BearTrapBeware
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Bitcoin Correction Expected After Bear Trap Rally
#beartrap #BearTrapBeware #Write2Earn! #BinanceSquareFamily #Market_Update
Bitcoin recently experienced a pump following a **Bear Trap**, as anticipated in previous analyses. Currently, it is trading within a **resistance zone** between $63,470 and $62,340 #nearing the upper boundary of a descending channel and the **200-SMA** (Daily).
A correction is likely, with a potential drop toward the **support zone** of $61,840 to $61,450. However, there is also a possibility of a **Bull Trap** forming, with a fake breakout of the descending channel. If Bitcoin can break through both the descending channel and the 200-SMA, we might see the price rising toward **$66,000**.
Key Insights :
- Bitcoin faces **resistance** in the $63,470-$62,340 range.
- A **drop** toward the support zone of $61,840-$61,450 is likely.
- Breaking the **descending channel** and 200-SMA could lead to a rally to **$66,000**.
- Bull Trap risk : A fake breakout might occur.
Conclusion :
Bitcoin appears poised for a correction after its recent pump, with a drop to the support zone probable. However, traders should be cautious of a possible Bull Trap or a breakout leading to further gains.
Advice :
Ensure you follow your strategy, use stop losses, and stay updated with market moves. Monitor Bitcoin’s performance closely for signs of either correction or a bullish breakout. Trade safe!
#beartrap #BearTrapBeware #Write2Earn! #BinanceSquareFamily #Market_Update
Bitcoin recently experienced a pump following a **Bear Trap**, as anticipated in previous analyses. Currently, it is trading within a **resistance zone** between $63,470 and $62,340 #nearing the upper boundary of a descending channel and the **200-SMA** (Daily).
A correction is likely, with a potential drop toward the **support zone** of $61,840 to $61,450. However, there is also a possibility of a **Bull Trap** forming, with a fake breakout of the descending channel. If Bitcoin can break through both the descending channel and the 200-SMA, we might see the price rising toward **$66,000**.
Key Insights :
- Bitcoin faces **resistance** in the $63,470-$62,340 range.
- A **drop** toward the support zone of $61,840-$61,450 is likely.
- Breaking the **descending channel** and 200-SMA could lead to a rally to **$66,000**.
- Bull Trap risk : A fake breakout might occur.
Conclusion :
Bitcoin appears poised for a correction after its recent pump, with a drop to the support zone probable. However, traders should be cautious of a possible Bull Trap or a breakout leading to further gains.
Advice :
Ensure you follow your strategy, use stop losses, and stay updated with market moves. Monitor Bitcoin’s performance closely for signs of either correction or a bullish breakout. Trade safe!
Beware the Bear Trap! 🐻🚨
In the ever-shifting world of trading, the bear trap is a cunning trick that can leave you in the dust. It lures you with the promise of a market plunge, only to turn around and leave you scrambling as prices surge. Don’t be fooled by this deceptive ploy!
Traders who fall for the trap might find themselves on the wrong side of a market rebound, watching in dismay as their positions take a hit. This isn’t just a random blip; it’s a strategic maneuver often crafted by market veterans who know the ropes.
Stay sharp and stay ahead—don’t let the market’s sleight of hand catch you off guard. Keep your eyes peeled and your strategy tight!
#Write2Earn! #BTC ☀ #BearTrapBeware #BinanceTrading
In the ever-shifting world of trading, the bear trap is a cunning trick that can leave you in the dust. It lures you with the promise of a market plunge, only to turn around and leave you scrambling as prices surge. Don’t be fooled by this deceptive ploy!
Traders who fall for the trap might find themselves on the wrong side of a market rebound, watching in dismay as their positions take a hit. This isn’t just a random blip; it’s a strategic maneuver often crafted by market veterans who know the ropes.
Stay sharp and stay ahead—don’t let the market’s sleight of hand catch you off guard. Keep your eyes peeled and your strategy tight!
#Write2Earn! #BTC ☀ #BearTrapBeware #BinanceTrading