Looks like bitcoin heading higher.
This is actually a textbook inducement to lure bears into the short trap.
at the end of the day, we are at the 0.618 fib level, we are slightly below the VWAP (which usually happens when the price just collecting liquidity and reverses), also we broke the bullish leg, corrected and i think from here a higher high should emerge.
if you like more confirmations, just wait for the close above the vwap, and look for the volume spike when it does.
If you are like me, constantly been hunted by whales that targets my stoploss. Enter now and just keep your stoploss tight.
This is actually a textbook inducement to lure bears into the short trap.
at the end of the day, we are at the 0.618 fib level, we are slightly below the VWAP (which usually happens when the price just collecting liquidity and reverses), also we broke the bullish leg, corrected and i think from here a higher high should emerge.
if you like more confirmations, just wait for the close above the vwap, and look for the volume spike when it does.
If you are like me, constantly been hunted by whales that targets my stoploss. Enter now and just keep your stoploss tight.
Trade active
One more thing I forgot to mention — on the weekly timeframe, we’ve swept the weekly high and got rejected almost immediately. That said, a full reversal isn’t confirmed yet; for me, that confirmation comes at $110,000.So, keep an eye on this level. This is the first time I’m leaning toward the idea that we might have topped. Still, I’m holding a bullish bias until confirmation kicks in, and I’ll flip bearish only if that confirmation happens.
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.