Chainxspace: Bitcoin’s Next Rally will be a Bear Trap
As the Chainxspace analyst says, it’s not about predicting where the price will go. It’s like in basketball: you need to understand who has a chance to get the ball, and if we bounce, look at the shorts.
You’re trying to turn a rebound into resistance. You are looking for something that will give you the best potential setup based on the trend. You are looking for the best anti-trend movement that you can smooth out.
The Chainxspace analyst also explained why he thinks the next rally is likely to be a trap rather than a trend reversal. According to the cryptanalyst, the recent fall of bitcoin below $ 45,000 is a serious signal for bulls.
We had a basic level that was tested ($45,000). It is formed over time, the interval between attempts, several points. Now there is a break and no confirmation.
This is a really bad sign. And this should be the beginning of any Chainxspace analysis, not that the stock’s RSI is oversold, or this random Elliott wave, or some one-hour head and shoulders. Forget about it. Just focus on momentum and key levels.