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RE: Bullish Trap May Appear on Bitcoin Price Chart

in Project HOPE5 days ago

Hey @chorock! Great to see such a focused technical analysis on Bitcoin's current price action! Your highlighting of the flag pattern breakdown, coupled with the crucial support line test, MACD resistance, and RSI divergence, paints a really insightful picture of potential bearish scenarios. The charts are super clear and help visualize your points effectively.

I especially appreciate you pointing out the possibility of a bullish trap – something many traders might overlook in their excitement. This kind of cautious perspective is invaluable in the volatile crypto market. Thanks for sharing your expertise! I'm eager to see how these indicators play out. Following to stay updated!