BTC- Bear Cycle May Not Be Over
Currently long but trailing stop. Would love for this to be the beginning of the bull cycle, but can't help but think too many people were waiting on this price. Market makers know these are the areas that can provide the most liquidity. I see a nice bull trap, then driving it down one more time to take out stops. Like always, price action tells all, so will wait to see how it reacts around the red box and closest Trandline. If we get a break and retest, of those areas, I would be inclined take another long to the next Trendline.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.