory ... heaven or hell?
Well, interesting and confusing movements from BTC. Is this a grand setup for a bull trap, which will set off the final decent to sub 6k levels, or has grand wave 5 ended, and the confusion as sign that BTC has reached bottom, and a market reversal is fueling up?
Scenario B assumes we are now forming wave 4, and the bull trap is being set. It was clear that hovering around the 6.5k mark would not provide the steam necessary to go down to the 4k, 5k or 6k levels most were hoping for. Imagine all the margin short positions that got taken out in this last move up ... a good way for wall street to make money. And after this rise, will they achieve the momentum they'll need on a short to take BTC to a bottom that is 6k or lower?? Food for thought.
OR!!!!
Scenario C assumes we are done and the bears have given up. This would mean we've completed wave 4 AND wave 5 with a double bottom test at 6.5k BTC. This would move would also mean we are experiencing a market reversal, which would explain all the confusing signals.
Have we crossed over into a bull heaven, or are the bears gripping BTC's ankle, pulling it back into the fiery flames of hell.
Remember, only a fool relies on one potential outcome.
Do not rely on this information for investment decisions. For educational purposes only.
Scenario B assumes we are now forming wave 4, and the bull trap is being set. It was clear that hovering around the 6.5k mark would not provide the steam necessary to go down to the 4k, 5k or 6k levels most were hoping for. Imagine all the margin short positions that got taken out in this last move up ... a good way for wall street to make money. And after this rise, will they achieve the momentum they'll need on a short to take BTC to a bottom that is 6k or lower?? Food for thought.
OR!!!!
Scenario C assumes we are done and the bears have given up. This would mean we've completed wave 4 AND wave 5 with a double bottom test at 6.5k BTC. This would move would also mean we are experiencing a market reversal, which would explain all the confusing signals.
Have we crossed over into a bull heaven, or are the bears gripping BTC's ankle, pulling it back into the fiery flames of hell.
Remember, only a fool relies on one potential outcome.
Do not rely on this information for investment decisions. For educational purposes only.
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