Syndyk8

BTC BULLISH INDUCEMENT ENDING

Corto
BITSTAMP:BTCUSD   Bitcoin
We can see that the Long Term view( LTH) on a weekly perspective is bearish ( albeit the Monthly is bullish). Thus the Weekly time frame needs to finish its weekly bearish cycle before we can have bullish trend continuation. However, price action is fraught with inducement, that has enticed many retail traders to buy early. Smart Money will wait patiently before sweeping all liquidity at the Short Term High (STH) and thus continue with the Bearish Trend. This will form a new Lower High. They will target all the liquidity at equal lows with ITL BSL as our first target.
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