In TF4H BTC has not succeeded in extricating itself from the compression triangle in which it has been evolving for several days, which validates the hypothesis of a bearish pennant.
The accumulation of bearish signals and fractal analysis reinforce my idea of a weak retracement before another large decline.
This publication is a trend hypothesis.
The accumulation of bearish signals and fractal analysis reinforce my idea of a weak retracement before another large decline.
This publication is a trend hypothesis.
Note
I am neither bull nor bear, I just follow the market.Note
in TF2H a pullback is in progress, the drop is coming back soon ...Note
Be careful, bulltrap in progress.Note
This bulltrap is boosted by the FOMO of the moonboys, the denial of reality of inexperienced traders, but also the false good news that is looping on social networks.Trade active
s3.tradingview.com/snapshots/q/Qn6jsCUk.pngNote
Amazing bulltrap, be care.Trade active
Trade active
BTC will strongly relapse this week.Current bearish factors :
- a large bearish flag
- a strong MACD divergence
- a huge RSI divergence
- a steady increase in institutional short positions (COT report)
- a significant drop in volumes in recent months
- a weekly bearish MACD cross
- a death cross in progress
- the great powers want to regulate the market
Note
In TF2h I see that the current technical rebound corresponds well to the expected result for a small bullish divergence in a downward configuration. IMO it's a real bulltrap.Trade closed manually
![[Bitcoin] BTC will relapse](https://s3.tradingview.com/2/2XStPn5h_mid.png)
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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.