BITCOIN - ANOTHER BULL TRAP OR NOT? - CryptoManiac101
Updated
BITCOIN / USD TA
Bitcoin seems to be performing much stronger this week. We have maintained strong trend line with a bear trap which later formed into an upward channel, which is usually prone to breaking up upward. Taking into account our two resistance levels, we can set our visual targets there for those who will be LONG on your positions.
Do keep in mind that we might still have flash dumps from this area. Even though the odds are on the bull's side, stop losses are a must. Also for those looking to get in on high leverage, don't... it's not worth it in this market full of uncertainty.
Bitcoin seems to be performing much stronger this week. We have maintained strong trend line with a bear trap which later formed into an upward channel, which is usually prone to breaking up upward. Taking into account our two resistance levels, we can set our visual targets there for those who will be LONG on your positions.
Do keep in mind that we might still have flash dumps from this area. Even though the odds are on the bull's side, stop losses are a must. Also for those looking to get in on high leverage, don't... it's not worth it in this market full of uncertainty.
Trade active
Trade active
Trade active
Trade active
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.