Comparing Sentiment... Bear Trap? Bearware

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
With all the recent movement down I decided to do some sentiment analysis. I figured since people are becoming irrational it was time to look at it.

Moving on to the chart. What I am trying to compare here is a few of the key points that we have seen in the market. If you have used Adobe Premiere Pro and tried to blur faces you would know what these key points are. These points are where key movements happen. This would include a head that sways another direction from the earlier. You may not know exactly what happens in between but it does show where reversals in movement happen.

Now we are approaching that critical frame once again. Either this is a bear trap in which case we will start blasting off soon or... it is a simple correction in the market.

Sentiment up to this point has not been euphoric as it normally is during peaks. This could be a smaller bubble if you think of it on a small time frame as such. Not much greed has happened to call for a complete reversal and continuation down. I will say that this is a simple correction or bear trap dependent on what happens over the coming days. Right now we are seeing a catalyst on Finex with margins closing.

Blog if you want to see more:

Related are some charts that I find interesting and reflect the fact that this could be a correction. None of the related ideas reflect my current position on predictions.


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