AVOIDING THE BULL TRAP
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BTCUSD H1: 20% correction warning distribution(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
🔸 Summary and potential trade setup
::: BTCUSD 1hours chart review
::: updated/revised outlook
::: distribution in range / weak chart
::: cycle low later July/August 2022
::: weakness will last for 4-8 weeks
::: LOG SCALE chart
::: not a great looking chart
::: rejected/booted from 20 000 usd
::: S/R was re-tested produced WEAK bounces
::: final BOUNCE possible 17/18 000 usd
::: also noteworthy sequence of lower highs
::: recommended strat: SHORT from 21 / 22 000 USD
::: final TP BEARS is 17 / 18 000 USD
::: 20%+ correction possible next
::: 4-8 weeks in July 2022
::: right now limited upside in this market
::: position traders should wait for
::: better entry prices later after
::: BULLS higher risk BUY near 17/18 000 USD
::: not a great setup for BULLS though
::: recommended strategy: SHORT SELL RIPS/ RALLIES
::: TP BEARS is +20% gains - near 17 000 USD
::: BULLS stay out until correction is over
::: SWING TRADE: SHORT/HOLD IT
::: correction run not over yet
::: good luck traders!
::: BUY and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/CORRECTION
::: Sentiment short-term: RANGE/MIXED
RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.
