Imo we are almost done with the correction, because we can clearly see some bullish momentum is building already. It made a higher low, and we didnt in price action, so thats a bull div. to me, (not 100% confirmed yet)
2014 : After the bulldiv is made, BTC formed a resistance arround $292. 2018 : After the bulldiv is made, BTC formed a resistance arround $7300 & $8200.
And then BTC goes in the red zone, its a boring period of time with extreme less volatility. You can see that in 2014 and current price action : 11/11-2018.
So if this will play out again, we are waiting for a bullish impulse upwards, towards the 2 resistances @ 7300 and/or 8200 This will be a bulltrap, where new money will jump in , and where breakout traders will be caught. (stucked) Then a huge pullback and stophunt/beartrap. Same game, but then on the opposite price direction. Wait and see... only time will tell... But all i want to say is ; Based on last correction / stages we are almost there !
Crossing the redzone and wait for the volatility to come back.
If you agree, please leave a thumbs up, if you disagree or want to share your thoughts, leave a message below.
Happy trading !
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Well well well thats the other way arround. The question is ; is this the beartrap? And was the tether fud ( 15-10-2018 ) That huge spike upwards the bulltrap? ($7790)
Maybe iam still in Denial modus. possible, But the usdt chart didnt break the support yet, only a spike. ( At the moment of writting. )