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Bulltrap

Bitcoin's two options: Rapid recovery or roll overThe chart is on the daily time frame but I have programed in the CM ultimate to have the 20 SMA on it, which is close enough to the 20 week EMA as to not matter. Both are very conventional timeframes to use but I prefer the 20 SMA because it is the baseline of the bollinger band (not show). Please see the linked ideas if you want to see more indicators. Key Points purple areas of investigation Trend line support and 20 week SMA coincide with the purple area bounce Consolidation lasted for about 2-3 weeks. On Balance Volume was below its 100 EMA Orange Areas Occurs after purple the trendline and 20w SMA act as area of resistance On Balance Volume still under 100 EMA Must needs before I become a buyer again OBV gets above the 100 EMA Price action recovers rapidly get some white space between it and the 20 week SMA Price action very quickly gets above the red resistance line. Out of everything in the post, if you want to simply everything to one key point, the price action needs to get above the red trendline. It is pretty simple. Other Implications The crypto market could be lulled into complacency of the next week or so as alts continue to make new highs as BTC chops sideways. I personally have a long on Tezos under the assumption that this could be a few weeks of sideway. If I am wrong I take a get stopped out on a calculated loss and I resume shorting almost everything crypto. If BTC recovers very quickly then alts might have a slowdown as BTC draws money away, especially form those that trade crypto/btc pairings. Very suppositional at this point
BITSTAMP:BTCUSDShort
by This_Guhy
3
XRP Potential Bull Trap In Progress..Hey everyone, So I was busy eating dinner and missed the last hour bar close above the resistance of my Triangle... None the less, Though it has broken up out of the triangle, The EMA's have not crossed just yet. Also, BTC has not yet reclaimed 50k. Now we watch closely to see if BTC closes an hourly candle above 50k or gets rejected again, and if our EMA's on XRP 1hr complete a cross-over. IMPORTANT NOTE: I have updated my EMA's to Fibonacci numbers shown Below: Green EMA: 8 Red EMA: 21 I have found these to be more accurate. Also please take note that I utilize Heikin Ashi Candle Sticks in my charts.
BITSTAMP:XRPUSD
by UnknownUnicorn8519602
BTC - D1 - BULL TRAP ?D1 : Looking at the Thursday, Friday and Saturday candles we can see the following : 1) Thursday's candle shows a test of the bottom of the clouds @ 52'379 2) Friday's candle shows a sharp and strong reversal pattern (long white candle) with its closing above the clouds 3) After having filled the 61.8% Fib ret @ 58'060 (intraday high @ 58'549) a "DOJI" pattern took place on a closing basis Today's ongoing pattern is showing a "potential" reversal price action; the MID BOLLINGER BAND has already been tested and should, as already mentioned several times, be considered as one of the best LEADING INDICATOR, Therefore, a daily closing below 56'286 would would give an additional support for this ongoing trend reversal. Below : S1 : 55'949 S2 : 53'838 On the upside, in order to neutralise this ongoing downside risk, BTC needs to close today , first of all : 1) above the Mid Bollinger Band and secondly : 2) above the clouds Watch shorter time frames to get clues. Have a nice Sunday All the best and take care Ironman8848
BITSTAMP:BTCUSD
by Ironman8848
BTC forming an Inverse Head & Shoulders pattern?Not investment advice. Not a professional. IDEA: BTC completed a Bullish Cypher Harmonic , so likely up a bit for now at the very least. Previous post proposed possible Expanding Symmetrical Triangle forming. I'm in the camp that would be bet this Bull Run isn't over yet but a larger correction will happen at some point in the near future before we make any more meaningful moves up. I'll never say never, but a dip to $40k or below rn just seems a little out of reach given the current market sentiment IMO. If I had to bet, I'm thinking we're currently forming the HEAD of an INVERSE HEAD & SHOULDERS PATTERN . Just like the stock market, I don't think BTC is quite done consolidating yet. I think we'll see one more Bull Trap to a slightly higher high around $68k > a modest pullback > then off to the races again. Or I'm completely wrong, who knows. Cheers.
