Bitcoin bull trap coming up?

Finally, BTC closed below 50D MA, but

• no strong volume on breakdown
  
• start to reach oversold zone
  
• bears losing momentum
  

To reset the oversold condition, it's very likely to see a green weekend but perhaps without much movement.

By Monday, people will start to fomo anew, all posts on TV will be bullish, thinking we've found support, rounding bottom...

That'll coincide with 50D MA & the resistance.

Another push will take us to 7.4k (50W MA).

Then another retracement before big push down to 6.5k.

Optional: another bull trap & final breakdown. Hodlers will be in tears & the bear market will finally be over. If we manage to reach 2.5k by July, by EOY we'll see >10k again and in two years >100k.

Bình luận:

Some taking profit
But started under 50d

I think it'll fail 50d and crash again
To start wave 3 of wave 3
The big one

Bình luận:

Good pump. possibly will go even higher & dump will begin late in the week

This market defies analysis, but a general rule is that most people are wrong most of the time

Bình luận:

I want to see a bullish swing failure (as green arrows) to enter a short position

Bình luận:

another big minute

Bình luận:

Seems like it's falling again but it's quite oversold

I think bear market has finally sunk in and ppl no longer have much hope

Anger and despair later we'll see the bottom