BTC bull trap is comming. (maybe)

BTC What now? The end of the bull market?

- importance of the 60.8k bitcoin level as the lower boundary of the trading range. And the fact that after breaking it we will rush to 57k, which was logical during the last weeks.

- In my view of the market, the situation now is as follows. As expected, I am waiting for a local reversal in the market, possibly the first green close of the week, after 5 weeks.

- And then the situation becomes much more complicated, in which, even with a roll into the last range, it is very hard to talk about a hike to 70.


In the 2nd screen, I drew a new trading range, after MM expanded the zone by approving the bitcoin distribution in the old range.

- Now I see the following: to show a false roll to 60-61k on bitcoin and then, making a beautiful bull trap, to return and even lower the price to 54k, updating the local low price.

+ The nearest larger scale discount is at 53.3k per BTC , and support is exactly below it, at 52.1k per BTC

- In my understanding of the market, right now, if we talk only about Bitcoin, we are in a very unclear situation for most players, but the most important thing is that there are fewer and fewer bullish scenarios in the market. We can't have a full-blown bull season with an alt season when everyone believes in a bull market. We need fear and a groundswell of people who will be negative. We are seeing an example of that now.

- I have indicated all possible scenarios on the chart with arrows for ease of understanding, but decisions will need to be made using all market factors, not just based on the chart of one asset.

🚩 ETH as an example, as opposed to $BTC. Ether didn't make it to my suggested target of $2,650, which means right now, with that in mind, I'm not allowing myself to long BTC in that range, because the assets are mostly correlated with the market, and I'm assuming the decline isn't over yet.