Bitcoin: How NOT to get REKT ??
Many Mondays in the cryptocurrency market start with a drop, but this is all a fake-out to quickly capture liquidity from below and start a bullish rally. Bitcoin is repeating the exact same pattern, starting the week with a red candle but soon to be followed by growth.
The fake-out:
The fake-out is a bearish pattern that is characterized by a sharp decline in price, followed by a quick reversal and rally. This pattern is often used by large market participants to trap retail traders and acquire liquidity at lower prices.
The liquidity grab:
The liquidity grab is a market manipulation tactic used by large market participants to acquire liquidity at lower prices. This is done by creating a false impression of a bearish trend, which encourages retail traders to sell their tokens. Once the liquidity is acquired, the large market participants can then reverse the trend and start a rally.
The bullish pattern:
The Bitcoin chart shows a bullish pattern. The price has been respecting the ascending trendline and making higher lows. However, the price recently broke down below the trendline, which many traders interpreted as a bearish signal.
The fake-out confirmed:
However, the price quickly reversed and rallied back above 69K , confirming that the breakdown was a fake-out.
The fake-out:
The fake-out is a bearish pattern that is characterized by a sharp decline in price, followed by a quick reversal and rally. This pattern is often used by large market participants to trap retail traders and acquire liquidity at lower prices.
The liquidity grab:
The liquidity grab is a market manipulation tactic used by large market participants to acquire liquidity at lower prices. This is done by creating a false impression of a bearish trend, which encourages retail traders to sell their tokens. Once the liquidity is acquired, the large market participants can then reverse the trend and start a rally.
The bullish pattern:
The Bitcoin chart shows a bullish pattern. The price has been respecting the ascending trendline and making higher lows. However, the price recently broke down below the trendline, which many traders interpreted as a bearish signal.
The fake-out confirmed:
However, the price quickly reversed and rallied back above 69K , confirming that the breakdown was a fake-out.
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