BTC’s Ultimate Bull Trap Comes True! Head-and-Shoulders Pattern Unchanged, Keep Shorting! Is the Storage Sector Starting to Bottom?

Yesterday, Chief said BTC was still following the head-and-shoulders pattern, and shorting on the right side was the only thing to do. Longing BTC was never even considered. The market also confirmed our analysis: an ultimate bull trap!

With that in mind, the daily head-and-shoulders pattern in BTC remains in play, and today we can take an early entry based on the large bearish 4-hour candle. The key resistance on the 4-hour chart is 78,900. Only consider shorting at 79,900–80,200 if the price action gets exceptionally ridiculous and frustrating. For now, let’s just wait for 78,900, with a stop-loss range of 600–800 points, targeting a 1:2 risk/reward ratio.

For ETH, resistance is at 2,360–2,380, with frustrating resistance at 2,400. Just watch the area around 2,360.

BTC’s second-stage downside target remains 72,000. Whether it was at 81,000 at the end of October or at 81,000 yesterday, Chief has always told you the same thing: as long as the head-and-shoulders pattern remains in play, only consider shorts. As for longs, wait until the price gets there, then see whether it stabilizes and what the corresponding setup looks like.

For storage stocks, Micron’s 650 level was mentioned yesterday, and the low came in at 650.2. The market makers did us a favor, so now we need to see whether the area around 650 acts as support again or whether it’s a false breakdown. If it holds as support again, watch for a rebound around 660–670; if it’s a false breakdown, enter using the ICT 2022 model.

The short-term outlook for SanDisk is similar: if it retests, watch 810–820. One thing to note: SanDisk and Micron both have equal lows on the 15-minute chart, and with equal lows there’s always the risk of a false breakdown. So don’t act recklessly during the day; it’s best to trade using the 2022 model, and only try a small position on the left side around the 15-minute order block.

In summary: after all that, BTC is still following the head-and-shoulders pattern, so what’s there to fear? Just keep waiting to short. The storage retest could go either of the two ways mentioned above, but a second false breakdown seems more likely. In that case, use the 2022 model to take a short-term position; with luck, it could be the major bottom (the most bullish fantasy🤡).#美股史诗级抛售