Traders say recent rally is “Bull Trap”

BTC failed to break $11,600 into the next Elliot wave, so we are going to continue our ABC correction downward. A break past 116 is unlikely due to decreasing volume. Most likely a bull trap. We would expect BTC to find support at the next Fibonacci level of $8,500 or the 200 day MA at $7,155. This will likely extend to XRP as well, with psychological support at a dollar, and the 100 day MA at $0.70.

you are in a bull trap.

 

new,joel