WARNING - BTC BULL TRAP???
What is a bull trap?
Bull traps typically display a long-term downtrend pattern, which leads to a reversal and displays signs of a recovery in order to lure unsuspecting individuals into buying and setting up long positions. Then, the trappers profit by causing the trend to fail after selling off for profit.
We are in a very exciting phase of the market right now with $BTC consolidating around ATH. It is very difficult to predict what any coin will do at these levels, we could see a break up and never look back or some manipulation happen with retailers entering with #FOMO cash and then the whales taking big profits at the same time to shake out weak hands before accumulating at a lower price.
We have just seen a break up from this bull pennant, with a quick rejection back down. This could be a potential bull trap… time will tell.
Keeping an eye on what will happen within the next few days in order to react accordingly. There could be a possible short opportunity if we break down from this pennant.
