Closer Look At The Bull Trap In The Making

2021년 7월 23일

Let's look at the overbought area and the bull trap in the making. With "the talk" is now over, price started struggling to cross above the old weekly lows and got rejected twice as a sign of weakness. Coincidentally few days before "the talk", JP Morgan unleashed their customers from buying GBTC crypto funds. Is this the demand we were waiting for? In other words, are these the people being trapped right now?

Probably yes.

I'm expecting a short term weak uptrend followed by a down move below 30k.

Best!

2021년 7월 23일

노트

January close at 33138.71 looks like an important level for a 1 to 4 candle correction perspective on the monthly chart. If we close this month above this level, we can have a green bar in August which i believe would be a short term reaction. I expect this bull trap to be over before the monthly close and close below this level.

2021년 7월 24일

노트

Weekly perspective for the pump

2021년 7월 26일

노트

Too good to be true

2021년 7월 30일

노트

Point of No Return