BTCUSDT respecting a particular trendline on 4hr TF, There we can see 2 times a clear bear traps occurred and currently previous scenario might repeat. However, there is also visible H&S which is mostly a bearish sign, Let's see next candle closing for more confirm movement.
it still is a bear trap. Even if u had included the previous bear trap candle. The same bearish signal is seen.
TraderLeVeR
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That trendline is wrong
BTC IS BEARISH !
javed_tview
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@TraderLeVeR, I respect your perspective.... But TBH trendline is well placed IMO.
TraderLeVeR
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@javed_tview, You can just place the trendline little above and call the PA below trendline as BEAR TRAP xd
TraderLeVeR
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@TraderLeVeR, ONE MORE THING TO ADD...THOSE RETRACEMENTS ARE JUST 38.2 % of original wave
HOW ARE U EVEN CALLING THAT A BEAR TRAP xd
I mean below 61.8 level of wave i can agree with u
literally anybody can see such bullish momentum no body would short there