In TF4H BTC has not succeeded in extricating itself from the compression triangle in which it has been evolving for several days, which validates the hypothesis of a bearish pennant.
The accumulation of bearish signals and fractal analysis reinforce my idea of a weak retracement before another large decline.
This publication is a trend hypothesis.
The accumulation of bearish signals and fractal analysis reinforce my idea of a weak retracement before another large decline.
This publication is a trend hypothesis.
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I am neither bull nor bear, I just follow the market.
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in TF2H a pullback is in progress, the drop is coming back soon ...
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Be careful, bulltrap in progress.
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This bulltrap is boosted by the FOMO of the moonboys, the denial of reality of inexperienced traders, but also the false good news that is looping on social networks.
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Amazing bulltrap, be care.
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BTC will strongly relapse this week.
Current bearish factors :
- a large bearish flag
- a strong MACD divergence
- a huge RSI divergence
- a steady increase in institutional short positions (COT report)
- a significant drop in volumes in recent months
- a weekly bearish MACD cross
- a death cross in progress
- the great powers want to regulate the market
Current bearish factors :
- a large bearish flag
- a strong MACD divergence
- a huge RSI divergence
- a steady increase in institutional short positions (COT report)
- a significant drop in volumes in recent months
- a weekly bearish MACD cross
- a death cross in progress
- the great powers want to regulate the market
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In TF2h I see that the current technical rebound corresponds well to the expected result for a small bullish divergence in a downward configuration. IMO it's a real bulltrap.
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![[Bitcoin] BTC will relapse](https://s3.tradingview.com/2/2XStPn5h_big.png)
