Cheds, a crypto analyst who is closely followed in the crypto market, recently warned his followers about a trap in the leading cryptocurrency Bitcoin. The analyst warns Bitcoin bulls that BTC will likely trap market participants buying the next rally.
Analyst: Bitcoin bears under control for now
The popular analyst and cryptocurrency trader known as Cheds shares important warnings about the leading cryptocurrency BTC with 45,100 YouTube subscribers in a new strategy session. Analyst Cheds says that Bitcoin bears are currently in check and any bounce is an opportunity to short BTC. The famous trader uses the following statements on the subject:
This is not about predicting where Bitcoin (BTC) will go. It’s like college basketball: if you understand who has the time to have the ball and what it means to have a bounce; You are watching a short-term position, wanting to weaken a jump in resistance. You are looking for anything that will give you the best potential setup according to the trend. You are looking for the best counter trend move you can weaken.
This move is a red flag for the bulls
The analyst, who is watching with interest by the crypto community, also explains why he believes the next rally will be a trap rather than a trend reversal. Bitcoin (BTC)’s recent move below $45,000 is considered a major red flag for the bulls, according to the crypto analyst.
You had a $45K tested master. The time interval, the time between trials, occurred over time with multiple points. You have the right to a time out and an override. This is a really bad sign. This should be the start of any analysis as the stock’s RSI is either oversold or there is no random Elliott Wave or one hour head and shoulders formation. Skip this topic. Just focus on momentum and key levels. As
Kriptokoin.com, the important details to follow for analyst Cheds, whose analysis we follow closely, are as follows, while Bitcoin, the leading cryptocurrency, has decreased by 7 percent in the last week. However, Bitcoin has increased by 1.70 percent in the last 24 hours, trading at $ 43,173.
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