Ka The Daily Hodl - lilemo tse 2 tse fetileng - Nako ea ho Bala: Metsotso e 2
Mohlahlobi ea Phahameng oa Crypto O re Bitcoin Could Be Setting Massive Bear Trap – Here Are His Scenarios for BTC
A closely followed crypto strategist and trader is saying that Bitcoin’s (BTC) recent price correction could just be a massive bear trap.
In a new strategy session, pseudonymous analyst Cred tells TechnicalRoundup’s 32,600 YouTube subscribers that it is within the realm of possibilities that Bitcoin is currently shaking out traders below $60,000 before igniting on an epic rally.
“The only level that matters is the weekly range high here (around $59,000). We closed above it. That’s bullish. [The] market is trading lower now, probably towards [the] previous week’s low ($54,000), but because the close was positive, you’re expecting a trap at [the] previous week’s low and then move back above the level, and your first trouble area is the cluster (around $60,000) and then all-time high plus.
I think that’s not the worst argument in the world.”
The crypto strategist believes that Bitcoin has more or less a week to close above the range high around $60,000 and confirm the bear trap.
“In the most bullish case, it’s not the weekly [candle] that has to get rescued… The monthly and weekly get rescued. This current sh*t price action is just a wick portion. We end up closing above [$60,000], and we all panic for nothing, and it’s a full send.”
However, Cred says BTC could ignite a sell-off event if it fails to reclaim the critical level by the end of the month.
“But anything that doesn’t look like that will result in a monthly and weekly failed breakout, whereby you had the previous range high ($60,000), market poked above it, [and] closed below it. On any timeframe, on any chart, whenever you get that type of stuff – a real effort to break from balance and falling back within – your targets are the mid-range and the range low.”
According to Cred, Bitcoin’s inability to end November above $60,000 could result in a market reversal that likely drives BTC to around $50,000.
Sheba theko ActionU se ke Ua Lahleheloa ke Beat - Subscribe ho fumana litlhokomeliso tsa imeile tsa crypto tse tlisoang ka kotloloho ho inbox ea hau
Latela re ka Twitter, Facebook 'me thelekramo
lefilo Motsoako oa Daily Hodl
Lekola lihlooho tsa litaba tsa moraorao
Boitlhotlhollo: Maikutlo a hlahisitsoeng ho The Daily Hodl ha se likeletso tsa ho tsetela. Batseteli ba lokela ho ikitlaetsa pele ba etsa matsete a nang le kotsi e kholo ho Bitcoin, cryptocurrency kapa thepa ea dijithale. Ka kopo o eletsoe hore liphetisetso le mesebetsi ea hau li kotsing ea hao, 'me ho lahleheloa ke eng kapa eng eo u ka bang le eona ke boikarabello ba hau. Daily Hodl ha e khothaletse ho rekoa kapa ho rekisoa ha li-cryptocurrensets kapa thepa ea dijithale, ebile The Daily Hodl ha se moeletsi oa matsete. Ka kopo hlokomela hore The Daily Hodl e nka karolo papatsong e kopanetsoeng.
Setšoantšo se hlahang: Shutterstock/Tithi Luadthong/Natalia Siiatovskaia
Potso Mohlahlobi ea Phahameng oa Crypto O re Bitcoin Could Be Setting Massive Bear Trap – Here Are His Scenarios for BTC e hlahile pele ho Daily Hodl.
Mohloli oa pele: Daily Hodl