Hidden downtrend line not broken... Yet!

As you can see, we can eliminate the parabolic moves as Bull traps and the downtrend line is still intact. Also there is an uptrendline from 6k. The next 4-5 days are going to make or break the tone for next 2-3 months.
If bulls can succesfully break and hold 12k mark, they have won.
If the downtrend line continues and we fall below 9.4k, a move to 8.4k is likely.

So what do you think will happen? I think we'll see the second scenario as we are in a bear market. I hope I'm wrong :)

Kommentera:

Looks like we are breaking upwards. But what's concerning me is the drop in volume. Generally volume is high if you have to break the right shoulder.

So another bull trap or a breakout?

Trade stängt: målet nått:

So it's a bull trap. AGAIN. Do not expect breaking 11.6k resistance that easily with regulations coming up, and oh the ticking tether timebomb.
If everything was as easy as spotting an inverse head and shoulders, everyone would have made money. It's not.