Bitcoin liquidity grab after break of falling wedge
Bitcoin is preparing to dump again, we can get agressive rebound after liquidation of more accounts or we can get huge panic with revisiting lower supports.
-With bullish rebound we can expect formation of lower high creating right shoulder of head and shoulders pattern.
-With dump we can expect 39000 btc slowly showing signs of bear market.
I do not think this is good trade setup because this situation can be easly manipulated and your trades can be stopped out.
-With bullish rebound we can expect formation of lower high creating right shoulder of head and shoulders pattern.
-With dump we can expect 39000 btc slowly showing signs of bear market.
I do not think this is good trade setup because this situation can be easly manipulated and your trades can be stopped out.
Everyone expects rebound after such formation of bottom so it will not be a bottom.
We need more liquidations if we want move upwards.
Then we need consolidation at lower levels.