Bitcoin Faces Potential Rally Trap As Smart Money Silently Reaccumulates — De...
A recent on-chain evaluation has been published, which suggests that Bitcoin may be entering into a classic deceptive phase in its market cycle, a dynamic that poses a trap for potential market participants expecting a straightforward price recovery. Related Reading: Historic Downturn: Bitcoin Nears Worst Weekly Performance In Over A Year ‘New Whales’ Capitulate, But […]
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Bitcoin price hit $19,469 for the first time since December 2017, but there are crucial factors that might prevent BTC from hitting a new all-time high. The price of Bitcoin (BTC) hit $19,469 on Coinbase, reaching its highest point since its December 2017 peak. Although the dominant cryptocurrency is close to surpassing its record high, there are some warning signs to take note of.Three potential reasons Bitcoin faces the possibility of a pullback at $20,000 are a bull trap, overhead resistance and an overcrowded derivatives market.BTC/USD 15-minute chart. Source: TradingView.comA....
Bitcoin price is on the rebound, but after such a sharp fall and more than 50% retracement, any reversal must be considered a potential bull trap until much higher prices are reclaimed. Further adding credence to the theory of a potential bull trap, a trend strength indicator very clearly shows that bears are in charge, […]
Bitcoin is struggling as the price loses the $80,000 level and the market faces a wave of selling pressure that has erased the confidence built during weeks of recovery. The breakdown raises an immediate question that a CryptoQuant report has now answered with uncomfortable precision: what was actually driving the rally that carried Bitcoin back […]
The price of Bitcoin reclaimed $18,000 but traders remain cautious of a weekend bull trap. The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTC’s weekend rally.Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.BTC/USDT 4-hour chart (Binance). Source: TradingView.comWhy a bull trap for....
Ethereum has flipped bearish following the market’s reaction to the Federal Reserve (Fed) meeting, but its price remains firm above the $2,100 level. Given the bearish conditions, the market dynamics of ETH are starting to shift as key metrics signal a possible liquidity trap ahead at current levels. An Ethereum Liquidity Trap Signal Emerges After […]