⚠️ Don't Be Fooled by Bitcoin Price Drops: Be Careful of the Bull Trap! 🐂✨
If you are considering buying Bitcoin now after the recent price drop, think again – you may be falling into a trap set by big players looking to profit from your liquidation. While Bitcoin could see a temporary increase, possibly to $67,300, it may just set the stage for the bloodiest bull trap ever witnessed.
Currently, there is a fierce battle at important levels:
- Volume level: $64,120
- EMA 200 (4H TF): Price is consolidating below $63,984 for the 8th candle on this time frame.
- EMA 50 (Daily TF): Critical resistance at $63,899, the most important of the three mentioned resistance levels.
Bitcoin is showing signs of being locally overbought and whether it breaks or holds these resistance levels will determine its next move. Additionally, it is important to note that BTC futures trading on CME will continue overnight, closing Friday at $63,365 – a magnet price to start trading.
As we enter the new week, be cautious and do not succumb to provocations. Be alert and protect your assets as a storm may be approaching... ⛈️🛡️