Bitcoin Technical Analysis: BTC Still Remains In A Strong Bear Trend (April 2020)

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Bitcoin Technical Analysis: BTC Still Remains In A Strong Bear Trend (April 2020)

Bitcoin has eventually made that fake out that we talked about in our yesterday’s analysis. People are predictable, especially in this market. So, when BTC/USD climbed past $6.6k again, many traders entered aggressive short positions hoping that the market would decline again. That created a honey pot for the whales and market makers and the manipulation that we saw yesterday was about hitting that honey pot and liquidating a large number of those bearish positions. This is not the first time that we have seen this and it will certainly not be the last. -

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