bitcoin looking to go lower. careful this could be a BULL trap!
hey guys :D
This is my first published idea thanks for coming! bitcoin seems to be on shakey legs currently and is below the emas on most time frames. it certainly looks like we are going lower. there is heavy resistance above on the four hour with the ichimoku cloud and the trend line from 20k and 17k. keep a close eye on the green trendline to see how bitcoin reacts. I think its pretty likely that could be the end of this small rally from yesterdays lows as many people are looking to take profit and exit positions they were stuck in. It seems the big boys are liquidating some shorts before pushing it lower so be very careful trading in this area. I'm looking for a breakout with high volume above that green trendline to signify some kind of change or morelikely a break down of the fib line around 7800. next stop after that will be around 7200. overall there is a lot of selling momentum and we are still in a giant bearflag.
This is my first published idea thanks for coming! bitcoin seems to be on shakey legs currently and is below the emas on most time frames. it certainly looks like we are going lower. there is heavy resistance above on the four hour with the ichimoku cloud and the trend line from 20k and 17k. keep a close eye on the green trendline to see how bitcoin reacts. I think its pretty likely that could be the end of this small rally from yesterdays lows as many people are looking to take profit and exit positions they were stuck in. It seems the big boys are liquidating some shorts before pushing it lower so be very careful trading in this area. I'm looking for a breakout with high volume above that green trendline to signify some kind of change or morelikely a break down of the fib line around 7800. next stop after that will be around 7200. overall there is a lot of selling momentum and we are still in a giant bearflag.
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damn i called that top haha