FBlocktrader
Short

After Bull trap: Short term downtrend continues

BITFINEX:BTCUSD   Bitcoin / Dollar
The perfect bull trap occurred in BTC:
After several hours of sideways movement in a tight range of 150 points, BTC             broke the short term downtrend channel , and pushed higher.
This was followed by a pullback and another move up which just made a new high 11.970.
At this point many traders might go long, since we had several "confirmations" of a new imminent upmove.
But when it turns down right away and breaks strong support at 11700 the bull trap had forced many longs out of their positions, if they had stops below that support.

How to trade the trap then?
If you see the trap beginning, that would be the bearish candle from 11.970 below 11.900, you could go short below 11.900.

What is happening now? New Short entry ahead?
Bitcoin             has made nearly two legs down inside the short term downtrend channel . If prices move up to 11.550, right back to the upper trendline , we might get another push down to 11.100.
Kommentar: Prices just hit my target at 11.100, quicker than expected. BTC made a little double top at 11.470 and then pushed lower to 11.080. At this area there could have been some breakeven stops from the longs who got in at this price (see my posting yesterday "Upmove inside...". Markets tend to get these stops ;)
Prices bounced quickly 200 points from there, but the downtrend is still in play.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Startseite Aktien-Screener Devisen Signal-Finder Kryptowährung Signal-Finder Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden