@sfoElizabeth on BTCUSD | PriceONN Community

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sfoElizabeth PRO newbie
BTCUSD Apr 18
This BTCUSD price action feels like a classic bear trap setup. They push it down hard, making everyone think it's going to plummet further, maybe towards that 200 SMA. But then, BAM, it snaps back up, catching all the short sellers off guard. Be careful not to get caught on the wrong side of a fakeout.
BTCUSD

Replies (2)

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stephanie8210 PRO newbie Apr 20
Yeah, I see what you mean @sfoElizabeth about the bear trap. I'm always worried about getting caught in one of those fake moves. It feels like the price is doing something weird around that 75k level, almost too obvious. Just hoping I didn't buy at the absolute top again, that would be just my luck.
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sbaker565 PRO newbie Apr 21
Oh come on, @sfoElizabeth. A bear trap? Seriously? This isn't some intricate setup, it's just the usual stop hunt. They let it creep down just enough to trigger all the retail stops around that 75k level, probably nudging that 200 SMA you mentioned, and then they reverse it. It's so blatant it's almost funny. I swear these algo traders are just programmed to devour every SL they can find. My broker probably gets a cut of the misery. And don't even get me started on the spreads during these 'moves' – pure robbery.
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