BULL TRAP 🚨
New money has been coming into the market as shown on the Crypto
TOTAL Market Cap, hence why you haven’t seen “rotations” in coins, but it appears to be drying up.
There’s been major resistance at the 200DMA, which is just below the previous ATH at $3T, and PA is being squeezed between the 9DMA.
Combine this with a heated RSI, it appears to be a bear flag in the making.
The trendline from Oct. ’23 gives confluence with the 50DMA as support.
*The only savior I see at this point is price smashing through the 200DMA and flipping support into the green accumulation box.
Regardless, this move is coming to an end later this week to test support or breakout.
Again, I’ll reconfirm my stance that this is the most obvious bull trap I’ve seen all cycle. Although I hope to be wrong 🥲
Having said that, after support is confirmed on the move, we are going to VALHALLA 🚀
Bookmark this 🤓
New money has been coming into the market as shown on the Crypto
TOTAL Market Cap, hence why you haven’t seen “rotations” in coins, but it appears to be drying up.There’s been major resistance at the 200DMA, which is just below the previous ATH at $3T, and PA is being squeezed between the 9DMA.
Combine this with a heated RSI, it appears to be a bear flag in the making.
The trendline from Oct. ’23 gives confluence with the 50DMA as support.
*The only savior I see at this point is price smashing through the 200DMA and flipping support into the green accumulation box.
Regardless, this move is coming to an end later this week to test support or breakout.
Again, I’ll reconfirm my stance that this is the most obvious bull trap I’ve seen all cycle. Although I hope to be wrong 🥲
Having said that, after support is confirmed on the move, we are going to VALHALLA 🚀
Bookmark this 🤓
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.