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Maverick45

BTCUSD 1D - Expected Bear Trap/Pinbar into 1D 200EMA/Monthly S1

Bitcoin (COINBASE:BTCUSD)  
Maverick45  
COINBASE:BTCUSD   Bitcoin
Support and Resistance Pivot Points Multiple Time Frame Analysis BTCUSD 1day 1d 1daychart
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supportandresistance pivotpoints mtfa btcusd 1day 1d 1daychart
BTCUSD
Price on the 1D chart is now just below 20EMA and 55EMA, also at the top of the triangle and mid-point of the channel, this suggests a move lower. Expecting a pinbar or bear trap into the zone that is between the monthly S1, the 200EMA and the lower part of the channel between 9000 and 8700. This would then be followed to move to the upside.

Not playing this move, waiting for the pattern to play out and direction to be confirmed on the 1 day chart, will then look for the next setup.
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