Closer Look At The Bull Trap In The Making

2021年7月23日

Let's look at the overbought area and the bull trap in the making. With "the talk" is now over, price started struggling to cross above the old weekly lows and got rejected twice as a sign of weakness. Coincidentally few days before "the talk", JP Morgan unleashed their customers from buying GBTC crypto funds. Is this the demand we were waiting for? In other words, are these the people being trapped right now?

Probably yes.

I'm expecting a short term weak uptrend followed by a down move below 30k.

Best!

2021年7月23日

註釋

January close at 33138.71 looks like an important level for a 1 to 4 candle correction perspective on the monthly chart. If we close this month above this level, we can have a green bar in August which i believe would be a short term reaction. I expect this bull trap to be over before the monthly close and close below this level.

2021年7月24日

註釋

Weekly perspective for the pump

2021年7月26日

註釋

Too good to be true

2021年7月30日

註釋

Point of No Return