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Bitcoin
Short

Bull Trap in Bitcoin

By Bikko_Koiwai
BTCUSD Looks to be completing a bull trap and will likely drop to a $10,000 or $7,500 target before rebounding at all. Many technical indicators back this pattern up and make for a very convincing short.

Bitcoin is possibly a good buy around these two targets, but definitely not before. Stay away if US GOV starts pushing for more crypto regulations. If that starts brewing we might see lower than $7500.
Bitcoin (Cryptocurrency)BTCUSDbtcusdshortcryptoCryptocurrencyEconomic CyclesFibonacci RetracementFundamental AnalysisregulationVolume

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