The post Bitcoin bear trap over? BTC price fractal hints at parabolic move next appeared on BitcoinEthereumNews.com.

Bitcoin still faces significant resistance at $62,000, and if it breaks, it could liquidate over $845 million of leveraged shorts. Crypto market analysts say the Bitcoin (BTC) bear trap is officially over. Based on historical chart patterns, they are eyeing the next price breakout. A bear trap is a form of coordinated but controlled selling that creates a temporary dip in an asset’s price. It typically comprises a significant correction during a long-term uptrend. The latest correction may have been a bear trap or a shake-out, according to pseudonymous crypto analyst Sensei, who wrote in an Aug. 8 X post: Read more Source: https://cointelegraph.com/news/bitcoin-bear-trap-over-fractal-btc-price-parabolic-move?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound

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Filed under: News - @ August 10, 2024 7:26 pm