COINBASE:BTCUSDLong
by n_1a1a_01
BTCUSD - D1 - LAST CLOSING ABOVE MBB...D1 : Yesterday's long bullish white candle triggered a closing level above the Mid Bollinger Band which should be seen as a first positive signal for an upside continuation price action. Nevertheless, I would suggest to remain extremely cautious following this "shy" upside breakout of both, MBB and channel downtrend line resistance. Indeed, before switching from BEARISH to BULLISH, we clearly need to have a strong confirmation of this breakout in order to avoid a BULL TRAP !!! Therefore, ongoing price action over the coming hours and more important today's closing level would either validate or invalidate the yesterday's breakout. See H4 below for additional information on shorter time frame H4 : As shown the upside breakout of both clouds and downtrend channel still looks fragile... Indeed, successive small candles are showing some indecision and uncertainty about further development either on the upside or on the downside. BTC is currently traded in the upside pivot zone trading range (50000-52650) and a clear breakout of the former high @ 52650 woul add further support for a continuation upside move. On the other side, former top resistance line of the downtrend channel ahead of Tenkan-Sen (Conversion line) @ 50053, should be seen as the first short term support level, ahead of the former "cluster" of both Mid Bollinger Band and Kijun-Sen (Base line) which is the first significant support area being slightly above the 49000 area and last but not least the top of the clouds support zone (49000-47800) ! Watch shorter time frames H1 and M15 to get intermediate validation or invalidation signal (s) Have a nice trading week. All the best and take care
BITSTAMP:BTCUSD
by Ironman8848
1
Are we back to the bull market? Is this a bull trap?Yesterday was a great day trading with opportunities to long and short. More importantly, it has been over 24hrs that the price is above the mid-way point without any significant dips. That indicates that the price is stabilizing and demonstrates clear bull flags. At the time of writing the price was quite stable around the previous resistance point of ETH $1550 that seems to have formed a new support line. What does that mean? Unless this is a bull trap, a situation where exchanges would be targeting to hype their users to overexpose longs and liquidate them - price should continue to rise steadily. This is definitely not the time to use high leverage. Do not fall into a bull trap 😉 The price is quite stable, however, this does open new opportunities for price spikes (both up and down). If the price will continue to rise, at some point there will inevitably be a price spike up with almost immediate retrace. Volumes are slowly declining (either consolidation or another sign of a bull trap). 🎯 Today's technicals: Forecasted highs at ETH $1640 and $1690 Mid-way point moving down to $1470 (This can also indicate a bull trap) Forecasted lows at $1500 and $1470. If the price breaks below this point easily, it will is likely to trigger another sell-off. Have fun trading! 🤑 If you would like to have early access to my ETH technical analysis write "We are back to the bull market!" or "It is a bull trap!" in the comments down below!
Long
by DataMoney
4
WARNING BTC bulltrap What Is a Bull Trap? A bull trap is a false signal, referring to a declining trend in a stock, index, or other security that reverses after a convincing rally and breaks a prior support level. The move "traps" traders or investors that acted on the buy signal and generates losses on resulting long positions. A bull trap may also refer to a whipsaw pattern. The opposite of a bull trap is a bear trap, which occurs when sellers fail to press a decline below a breakdown level.
BITSTAMP:BTCUSDLong
by blabdali
Bear trap?! Can it bounce here?! Stay Tuned!!Chart says all. IF price follows Jan pullback form, we gonna get a strong bounce to new ATH from here. Else; The End... NB: An EW impulsive wave completed in MFI outflow on 2/25; RSI could bounce from its TL here, might be a Bear Trap. IF price is in Bear Impulsive Trend, ship is goin down bowfirst. We had both Bear and Bull traps twice this week already! Trade with care! Do not leave positions unattended!! NOT advice, trade at ur own risk, GLTA!!!
CME_MINI:ES1!
by DaddySawbucks
4
BTCUSDT - bull trapYesterday there was a false breakout! super beautiful example! I will tell you below what a false breakout is! False Breakout Patterns False-breakouts are exactly what they sound like: a breakout that failed to continue beyond a level, resulting in a ‘false’ breakout of that level. False breakout patterns are one of the most important price action trading patterns to learn, because a false-break is often a very strong clue that price might be changing direction or that a trend might be resuming soon. A false-break of a level can be thought of as a ‘deception’ by the market, because it looks like price will breakout but then it quickly reverses, deceiving all those who took the ‘bait’ of the breakout. It’s often the case that amateurs will enter what looks like an ‘obvious’ breakout and then the professional’s will push the market back the other way As a price action trader, you want to learn how to use false breakouts to your advantage, rather than falling victim to them. Here are two clear examples of false breakouts above and below key levels. Note that false breakouts can take different forms. Sometimes a false break will occur with a pin bar pattern or a fakey pattern as the false break, and sometime not A false breakout is essentially a ‘contrarian’ move in the market that ‘flushes’ out those traders who may have entered on emotion, rather than logic and forward thinking. Generally speaking, a false-break is happens because amateur traders or those with ‘weak hands’ in the market will tend to enter the market only when it ‘feels safe’ to do so. This means, they tend to enter when a market is already quite extended in one direction (and it’s about ready to retrace) or they try to ‘predict’ a breakout from a key support or resistance level too early. Professional traders watch for these missteps by the amateurs, and the end result is a very good entry for them with a tight stop loss and huge risk reward potential. It takes discipline and a bit of ‘gut feel’ to know when a false-break is likely to occur, and you can never really know ‘for sure’ until after one has formed. The important thing, is to know what they look like and how to trade them, which we will discuss next…
by Yuriy_Bishko
30