Youtuber and cryptocurrency analyst Nicholas Merten suggested that the Bitcoin (BTC) rally could be a new bull trap, considering the previous two bull traps.
Nicholas Merten January 18 In the broadcast he made on the official Youtube channel, the bull trap in Bitcoin that lasted from the end of January to the end of March 2022 47% It ends after an uptrend and is approx. 3 months another bull trap that started after 43% indicated a rise. Analyst each two bulls average of the trap 45% the value gain in the current rally, underlining that it ends after a value increase. to 40% reached and be careful stressed the need.
Stating that the technically available data are sufficient to create a meaningful set, the analyst basically made the following statements:
If you think that the risk assets markets have an impact on Bitcoin assets, it may be good for your investment decisions to know that there have been large exits from the general risk assets markets recently.
The analyst is a possible recession along with stocks during the period bitcoin crypto money market, including will be affected expressed. Merten, between the cryptocurrency market and traditional risk assets markets. the correlation is broken until this assumption act within the stressed the need.
