Bitcoin – bull trap detected!

24.07.2022 11:50 am

Hello, everyone!

Last time I thought that the another one leg up will be created, but now I changed my mind. Those situation was absolutely non-tradable. The anticipated earlier dump have already started.

On the 1D timeframe the Bitcoin clearly created the bull trap, showed the false breakout of the upper bang of the upward trend channel. Moreover we can see that the BTC price struggling to break through the monthly central pivot, which was mentioned even more than a week ago. The next support level now is $22500, from this price we will almost guaranteed see the bullish reaction, because the bottom monthly central pivot and the 4h key fractal level are located here, but in overall the Bitcoin is on the way to the new low below $17k.

Good luck!

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