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Major BTC Bulltrap? Another leg downwards!

By WhaleHunter_KJ
BTCUSD Index Analysis OF Very Probable reversal and new downtrend continuation
Reasoning goes by the points I've made below


  1. DOUBLE-TOP that happened at May 20th and June 24th AT 71940 BTCUSD
  2. Further major and strong Order Block (4H OB) at 67700-68400 BTCUSD level
  3. This recent move, that has been happening since July 19th, has sweeped old Liqudity area that previously formed mid-trend and formed DOUBLE TOP that happened at June 14th & 17th
  4. Additionally, June 20th Liqudity Run, that formed a Lower Timeframe Breaker Block, which was recently used as support for last liqudity area, just got swept (at the time of writing 20:52 utc +3).
  5. All of above coinsides with 0.236 Fibonaci retracement of last major downtrend that started at June 24th and ended on July 5th.
  6. Exuberant market sentiment about recent market uptrend and additionally too many optimistic mainstream media news regarding BTCUSD.


For last few confirmation would like to see

  • 66300 Level - Break and Close of LTF Breaker block area
  • 62400 Level - Another imporant level, if we break and close below, then it will only confirm all of the above.
  • 53500 Level - future level that I watch, when we get closer to it I will do another analysis.

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WhaleHunter_KJ

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