Projected Higher Low – Bear Trap
Bitcoin / TetherUS BINANCE:BTCUSDT
- January 24th, 2022 seemingly found the bottom at $32,917. Setting 3 trendlines with the bottom and finding a higher low.
- The middle trendline finds a valley of resistance before breaking out into upward movements. Seemingly, always having resistance below the line.
- If there is a decline, we will likely see a new higher low (assuming it follows this pattern) of around 38k – with some resistance below the middle line following this pattern until another breakout.
This won’t last very long as the valley of resistance is becoming shorter with each higher low.
- After battling that low resistance between 38k and 39k and making a significant move upward to test the top trendline near the 4 peaks of resistance again for the 5th time, we’ll very much likely see it test 47k and upward.
