Bearish Trap is on Bitcoin Price Chart

There was a bearish trap on Bitcoin price chart. Bitcoin price went dwon from 48K to 38K. When Bitcoin price broke down 40K USD, It also broke down the support line coming from November 2023. Bitcoin may be drawing flag pattern.

After breaking down 40K USD, lots of investor was dreaming to buy Bitcoin from 12K USD level. But It may be bearish trap. After ETF news, some corporates should buy Bitcoin from lowest level. It may be great chance for them.

Here you can see daily chart of Bitcoin and I drew the possible trap.

Even it seems as a bearish trap, it may be a exit pump for big dump on Bitcoin price chart. Here you can see the Indicators of daily Bitcoin price chart. Bitcoin will hit the middle line of middle Bollinger Bands. It is resistance for Bitcoin and Bitcoin may make a lower high. It may great level to sell crypto.

MACD Indicator and Fisher Indicator are reversing from the bottom. It will go up a few days and will hit the middle line of Bollinger Bands is the first resistance!

We will see If it is a exit pump or, bearish trap.

I shared lots of analysis for Bitcoin price chart and said I changed my crypto to cash.

I am waiting...

Posted Using InLeo Alpha