Bitcoin Price Low-Volume Bounce Raises Bull Trap Concerns

Bitcoin price low-volume bounce raises bull trap concerns

Bitcoin price has bounced from key support near $60,000, but weakening volume and growing resistance overhead are raising concerns that the move may be a bull trap rather than a sustainable recovery.

Bitcoin Technical Analysis February 9: 19% Friday Bounce Holds $69,000 – Bullish Recovery or Trap?

After a steady fall in price from Wednesday onward, a massive recovery took place on Friday. A 19% bounce from a bottom of nearly $60,000 took the price all the way back up above the $69,000 major support. This has held over the weekend, but could the price now fall back down and trap all the bulls?