I'm feeling positive about this one, how about you?
Actually I have no idea if this bear trap will work :/
We may go into bearish trends if the trap fails...
We are seemingly heading towards a bear trap after a succesfull bull trap. $6.9k level will be the deciding point for this battle...Should we slide to $5.9k and below, we are gonna be looking for a bottom...who knows where that may be, but it's not in the 5's i'm afraid.
COINBASE:BTCUSD
Real good breakout potential, trading pressure is there, bulls and bears are thugging for the next push. I consider this a good sign as the next thing following the 2 bullish "flags" imperfect but they are bullish.
*Projected Buy/Sell zones with Stop Losses included for higher price prediction accuracy. Still under 9.7k resistance, poking above...
COINBASE:BTCUSD is ramping up for a small breakout...again...we needa close above 10.5k to signal end of bear downtrend and bullish takeover. I'm siding with bulls and even if we do not get a breakout today, i'm expecting a bullish support around 9.8k
The $6k bullish trend reversal was met with heavy resistance around $11.8k
Price has retraced 50% after a 2 week uptrend and corrected in the $9.7k zone.
Currently in the uptrend and above $10.2k where it needs to close to confirm it.
My speculation is that we will hit resistance around $11.2k and bounce down, retracing to support level of $8.7K
