The current top structure has formed, the 8 consecutive daily positive closes have completely ended, and the price has been firmly suppressed by the trend line. There is enormous selling pressure above, and bull momentum continues to weaken. Any subsequent rebound is likely a bull trap.
The bull trap scenario has two main possibilities: The first is to form a complex head and shoulders top. The left shoulder has completed two waves of rallies, the first wave of the right shoulder has also ended, and if small-level rebounds occur again, they would likely follow two waves with the high probably falling around 75,000; The second is a relatively strong bull trap where the price retraces and approaches the previous high then constructs a double top or M-top, after which a decline begins.
Although the current small-level has rebound demand, it is clearly a rally without volume, with clear bull trap signals. Operationally, continue to closely monitor the 75,000-75,500 range. Once reached, short positions can be established. #Gate广场AI测评官
BTC short-term has basically confirmed a top!
The current top structure has formed, the 8 consecutive daily positive closes have completely ended, and the price has been firmly suppressed by the trend line. There is enormous selling pressure above, and bull momentum continues to weaken. Any subsequent rebound is likely a bull trap.
The bull trap scenario has two main possibilities:
The first is to form a complex head and shoulders top. The left shoulder has completed two waves of rallies, the first wave of the right shoulder has also ended, and if small-level rebounds occur again, they would likely follow two waves with the high probably falling around 75,000;
The second is a relatively strong bull trap where the price retraces and approaches the previous high then constructs a double top or M-top, after which a decline begins.
Although the current small-level has rebound demand, it is clearly a rally without volume, with clear bull trap signals.
Operationally, continue to closely monitor the 75,000-75,500 range. Once reached, short positions can be established. #Gate广场AI测评官