Bull trap breakouts create strong bearish reversal
When people are trapped in trades and they all start rushing for the exit it can create a large force to break the support on the other side
This was a distribution move for bulls to sell high or shorts to enter
On the lower timeframe 5 min you can see the move up to 38k created sort of a bull flag BUT the problem is that the pole had low volume and the flag had crazy high and consistent volume which indicates distribution not a bullish flag
Enjoy
This was a distribution move for bulls to sell high or shorts to enter
On the lower timeframe 5 min you can see the move up to 38k created sort of a bull flag BUT the problem is that the pole had low volume and the flag had crazy high and consistent volume which indicates distribution not a bullish flag
Enjoy
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