"Bear trap". Bitcoin is to blame. Altcoins return to their original positions.

Yesterday's rise in the price of bitcoin pulled the growth of many altcoins. But this growth was short-lived. Consider the bitcoin stock chart. Timeframe 1 day.

Screenshot

Bitcoin growth was bridged with two lines of resistance. The trend line 1 and the local line 2.
Larger image.

Screenshot

Yesterday, the price of Bitcoin broke through the local line 2 and rested on a new local line (yellow 3). Above is the trend line 1, which Bitcoin no longer breaks. Its price will begin to decline. Altcoins, which are highly dependent on him, are reaching for Bitcoin. Now the price of altcoins will also decline. For this reason, the pattern of the growing expanding wedge has been formed on the exchange graphs of many altcoins. It promises a 90% drop in price.

The previous post was devoted to some coins that fell into the “Bear Trap”. But this situation arose in almost all coins.
I will give you one more example, this is BCH(ABC) coin.

Screenshot

This pattern is classic and often occurs when there is an unreasonable increase in the price of a financial asset. Often, traders do not have time to see this pattern, so they can get losses.

Thank you for reading and support!
Good luck!

The @upvoteinvest team

A formal disclaimer
Some of the posts might contain our opinion on trading strategies based on our technical and fundamental knowledge. However, please, invest at your own risk. We can’t be held responsible for any losses.

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