The Bulls have not been able to hold confidently above $43K for long enough to solidify a trend reversal and the bears wanted to make them pay for it. Here is what the bears are thinking: Unless we are in a bear trap the likelihood of seeing a sub $30K BTC is high. The confirmation will be a break below $40K, and if this happens… timber. Be careful because according to the bulls we think (as we said) that this is a possible bear trap, where a quick shake out will kick weak hands out of their bags just before pushing onward and upward on its way to reclaim $50K. Be vigilant and have a plan on what you are going to do. Sell at your stop loss but be ready to buy back in if they trigger but don’t follow through with strength. This market is likely to rip off faces.
