Some similar 3 weak new highs, followed but 1 new lower high patterns to compare. When trends have a loss of momentum and it is impossible to maintain you typically see these rounded top looking distribution patterns. The good news is that the 200 Day moving average is being tested. The bad news is that is Bitcoin cannot find the buyer support that it needs, then...
Well here we are, New ATHs and new bull season. It looks like what we currently looks like some TP and weak hands. The ride isn’t over but there will be fear and panic along with plenty of ignorance and greed. Which means expect volatility and lots of whip saws. Good Luck! Tip: If you keep getting stopped out, revaluate your exits. Try placing your entry where...
BTC on pace to make new All Time Highs.
Those lower highs were the bulls consolidating and we have lift off. Still might see some whipsaw action (cap wick in the 8s) but bottom is in, next stop ATH.
Bitcoin still range bound perfect time for a bull trap.
Now would be a good time to place entires at your stop and maybe even add 20% for volatility. BTC is coiled up and ready to shoot. What would be the worst thing to happen to everyone?
BTC slowly drifting lower in this consolidation. We will possibly see a capitulation candle if the bulls are really in control.
Testing whipsaw wick and 3 time tested support that’s held since 30 April. HTF If 6400 holds good, if not bad.
Bitcoin Broke out of range only to get sucked back into it. Bull trap or retest, we will find out!