Business
Weekend bull trap? Traders remain cautious as Bitcoin price rebounds to $18K – Cointelegraph
The price of Bitcoin rebounds above $18,000 but traders remain fearful that a bull trap might be forming
The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTCs weekend rally.
Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.
BTC/USDT 4-hour chart (Binance). Source: TradingView.com
Why a bull trap for…
