#BTCUSTD Bull Flag Formation. Bullish Or just a Trap?

16 thg 9, 2021

Welcome to this quick Update, everyone.
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I also post altcoin setups on Spot, Margin, and Futures.

Let's get to the chart,

BTC closed above 48.1k daily which is bullish.
We can also see some bull flag structures information.
Everything looks bullish and people across the space are FOMOing into altcoins with high leverages. For the short term yes BTC looks bullish but only for scalping.
Get in, take profits. Avoid greed.

I believe it's better to stay on the safer side and trade with only 10% of your overall portfolio.
I am fully


Let's think a little different here:-

BTC is not Bullish below 52k.
Unless we see a close above 52K BTC can make many false breakouts to the upside.
I could be wrong and I would be happy if I am but things look fishy here.
The red resistance area is too strong.
We need a weekly close above 52K to be bullish again. Else all these moves and those Golden crosses will end up being a trap printing lower high after 64.8k (I will share this chart on Saturday )So please be careful with your trades.
So be careful with your trades and practice proper Risk Management!
It's better to be prepared. then sorry!

Avoid overnight holding on leveraged positions.

Do your own research before making any financial decisions.
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BTW, What's your thought on this?

Do you think this correction is over?
Do you think BTC could easily pump from here?
Please share your views in the comment section.

Thank you


#PEACE