Bitcoin Price Prediction: “Anything too clean is probably dirtyâ€
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Loading... - Asuka Chiba
- 02 Aug 2022
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Bitcoin price shows justifiable reasons to enter a short position. Still, traders should be wary as smart money deception could accompany the newfound bearish evidence. As notorious trader FF once said, “Anything too clean is probably dirty.”
Bitcoin price looks weakened but not dead
Bitcoin price could become problematic for day traders in the days to come. The technicals are beginning to show clear evidence of trend failure. The Relative Strength Index confounds the bearish sentiment as a clear double-top formation with bearish divergence has presented itself on the daily chart. Still, the BTC price has higher liquidity targets, specifically at the $26,000 level that has yet to be breached.
Bitcoin price currently trades at $23,421. The BTC price appears to ascend in a wedging-like pattern over the last two weeks when zooming out of the current congestion zone. Patterns like this are very common smart money traps meant to entice traders to base their positions on the most recent price action. However, larger time frames are beginning to tell a different narrative. Read More...
