BTC Intraday analysis update - Potential for massive BULL trap!!

13 Des 2022

POSSIBILITY OF MASSIVE BULL TRAPS: As articulated in previous posts, the preffered count taken is that an ABC was completed at -$17400 with C wave subdivisions evident. With price strongly bouncing at the $16900, there is potential for alot of traders to become overly optimistic and a bull trap could occur; this could lead to a strong move coming posited to the downside which in turn would liquidate/stop new longs in the market with such optimism present. If price does manage to get above 17400$ this would invalidate this idea but for now this is the preferred play out and if such does occur then reevaluation of the count would be necessary.

Volatility is on the rise; and a big move is likely incoming and we are yet to see the direction. If we do see a strong reversal from here a big sell off would be likely towards 16200 area as described in previous posts.

Lets see how this plays out. Stay Safe!!