Bear Trap: TD 9 Sell Triggers As Bulls Push Bitcoin Higher
Bitcoin price action has now spent a total of nine days in a short-term uptrend, capping off a bounce back to 2021 highs. The sequence of mostly green candles has now triggered and perfected a TD 9 sell setup on daily timeframes. However, the signal has repeatedly failed to yield results since the more dominant high timeframe uptrend began. Is this time different? Or is this yet another bear trap layered into a bull flag […]
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In just 48 hours, Ethereum rocketed over 50% from $770 to roughly $1140 at last night’s overnight high. The massive Sunday candle was the lead up to a sell signal forming on daily timeframes. Was this latest push higher the last impulse in Ethereum’s bull trend? Or like Bitcoin, will this sell signal fail, and […]
Following what is described as an “epic bear trap” to $16,400, Bitcoin has officially set a fresh all-time high. The benchmark digital asset has never traded as a price this high on the spot market before, with bulls now trying to push it above $20,000. It does appear to be facing some resistance as it […]
Newbie crypto traders should be wary of bull traps. If you suspect one is on the way, here are some tips to identify it. How to identify a bull trapHere’s how to spot a bull trap with some tell-tale indicators that one is on the way:RSI divergenceA high RSI might be an indication of a potential bull or bear trap.A relative strength index (RSI) calculation may be used to identify a possible bull or bear trap. The RSI is a technical indicator, which can help determine whether a stock or cryptocurrency asset is overbought, underbought or neither.The RSI follows this formula:The calculation....
The bulls stampeded bitcoin price higher in a corrective advance on Monday and ran into a trap of their own making. When exuberant CNY buyers failed to advance price above the 1-day 200MA, the noise in the trading pit awoke The Bear. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h02 UTC. OKCoin-3Mth 1-Hour Chart. From the analysis pages of xbt.social, earlier today: The OKCoin 3Mth futures 1-hour chart and a look at the momentum....
Over $320 million in liquidations accompanies a gruelling 24 hours for crypto traders. Bitcoin (BTC) delivered more surprises on Oct. 14 as the reaction to macro triggers saw a sudden run at $20,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewStocks, crypto smoke shortsData from Cointelegraph Markets Pro and TradingView showed BTC/USD climbing to one-week highs, gaining almost $2,000 in hours.After the United States Consumer Price Index (CPI) print for September came in above expectations, an initial crypto rout put bulls on edge, but the pain was short lived.Bitcoin....