On the weekly Bitcoin chart, there's a clear bearish rising wedge pattern, and right now it's trading near the lower side of that wedge - getting ready for a downward weekly breakout.
But let me remind you of something very special,this will likely be part of a psychological game played by market makers, so note my words carefully:
- Bitcoin will break down from the wedge, giving a bearish signal, and many traders will enter short positions.
- It'll even dip slightly below the 50 EMA, making everyone more confident in the bearish move.
- Then, it'll reverse sharply upward, liquidating all the short positions.
-
Market makers always make you believe your plan is playing out perfectly right before they turn against you and take your money.
So stay alert, place your buy orders slightly below the 50 EMA, and avoid using high leverage.
trade safe always❤️