Is a BTC Bear Flag Appearing or a Short Trap?

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The pin was inserted upward again in the early morning, perfectly touching 0.618 and then quickly falling, and it seemed that a new bearish upward channel could be drawn, or it could be understood as a bearish bear flag.

From a short perspective, after falling below the upward trend line, the price tried to pull back or stand back on the trend line three times but failed. 50.7k has been tested repeatedly and the support is rapidly weakening. In fact, if it falls below 50.7k If this is the case, it can basically declare that this round of bulls is over. The fall below 49k will just open up a new round of shorts and confirm it.

For bulls, the price must return to above 52.1k as soon as possible after inducing short positions below, otherwise it may not really be a short inducing move.

Raging bulls can try to go long near the bottom of the channel, with a take profit at the top of the channel, and rage shorts can try to go long near the top of the channel, with a take profit at the bottom of the channel. It is not recommended for those with other risk preferences to participate.

I personally don’t like to watch the market and prefer left-side trading strategies. Trading strategies are time-sensitive. All comments do not constitute any investment advice. I wish you all good luck~