Bitcoin Bear trap in play
Hello dear readers,
After the break-down from the triangle on the 24th of September, we have been consolidating in another descending triangle untill now,
A consolidation should always lead to a trend, not reversal and accumulation in the 7800-8300 range. So my confidence in the bearish scenario that we continue to go down is gone.
Today Bitcoin bitcoin has shown a reversal from the lows, showing no continuation of bearish momentum.
This is indicating that the whole break-down was one massive bear trap and that we will see all time high's coming soon.
My plan is to hold spot position till the end of the year or till the Halving in April 2020.
The market is trapping both sides and giving mixed signal, So i do not want to get caught offside.
Conclusion: Rebought position right now (100% spot)
After the break-down from the triangle on the 24th of September, we have been consolidating in another descending triangle untill now,
A consolidation should always lead to a trend, not reversal and accumulation in the 7800-8300 range. So my confidence in the bearish scenario that we continue to go down is gone.
Today Bitcoin bitcoin has shown a reversal from the lows, showing no continuation of bearish momentum.
This is indicating that the whole break-down was one massive bear trap and that we will see all time high's coming soon.
My plan is to hold spot position till the end of the year or till the Halving in April 2020.
The market is trapping both sides and giving mixed signal, So i do not want to get caught offside.
Conclusion: Rebought position right now (100% spot)
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.