Are these green candles a trap?
Updated
These was a possible reversal from the Fibonacci Circle, but shall we consider it as a trap? I'm still bearish on bitcoin, what are your views? The Microstrategy buying bitcoin news did pump the market. But, shall we consider it as a trap, or it is a good sign to buy the dip?
Well, according to Fibonacci, the 3.618 level of the circle are possible reversal zones. But, still I'm currently bearish because of the market sentiments, and the low volume level. The bears might not be active for now, but you should be prepared for a further bear market too.
There is a huge resistance at the current pitchfork level too. We shall wait for the current candle to close. If it closes below the current pitchfork level, we are still in the trade, or else consider this trade as inactive.
Your SL should be small.
Well, according to Fibonacci, the 3.618 level of the circle are possible reversal zones. But, still I'm currently bearish because of the market sentiments, and the low volume level. The bears might not be active for now, but you should be prepared for a further bear market too.
There is a huge resistance at the current pitchfork level too. We shall wait for the current candle to close. If it closes below the current pitchfork level, we are still in the trade, or else consider this trade as inactive.
Your SL should be small.
Trade active
break even.Trade closed manually
16000 pips by trailing the stop loss 🔥
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