From now on, I would like to begin to reflect my ideas in a structured way. I would like to apologize to those who found my ideas too chaotic. Also, I will not guarantee anything. Anyone who wants to follow my trades can do it and whoever does not want to do it can go.
Now we come to the idea. Here you can see how fast a trend can change. Many think that just because they see a bullish formation like the inverse H&S, Bitcoin is rising. But in truth we have not received any confirmation yet. If it were that easy, everyone here would become millionaire instantly. In my opinion, the bulls do not have the strength to gain the upper hand. For me a bull trap.
Here's an example:
In addition, you can currently see a bearish breakout in the 1h and 4h charts. In a bearish breakout you can see in the examples below, he starts a downtrend. Of course I believe that the current structure has not yet been formed. According to my estimations, we will form a triangle. It's just my opinion, I would not count on it.
Currently I would leave the hands of Bitcoin. Let's see what will happen next. By the way: If you are new in crypto and you just want to invest, then you can do it, because long term Bitcoin will go up again.
For more I keep up to date.
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Realizing now: Postet this idea in BTCUSDT and not BTCUSD = Less clicks and attention... I dont care then it is mostly for my followers :)
Thanks for the great support I am currently experiencing!
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We are still looking for confirmations. Right now I see no chance for bulls. They need a strong bounce to break the resistance line.
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Unfortunately, I am not at home so I can not show you a chart, but in my opinion this is not an inverse head and shoulders that many talk about.
Therefore, there is already the possibility that we test the 9000 range again before it goes down. Do not be shocked, we will fall after that. That means that I am still bearish and I am convinced of my idea. As soon as we break the $9000, many will be bullish again as they will think we have confirmed the inverse head and shoulders, which is not really one.
Question to you: Is this the real bull trap - what do you think?
I just can not imagine that everyone will be right with their idea, because that never happens. Most things happen in trading that many could not have imagined.
Tell me what is the market psychology in this situation?
If you mean the fact that it's going to be a bull trap, then you're right. I am still bearish even when we reach $9800. You can follow your target of $10000 or $10500 - have fun,
kolhaj
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I see it too and agree with you. I don't want to agree, but the chart speaks for itself unfortunately.
Exess17
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It`s turning badly only for you so far...
gyuri_mjk
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@Exess17, His projection is on target so far ... so, let's wait...