BTC Bear Trap
Broke out of different price patterns:
1. Descending channel (white lines).
2. Falling wedge (orange lines).
3. Inverse head and shoulders.
Strong signs of bullish reversal:
1. Above the 0.236 fib level.
2. 13 (yellow line) and 21 (green line) ema crossover.
3. Green heikin-ashi candles.
4. Hull ehma green trend.
Keys to lookout for:
1. Stop loss on the local swing low.
2. Volume expansion.
3. Volatility.
4. Reentry on retest or pullbacks (can also be weakening volume).
Potential take profits:
1. Fib levels.
2. Below or on the 180 ema (purple line).
3. Estimated price range from the inverse head and shoulders.
1. Descending channel (white lines).
2. Falling wedge (orange lines).
3. Inverse head and shoulders.
Strong signs of bullish reversal:
1. Above the 0.236 fib level.
2. 13 (yellow line) and 21 (green line) ema crossover.
3. Green heikin-ashi candles.
4. Hull ehma green trend.
Keys to lookout for:
1. Stop loss on the local swing low.
2. Volume expansion.
3. Volatility.
4. Reentry on retest or pullbacks (can also be weakening volume).
Potential take profits:
1. Fib levels.
2. Below or on the 180 ema (purple line).
3. Estimated price range from the inverse head and shoulders.
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