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Bulltrap

ETH USD_Bull Trap IncomingHello everyone, going to keep this idea short and simple. 1) Ascending wedge right near what appears to be a top resistance channel. (The Red Trend Line) 2) RSI way overbought. Bearish divergence appeared on the momentum indicator. 3) No good support up here that was tested twice with lots of volatility over the past several days. 4) Be careful, BTC is about to face a tough resistance. For anyone that wants to go long at the current point, I suggest that you don't until we break out of this wedge and away from that Red trend line. For any day traders out there, beware any sudden drops, keep your stop losses tight, and your take profits tighter! With that said, I'm going to go with what I believe the scenario is, A TRAP! The price might not reach all the way to the green buy area, but I believe we established support in this region prior and it is closer to the predicted upward green bull trend. And the final disclaimer, anything that I state is NOT financial advice, and in other words, in any trade you take, you assume all the risk and at the same time all the reward. Before buying any market positions, make sure you do your own research first and not to risk more than you can afford to lose. -May BTC reach Mars before Elon Musk
BITFINEX:ETHUSD
by gendark2
4
I smell a BULL TRAP.I felt uncomfortable when the candles move up and down in square wave in matter of minutes on H1 chart as if nobody is trading it. This movement shouldn't appear in a bullish market. Also, the volume for each daily candles are too low compare to panic selling during 2018-03-06 - 2018-03-17 and 2018-03-25 - 2018-04-01. The volume for each candle should be around 60K to 100K, but there's only 20K - 40K. The rally is up too much, too fast, too easy. I compare a slope for this rally among other uptrends. The closest one that I can find was during 2017-08-03 to 2017-08-19. They have higher volume than the false rally. I smell a BULL TRAP. A big one. I think it will land around 7500 back to the old long term support. With the red line resistance become support, we will have 2 fold up trend, and the real battle will begin. For those who buy the dips before 12th April (the big bounce). You are still safe (almost). Just don't panic sell it and cause price to go lower :wink :wink. For now, leave it alone don't do anything irrational. Always trade with the trend, not counter it. If you're still on the rally. Put your stop loss ready. You can ride it for a while, but be cautious.
BITFINEX:BTCUSD
by makemek
3
[BTC-USD] BULL TRAP! NOT SUSTAINABLE! BTC MUST CORRECT!We are at the very top of a growth cycle which is "NOT " Organic and being manipulated by HFT and Large Whales! This is not sustainable by the regular investors or traders. Investors/traders beware of the bull trap which I see! I will wait for the price correction and would rather be safe than sorry! PS. Their is too much TA garbage out there speculating in price action hitting 10k. That is ridiculous! We do not have enough volume to take prices up as everyone thinks. I do modeling on excel with a bunch of math as well, and these price increases in just 2-3 days simply don't make sense! Its all hogwash! NOT ORGANIC.....I believe we are treading in dangerous waters. Not entirely convinced of this bullish reversal! PS. This is not financial advice, follow your own TA and devise your own entry-exit plans!
COINBASE:BTCUSD
by CryptoBuzzAnalyst
2
Get Ready for $280 ETHHello everyone, In my analysis, I'm predicting that the ETH price will have a further downside, in fact I believe the market as a whole has more downside too. My analysis is as follows: 1) There is a large bearflag that has formed, and in being generous, I only set the bottom to 280 for now. 2) If you look closely, there are 2 previous large bearflags that have formed above this one. 3) The bearish divergence on the RSI 4)I'm not going to draw it, but everyone that follows the market and other technical analysis, understands there is a downtrend channel that is not being broken. 5) It's not shown here, but the volume also helps confirm a current downtrend. 6) On the opposite side of the overall ETH structure, you can see how it stayed in this area for a while before breaking out above. Not sure what this structure was. (Cup and handle?) 7) There is a predicted massive resistance waiting at 450 ETH. And this is where it call comes together... This rally up is going to be a bull trap. When the failure occurs and the break below the bearflag happens, ETH will find a new home. Welcome to 280-360 range ETH trading again, YAY! Based on my prediction, I will not buy a long position in the market until we reach that area with low volatility. Then I will be a long term holder of ETH again. If however, ETH breaks clearly above 450 and holds above for at least 1 day. I will definitely change my mind.To everyone else trading out there, good luck! Just want to finish out that this is not financial advice and any trades and positions you decide to buy are purely your own responsibility. In other words, you assume 100% risk and at the same time 100% reward or loss. This technical analysis was made purely for my entertainment. May BTC reach mars before Elon Musk,
by gendark2
Bulltrap? Are whales playing heavy with us? Don't let it happen!Hey, my lovelly and loved fellas! I have one song for you... "Though we all may part I wish you all well Wherever life takes you whales I hope you eat lots of squid And make lots of whale kids You made me smile Just for a while" To find it, and listen the full music, search "Whale Song - Steam Powered Giraffe"... After listening, how about some thinking what you want or do not want to do? How about to eat lots of squid and make lots of whale kids? We have got a record in short liquidation, over than 150 million dollars at BitMex... What about? For sure this movent can bring new waves to the market! They closed the 5th wave to the force! May the force be with you!!! But... Fellas, fellas, fellas! Do you still in the same pill as me? I am! In my oppinion, we are in the same scene of the last idea, but with some possible effects after this crazy whale movement! Now, we are definitely in the blue area. I remade the fibbo, based on the last low bottom and the last double top. If we brakeout the 8200USD, we can really get a bull run (until and if whales permit, for sure). If not, we can retract to 7300-7400USD, confirming the 2nd wave. Depending on signals, we keep going up in a 3rd wave looking for 8800USD ( i really don't believe, to be honest, but, it's Bitcoin!). Or, we can go down in search of the panic bottom (for me, the better to get volume and definetly go to the moon again). Let's keep watching, fellas! And never forget: Don't do the whales game! You can control the market just understanding it, and make some money... Do not be a Captain Nolan. When you aim at a white shark, be sure you will not hit a pregnant Orca! Hope u enjoy this idea... if appreciate, don't forget to click in the like! Love you all, and please, always sing the song! "The stock market is a wonderfully efficient mechanism for transferring wealth from the impatient to the patient" - BUFFETT, Warren
