👍👍Bitcoin's Epic Bear Trap: Unprecedented Bullish Signal Arrives on the Weekly Chart! 👍👍
A seasoned crypto analyst has spotted a bullish signal that hasn't been seen in Bitcoin for a long time.
Bitcoin has caught the attention of investors by breaking the $62,000 level for the first time since August 3. This rapid increase has forced futures traders to reconsider their positions.
Crypto analyst Matthew Hyland noted that a major bullish signal is observed on Bitcoin's weekly chart:
Bitcoin has formed a massive green weekly candle with a large wick. This candle is now turning into a major bullish signal on the weekly time frame.
It Could Be the Biggest Bear Trap
Offering a different perspective, cryptocurrency investor Byzantine General evaluated the declines experienced on August 5 as the biggest bear trap in history:
This week has been really crazy. Maybe the biggest bear trap I've ever seen.
Bitcoin, which gained 3% in the last 24 hours, is trading at $61,000 at the time of writing.
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