Bitcoin: Bullish Trap and How not to Fail in Trading
Diupdate
In spite of making a new high, we have absolutely another type of upward movement. Just compare them. The 1st upward movement showed the strength of bulls. We have bullish candles one by one. When the price reached the upper line of the price channel, we got the 2nd type of upward movement. Bullish and bearish candles with long tails tell us that the bulls are not so strong and probably the bears are trying to start a correction. We are at the resistance zone where big players can fix the profit. They are closing their long positions when amateur traders, who ignored the value of knowledge and experience, try to join the obvious upward movement. But the problem is, they buy at the top!
I won't be surprised if the price gives us a false breakout above 14 000$ and we will see a pullback toward 13 000$, SMA20, SMA50, and 12 000$ levels and lines. Those, who trade in both directions and know how to do it properly, will get benefits from a downward movement as well. Amateur traders will stay with long positions opened at the top. Smart traders will wait for the correction movement and open new long positions at the bottom. It is how trading looks like. If you don't respect knowledge and experience, you will always move against the logical and the market. You will buy at tops and short at bottoms. But if you like to trade like that, make stupid mistakes, and play with money, why not? It is your choice!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
I won't be surprised if the price gives us a false breakout above 14 000$ and we will see a pullback toward 13 000$, SMA20, SMA50, and 12 000$ levels and lines. Those, who trade in both directions and know how to do it properly, will get benefits from a downward movement as well. Amateur traders will stay with long positions opened at the top. Smart traders will wait for the correction movement and open new long positions at the bottom. It is how trading looks like. If you don't respect knowledge and experience, you will always move against the logical and the market. You will buy at tops and short at bottoms. But if you like to trade like that, make stupid mistakes, and play with money, why not? It is your choice!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Catatan
I need to make it clear again:- the market is bullish in the daily and weekly charts
- the price is at the upper line of the price channel and it is a resistance zone
- we should expect the price reversal and a correction movement
- of course, if a new big player opens new positions with 16 000$ and 20 000$ targets, the price will move up.
As I wrote in the main part of the post, the correction movement looks like a good idea if we take into consideration the price action at the resistance zone.
New daily candles will be able to give us new information. RSI is in the overbought zone and it will be able to give a good bearish signal. MACD is bearish now.
The bearish model looks logical if compare it with a possible bullish model.
Catatan
Does it look like the price reversal? From my point of view, YES! The hourly timeframes give bearish signals as well. Catatan
In order to support my main idea, why I think the price will move down, here is a market review using the 4H timeframe. We have solid bearish signals supporting a downward movement toward 12 000$. 
Catatan
Watch for the price action between the upper line of the price channel and 14 000$ resistance. The price reversal and a new false breakout will be bearish signals. 
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