It looks like your analysis is very correct and it is even worse than the current situation. BTC prices have not been able to rise in the last few days and probably will be a panic phase from all investors. Personally, I just hope BTC price can recover again because I am very confident in this market
Chart analysis is really amazing and this is what charts can bring to us and for sure if you master this thing you will be more profitable. Yes the price of bitcoin are still stack around $6k level but I know this will not last until September, another hype will be created and this market will pump again.
it was a very good increase, and even though currently the btc has experienced a price decline again I don't think that will be too much of a problem, because we have to believe prices will recover again.
This chart proves that we experienced a bull trap before and now we are in a bear trend, but yeah this market will recover no matter what, buy good coins for good.
Bull trap is not important for me as long as btc sustains above $5800 because I've bought at this price but altcoins get worse.