Before the price tests the peak again, G will share with everyone the signs to recognize false breakouts, or as bG quickly calls it, BULLTRAP. Everyone should follow to know when to take profits safely and understand more about technical analysis:
💥 Price exceeds 105 but the H1 candle has a long wick, closing below resistance.
💥 Volume does not increase or volume breaks out but RSI decreases (divergence)
💥 RSI on H1 and H4 both weaken after the pump.
---->> Specifically, if it happens:
Price touches 105.3–105.5 then sharply pulls back below 104k.
If it breaks below 102.8, it may go back to test the deep area of 100.5–101
--->> Everyone applies this to other situations to know when watching the chart. G always says to consider the price at the points when the price moves is the CLOSING PRICE OF THE CANDLE for that reason. Wick sweeps are only used to determine bottoms/tops.
💥 Note: I only write personal opinions for everyone to follow, so you have more information and a reference perspective. This is not investment advice, and there's no group or link to copy from, everyone!!!
