I am inspecting the 4 hour candle in comparison to the daily chart on BTC and it seem we have all the characteristics of a bulls trap on the chart. If the next 4 hours candle does not close bullish, it will confirm a bulls trap and price will likely pullback into the triangle. So be cautious trading at this resistance level.
Bull Trap Chart Characteristics
Look for:
A strong bullish candle that breaks above recent highs or resistance.
Volume spike on the breakout — signs that traders are buying.
Followed by a sharp bearish candle (like a shooting star, bearish engulfing, or long wick).
Price falls back below resistance, turning the breakout into a fakeout.
Cheers !!
Bull Trap Chart Characteristics
Look for:
A strong bullish candle that breaks above recent highs or resistance.
Volume spike on the breakout — signs that traders are buying.
Followed by a sharp bearish candle (like a shooting star, bearish engulfing, or long wick).
Price falls back below resistance, turning the breakout into a fakeout.
Cheers !!
تم إغلاق الصفقة يدويًا
Hello Traders, there is a change in character on BTC chart at the moment. Yesterday (7/9/2025), there was a strong bullish candle and matching volume that broke through a MAJOR RESISTANCE HOLDING DOWN price. We have also clearly exited the Pennant Triangle. This move is more likely NOT a fake out like the previous as the effort is proportional to the result. I have there closed the short position on BTC. I am NOT FULLY COMMITTED TO A LONG YET as there is double tops structure in check now on the daily chart. It's best to wait for a clear break and close above the $112k resistance level before going long. Alternatively, if there is any bearish candle reversing the breakout move, then you can go short. For now I personally will sit on the sidelines until one of these triggers take place. My trading is rule based and I must stay disciplined. Cheers! 
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.