CLASSIC BEAR TRAP INCOMING! DON'T GET REEMED!
Updated
DON'T BE A PLEB AND FALL FOR THE FOMO!!!
I see it going all around and ONLY now there are some traders coming out calling for a short.
The whales are trying to liquidate all the retail plebs.
DON'T FALL FOR IT.
DO NOT OPEN ANY LONGS YET.
At least sit out until confirmation bouncing from support around 51k. If it breaks past 56k, which I highly doubt < 25% chance, then sure open up a long.
If you're aggressive, look for confirmation of short and open.
Reason for classic bear trap:
BTC is overextended.
Short term outlook, Probability > 80% once it breaks fib channel ~54k we'll contract to at least 51k. Then we'll have to look at indicators to see if it's going further.
Whales are out there looking to swallow up the minnows. Be smart, take profit and set SL if you're opening up margin positions. If you're taking spots, only trade with money you can hodl.
If I save you some money from getting rekt, leave a like and a follow -- that sh#t is free.
F&K THE WHALES. LIL MAN POWER!
Think otherwise? Leave a comment below.
*** NOT FINANCIAL ADVICE *** DO YOUR OWN RESEARCH
I see it going all around and ONLY now there are some traders coming out calling for a short.
The whales are trying to liquidate all the retail plebs.
DON'T FALL FOR IT.
DO NOT OPEN ANY LONGS YET.
At least sit out until confirmation bouncing from support around 51k. If it breaks past 56k, which I highly doubt < 25% chance, then sure open up a long.
If you're aggressive, look for confirmation of short and open.
Reason for classic bear trap:
- Divergence of RSI, STOCH RSI, MACD negative slope.
- CLASSIC BEAR TRAP
BTC is overextended.
Short term outlook, Probability > 80% once it breaks fib channel ~54k we'll contract to at least 51k. Then we'll have to look at indicators to see if it's going further.
Whales are out there looking to swallow up the minnows. Be smart, take profit and set SL if you're opening up margin positions. If you're taking spots, only trade with money you can hodl.
If I save you some money from getting rekt, leave a like and a follow -- that sh#t is free.
F&K THE WHALES. LIL MAN POWER!
Think otherwise? Leave a comment below.
*** NOT FINANCIAL ADVICE *** DO YOUR OWN RESEARCH
Comment
As predicted, correction has started. Now we wait to see if it will break through fib at 51k level which I think it has a high probability of doing so. If it does I'd be looking at the 48k lower fib line.Comment
Currently is testing the daily support/resistance. Thesis is still holding true. Looking at a slight dip to at least 51k and from there we can decide how it will go. Definitely do not open up a PE long.Comment
Rumors that FB bought BTC. Even more confirmation whales are going to try to trap some bulls with opening a long right now.Comment
Alright boys, just as expected and called by PO. Now's the time to start paying close attention to the bottom. Don't get complacent or too greedy -- we had a perfect entry as I called and I'm still overall bullish on the market. Now we'll have to see how low it will go. I'm still expecting it to shed an additional $1500 to 51k. From there we'll see if it will go further. I don't see it dropping below 48k unless to capture liquidity by the whales. If you're looking to buy in, I'd look for a 1H to close above the downtrend. If you need a chart, leave a comment you cheap fuks
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