Trend reversal or bull trap
Cập nhật
If we talk about technical analysis
I see inverted head shoulders, the same as it was in 2018.
Also we are near MA200, now the situation is identical, we reach this moving and after that we go down
61.8 fibonacci level also works
The media is very bullish
Bloomberg every day there are articles from January, articles for beginners, about "that everything is fine, after 4 months halving and you will see the price twice as much.
There is no bottom when the media say that everything is fine. The bottom is when the media say that this is an apocalypse, collapse, only bad information.
Let's look at the situation regular traders bought at a price of 7-8k dollars
Who is buying 8-9k now? big players?)) I don’t think so, retail traders who jump into the outgoing train
you remember the end of 2018 when the media said that at the end of the year we will see 20-15k and after that you remember that we go to 3k.
What we can see now is the inverted head shoulders, and create the illusion of a return. All those who are now gaining a position are the very people who will be the first to sell, and stop loss in the area of 6800-6400 and after we achieve this, the position closes in the market and we go even lower.
January 25th, we have a Chinese New Year, in the coming week, I think many will go at these prices and after that we will go lower
This is my opinion we are still in the downtrend after a break and consolidation above 10400, for me there will be a final change of trend
Best regards EXCAVO
I see inverted head shoulders, the same as it was in 2018.
Also we are near MA200, now the situation is identical, we reach this moving and after that we go down
61.8 fibonacci level also works
The media is very bullish
Bloomberg every day there are articles from January, articles for beginners, about "that everything is fine, after 4 months halving and you will see the price twice as much.
There is no bottom when the media say that everything is fine. The bottom is when the media say that this is an apocalypse, collapse, only bad information.
Let's look at the situation regular traders bought at a price of 7-8k dollars
Who is buying 8-9k now? big players?)) I don’t think so, retail traders who jump into the outgoing train
you remember the end of 2018 when the media said that at the end of the year we will see 20-15k and after that you remember that we go to 3k.
What we can see now is the inverted head shoulders, and create the illusion of a return. All those who are now gaining a position are the very people who will be the first to sell, and stop loss in the area of 6800-6400 and after we achieve this, the position closes in the market and we go even lower.
January 25th, we have a Chinese New Year, in the coming week, I think many will go at these prices and after that we will go lower
This is my opinion we are still in the downtrend after a break and consolidation above 10400, for me there will be a final change of trend
Best regards EXCAVO
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