Bitcoin Update 26/01/22: Bitcoin (BTC) potential bull trap, bouncing 15% before the FED announcement, currently BTC is -45% gain from the ATH reached in November 2021. We currently are in a downtrend, BTC has recovered fast before and we could get the same here. The current RSI on the weekly is close to that of the March 2020 crash (which was a little lower than...
Look for Bitcoin to complete a drastic drop during Wave 4 of what seems to be a developing motive wave. With both Waves 1 and 3 having have an internal three-wave setup, it's all but confirmed that we're in a Leading Diagonal Wave (feel free to call it a Wedge if you'd like). Sniff, sniff.... Issa dump.
For an instant replay, see the related idea about the first bull trap. The Dual BARR top (see other related ideas) speaks to the tendency for BTC to produce a second spike following a breach of strong support/resistance. This second trap setup follows the same logic and works almost like a bearish confirmation in this case, rather than a sign of the new bull...