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Bulltrap

Long term correction after halving?It seems that the price hit the optimal level to begin sell off. The buying back phase will start at 460 level, to form accumulation range between 480 and 510. In my opinion we will have lot of selling just before BTC halving and than, after it the price will bounce to the 680 area again. As usually, we will see the triangle forming. However I don't think that we will have next bull run. The price might even break resistance line for short time, to trap breakout buyers. The supply - demand ratio need to stabilize and this time, the bears will push price lower. That's why more probable scenario for me is breaking current trend line and support testing at 450 level.
BShort
by fosis
EURNZD at the top of channel for trend resumption a D1 ed channel has a smaller h1 channel colliding with it at the top. IF price does really goes down, it will have completed a 2 weeks high flush bull trap, and perhaps price will resume the strong trend seen in may. All is too prematured now and I really want to see the reaction within this blue oval. I got a small scout position in so still monitoring it. h1 channel has a macd divergence of sorts, so looking forward to use this channel to play this big beast off.
Short
by nakedchartist
1
EURGBP h1 short after bull trapfinally a h1 setup has taken shape after price decided to test the big channel top. on lower time frame , a multi day bull trap has been formed and there is a channel within channel confluence already completed , with macd divergence to support. Since I already have prior entries few days back, I will continue to hold and add on shorts within the orange zone. On day chart price is trending, so aiming for 7800 level is realistic. however, do take partial tp along the way to lock in profits.
Short
by nakedchartist
2
EURZND cash rate shortshown in the chart will be 2 boxes , blue and red. Blue denotes a strong bullish expansion week, and thereafter price consolidated for 5 weeks. The chart pattern looks to be distributive in nature, and it is confirmed with a bearish expansion week. Right now price is back at the neckline. I will like to see this as a retest of this distributive strucuture and look to short somewhere close to the retest. There is a f5 and line chart confluence but h1 setup not shown yet. I hv placed a hard stop of above this whole structure, but cash rate on thursday will decide the next impulsive move.
Short
by nakedchartist
3
Why I am still shortSupport became resistance. If this keeps going, we will face the <600s in a few days. But keep in mind that 600 will be a natural resistance line. Like the 550 and 500. I am pretty sure that we will meet at 450 again. Proof me wrong because I am still owning Bitcoins. Bought them, when one was worth around 50-90 EUR. I try to get in a short entry position while the price is near the resistance (former support) and take some profits here and there - normally when the price is near the support line.
BShort
by Kaspar
3