The post Bitcoin To Rally Towards $72,000 Soon! appeared first on Coinpedia Fintech News
The free fall of bitcoin has finally stopped and the fear from the market has started to drop. RSI is showing improvement and there are other indicators that are signaling a recovery. But, has BTC really started to recover or this is another trap, let’s explore.
The Bull Trap
The crypto community had grown too much confidence for a bull rally in the closing days of September. Everyone was so excited for the Up-tober that it became a bull trap and bitcoin crashed. If we check the history this keeps repeating every cycle. Once China banned Bitcoin mining, in another cycle Russia started a war over Ukraine. All such events coincided at the same time when the community was ready for a bull run. Same happened this time and caused btc to crash to $60,000. But now btc seems to be recovering.
The Pain on Charts
Looking at the bitcoin chart in the last week, the community has felt intense pai
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