ExplainedStupefied

BULLISH OR BEARISH 🤔

1Day chart:
It's gearing up for a BIG move.

Notice how the price is gradually going up, the blue bands are fanning out, but the momentum wave is going down while price climbs / moneyflow steadily increases.

I'm Mega Bullish. MOO 🐮

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BUY FEAR + SELL GREED
= Trader Life

Don't be a sheep and FOMO into price action.

BUY when price has plummeted
SELL when price has skyrocketed.

❗️📛 Looking at on the weekly chart and I noticed a very bad long term pattern playing out.

👉This pattern is an Asending Wedge pattern which overall is BEARISH.
The likelihood of a Fake bullrun causing a large BULLTRAP to play out is very high.

With the coming weeks I can see a Fake bullrun slightly breaking above the triangle ($2700 to $2800) but inevitably getting rejected, the perfect bull trap.

Currently I am still bullish inside the triangle trading range, but with each strike to the lower support line I get more cautious.

Keep in mind this chart is on the weekly and we have a long way away from the Apex (tip of the triangle).

Now, looking at the Money flow, it's apparent that the bulls are definitely here and making progress as shown below the red bearish money flow is about to tick green bullish... but will it be enough to avoid the looming fate of the ascending triangle?