Danger, Bitcoin! - 70% Upside Chance is Bull Trap!

Are you sick of TV analysts telling you there is a chance that bitcoin may go up or possibly down and maybe sideways too?

Me too! I mean the only reason we come to TradingView is to skim off "sure-win" trades from top traders. But if all we get are horoscope charts telling us 70% chance up, 20% down and 10% sideways, why the heck do we need them to tell us.

I won't beat around the bush. Bitcoin is not going to 10k or 9k. What you are seeing now is a bull trap! Yes, a big bloody bull trap that preys on the desperate! I have explained everything on my chart so please read it. Heck, I will just give it to you now. We are going down period. I am not telling you to do anything. I am telling you what I will do for myself... SHORT!

Comment:

Well, this isn't much of an update because nothing has changed. We are still going down. We broke the green trend line again for the second time so it doesn't take a genius to figure out where we are heading in the coming weeks. If you shorted when I called it, congrats! Keep in mind we are now on fib 0.5 retracement. When it hits 0.618 at 7330, do expect a bounce so it is not a bad idea to secure profits from your short positions. Good luck!

Comment:

Don't get sucked in by the ongoing pump. The sharks are preying on your greed. In EW, this is called a B wave and it is followed by a C wave that pushes the price down deeper.

Trade closed manually:

I have just posted a new chart to explain why I believe Bitcoin is going down. Click on the new chart below and follow it to get new updates.