Bitcoin Facing Multiple Bulltraps - WE'RE IN A BEAR MARKET STILL
Updated
Bitcoin is currently on a short bullrun as I'm making this chart but beware!
A lot of FAKE PUMPS! Even if we break 9k we can go DOWN. Even if we break 10k we can still go down!!!
Breaching 12k would be the only safe bullish area!
Look at Bulltrap 1a and 1b! This tricked many buyers.
Many people first got into bitcoin at 16k and they are hurting right now, as soon as we go back up just a bit, they will RESELL and get out IF THEY ARE STILL HOLDING.
Proceed cautiously! We didn't retest the lows enough to find proper stability!
Seems like the whales don't want bitcoin to die but the sentiment is low!
Bitcoin can go up or down so I'm neutral but we must be careful!
Please upvote so I can get the ability to comment on other TA!
Signing out, Ghostface
A lot of FAKE PUMPS! Even if we break 9k we can go DOWN. Even if we break 10k we can still go down!!!
Breaching 12k would be the only safe bullish area!
Look at Bulltrap 1a and 1b! This tricked many buyers.
Many people first got into bitcoin at 16k and they are hurting right now, as soon as we go back up just a bit, they will RESELL and get out IF THEY ARE STILL HOLDING.
Proceed cautiously! We didn't retest the lows enough to find proper stability!
Seems like the whales don't want bitcoin to die but the sentiment is low!
Bitcoin can go up or down so I'm neutral but we must be careful!
Please upvote so I can get the ability to comment on other TA!
Signing out, Ghostface
Note
Still following the triangleIf it breaks down it will be another steep drop to 7k-6k.
On the upside it will be a nice bullrun to 10k if it goes up
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