In trading, a bull trap is a situation where a trader (beginner) buys an asset believing its price will continue to rise, only to see it fall sharply soon after. If you inspect the SPX chart by yourself, you'll see:
1- lack of increasing volume
2- absence of momentum
3- lack of definite/sufficient trend break
4- retesting of resistance level (Major downward...
Our loving but always dropping TASI will continue down to 8400-8800 for several reasons.
1- The macro market. (Mainly)
2- It's broken down a major and well-defined trendline since 2008 and shows signs of rejection. Bears are in control at this point in time.
3- All major long term fib lines align at this point.
4- An order block (weekly) that followed the...
Downward trendline from early this year still holds strong. It's been rejected 5 times already. And the latest weekly candlestick is a classic example of an inverted hammer rejecting the trendline. 3200 is the main target due to a couple things. 1- Order block from late 2020. 2- all fib lines align at this point.
Looked like a descending triangle for more than a month. But the pattern has been nulled by the breakout recently to the upside. Good for going long on short, medium, and long term. Support at $2 is really strong and I doubt it will break down before the end of this market cycle. For the conservative traders out there, you can also wait for a retest of the...
To start, there's along upward trend line that forms a huge ascending triangle. Second, the price action of the bars on mid July to early August looks eerily similar to the bars of late August to early September. The only difference is that the latter was a bigger replica. Before the surge, volume was low AF. Rn, while the volume is low, I entered at 3800 sats...
I recently added about 5% of my total cap into OGN. The reason being is due to the huge ascending triangle formation. Once September passes, It will pump AT LEAST 3-4x. Planning to take some profit at 3 bucks.
Bought initially at around 0.480. I added to my position at 0.72 recently after confirming the inverse head and shoulder pattern on the chart. Since things are looking super (pun intended) bullish for the entire crypto space, I might go all in after btc is confirmed to be bullish at around the 48-50k target.
All alts are showing an upward trend breakout except for btc. In Vet's case, there's an ascending triangle, 2 inverted heads and shoulders pattern, and obvious cup and handle patterns.
