BitcoinShort
BTC/USD - STRONG BULLTRAP FRACTAL SIGNAL | WEAK VOLUME / FAKEOUT
Bitcoin Is Showing Many Similarities Compared To Behaviour In Late 2018:
Bitcoin Here In Mid-2020 Is Showing Very Similar Behaviour:
If this fractal were too playout, a deep crash is expected very soon, confirming the play-out of a bull-trap.
Price has yet to make a higher-high, ~$10,500, and this may be another weak, unsuccessful attempt at doing so.
[I]Late 2018:[/I]
Mid 2020:[/I]
VERDICT: Based on the vast array of similarities of the current price behaviour compared to late 2018's behaviour, I believe the recent price pump is a bull-trap and I expect a deep crash very soon.
- Price consolidation for over 70 Days
- RSI consolidation for over 70 Days
- Weak/Low volume pump up for a few days
- Followed by a deep crash by over 50%
Bitcoin Here In Mid-2020 Is Showing Very Similar Behaviour:
- Price consolidation for over 70 Days
- RSI consolidation for over 70 Days
- Weak/Low volume pump up for a few days
If this fractal were too playout, a deep crash is expected very soon, confirming the play-out of a bull-trap.
Price has yet to make a higher-high, ~$10,500, and this may be another weak, unsuccessful attempt at doing so.
[I]Late 2018:[/I]
Mid 2020:[/I]
VERDICT: Based on the vast array of similarities of the current price behaviour compared to late 2018's behaviour, I believe the recent price pump is a bull-trap and I expect a deep crash very soon.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.