#BTC bear trap? 👁
Bitcoin is correcting from the descending line, which was obvious. This coincides with testing an important broken zone - 110800.
Why? As usual, we are waiting for unemployment data today. A negative scenario is being priced in advance, and traders are exiting to avoid the risks of a sharp decline.
The important thing is that the day closed above the descending trendline. Accordingly, short positions are being built up for a squeeze in the evening. I could be mistaken, of course, but it looks exactly like that.
If the unemployment data comes out positive or neutral, then a candle upward will start to play out, possibly even sharply. Unemployment is the cornerstone for the Fed.
In case of manipulation and a squeeze down, I still hold a limit order at 105880.
