BTC: A PERFECT BOUNCE OR A TRAP???

١٥ مايو ٢٠٢٢

Welcome members to the quick update on BTC.

"Many traders are not liking the recent BTC dump. BTC is almost breaking down below the support level but we cannot confirm completely as we still have roughly 19 hours left for the candle to close. This could turn out to be a wick and BTC could bounce back or BTC could dump further down."

This is precisely what I wrote in my previous update and it did turn out to be a wick and bounce back. The candle closed precisely at the support level and formed a green candle which is a good thing. We roughly have 4 hours left for the weekly candle to close. It is essential for the candle to close above the support level. If things go well then we will see a perfect bounce soon. If not then it may turn out to be a big trap.

What are you thinking about the current BTC price?

Share your ideas with me.

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Thank you.