COINBASE:BTCUSD
by lem4sk
BTCUSD - Bitcoin TA - April 9, 2018Upward trend lines are the green dotted lines. Downward trends lines are red dotted lines. The intersection of the more recent upward trend line from 09-14-2017 to 02-05-2018 looks to occur somewhere around April 19-20th. The shorter term upwards trend dating from 02-05-2018 (see RSI same LOW as 09-14-2017) to 03-31-2018 shows an intersection somewhere around May 18th, which seems to correspond somewhat to the wedge we see on the MACD histogram. If this trend line is broken and continues downwards, we will have a COMPLETELY different situation. Just to re-iterate, the yearly low on RSI at 26 was last seen in September 2017 at the beginning of the biggest bull run in bitcoin's history. We saw this again on 02-05-2018 when BTC -4.89% hit around the 6K mark. I see a bull momentum upwards towards 9100 on the short term, before moving back down to the 7800 levels and continuing the momentum back up to the 10250 level, which will be a FUCKING BULL TRAP!! WATCH OUT FOR THIS JUST ABOVE 10K IF THIS SCENARIO PLAYS OUT!!!! IT WILL BE JUST AFTER A HUGE BULL RUN, AND MARKET SENTIMENT HAS TURNED BULLISH AGAIN. IT'S A TRAP!! If you do happen to get to that point at that time with good returns, I think 9975 would be a good exit point, as there will be a lot of liquidity at the sub 10K levels. This bull trap will end with a huge correction maybe all the way back to 6K, but I don't see it dipping much below our Feb 5th low. After that shakeout of all the weak hands and perhaps some sideways trading, moon time.... and I'll buy my GTR.. fuck fancy lambos!! Just kidding... this is probably all wrong, and you'd be totally damn stupid to listen to my advice. So, don't use my advice and do your own research!! Updates to follow, as this is a long term call. -Boogie.
COINBASE:BTCUSDLong
by theboogieman
1
BTC Bull trap, rejected at the 200 day on the 4hrBe wary, this almost 1k jump on the hour is just going to prolong Bitcoin's downtrend. Which is good actually... instead of us hitting sub 5k next week, looking more like sometime in May now. Which could signal stronger bounce back into the upside around 5k. Instead of a weaker bounce and possible continuation down to a 4k / 3k test. Not ready to get back into Bitcoin yet, but get your fiat ready folks for some May flowers! This is all my opinion, I'm not a financial advisor.
BITFINEX:BTCUSDShort
by leongaban
1
DON'T BE FOOLED AGAIN....To be straight forward honest with you, I did not expect BTC to reach 7k before the major leg down. But there are two important things I'd like to talk about. 1. Notice how on the log scale we didn't even break through March's downtrend. Remembers me of the time when BTC broke through December's resistance on the auto scale, everybody was bullish and nothing happened. BTC actually went down again. Why? Because this major resistance hasn't been broken on the log scale. Same thing might happen here. 2. We got yet another rising wedge forming. BTC formed a similar rising wedge at the beginning of April - remember how bullish everybody was? The afore mentioned rising wedge was underlined by a (hidden) bearish divergence. Well...guess what. BTC is forming yet another rising wedge, with a hidden bearish divergence on the 1H Chart AND apparently on the daily chart. If the wedge is confirmed by a high volume breakdown, expect 5.800$ to happen and consider shorting. In case BTC manages to break through 7.250$, we might see 7.500$. Wish you a nice sunday.
BITFINEX:BTCUSD
by ShaheenFahmy
24
BTC Purgatory ... heaven or hell?Well, interesting and confusing movements from BTC. Is this a grand setup for a bull trap, which will set off the final decent to sub 6k levels, or has grand wave 5 ended, and the confusion as sign that BTC has reached bottom, and a market reversal is fueling up? Scenario B assumes we are now forming wave 4, and the bull trap is being set. It was clear that hovering around the 6.5k mark would not provide the steam necessary to go down to the 4k, 5k or 6k levels most were hoping for. Imagine all the margin short positions that got taken out in this last move up ... a good way for wall street to make money. And after this rise, will they achieve the momentum they'll need on a short to take BTC to a bottom that is 6k or lower?? Food for thought. OR!!!! Scenario C assumes we are done and the bears have given up. This would mean we've completed wave 4 AND wave 5 with a double bottom test at 6.5k BTC. This would move would also mean we are experiencing a market reversal, which would explain all the confusing signals. Have we crossed over into a bull heaven, or are the bears gripping BTC's ankle, pulling it back into the fiery flames of hell. Remember, only a fool relies on one potential outcome. Do not rely on this information for investment decisions. For educational purposes only.
BITFINEX:BTCUSD
by MAGICMARK
1
A big bearish Gartley forming? Just had this idea of big bearish Gartley forming. 4h Rsi bouncing off of short term trend line towards upper downtrend rsi line. 4h Macd heading towards trend line to touch the Macd-spike downtrend line on log chart (8100-8300). This would make a very big bearish Gartley pattern, which would lead to a big drop under 6k (I´m thinking it could possibly go as low as 3850) There could be a nice opportunity to take a long position from under 6900, and eventually close it above 8k to start to build a big short position. But what do I know?
BITFINEX:BTCUSD
by OkyPaavo