BitcoinShort
BITCOIN - NEW BULL TRAP?
Updated
I think B wave just formed, this "breakout" is ridiculous just look that volume. So far we saw 2 bull trap whether this will be the third? RSI showing some type of Head and Shoulder pattern. MACD is going to crossover to negative side. If you use Trend-Based Fib Extension from wave 0 to A to B, you will get that C wave will be around 0.786 Fib (3530$). Bitcoin also made lower high that is one more bearish argument. Overall I'am not bullish on Bitcoin on long time frame. I'am almost sure that we didn't hit the bottom. Before making higher high Bitcoin must test that temporary bottom.
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Expecting to see a little retrace on 3800, but overall I'am still bearish.
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