Analyst warns of a Bitcoin bear trap before the spike
Bitcoin (BTC) crashed below the $55,000 price level in what some analysts believe is a bear trap. If these analyses play out, the leading cryptocurrency could soon revert its downtrend into a bullish outlook for new highs. One of these technical analyses examines a bull diamond chart pattern shared yesterday on TradingView by The ForexX Mindset . This formation usually appears after a prolonged downtrend and marks a key moment for a possible reversal. According to the trader’s Analysis , Bitcoin now shows a bullish diamond in the three-day price chart, but there is more. The ForexX Mindset warned of a bear trap that would appear before the reversal could play out. Picks for you Can the markets avoid a recession? 44 mins ago R. Kiyos...