BTC Stop Hunt

BTC has been trading in an ascending triangle for a couple weeks now

This pattern is identified by higher lows and equal highs

Traders see this pattern and start seeing the highs as resistance, so they start shorting and putting their stop losses right above this line

These stop losses usually get wiped out with a quick wick like in the pic above - this is a stop hunt

But what's a loss to some, is an opportunity to others

Price will either bounce or go even lower, so depending on what happens I will adjust my trade accordingly