What is a bitcoin bear trap and how does it affect the cryptocurrency market?

1 answers

• Nov 24, 2021 · 3 years ago
  At BYDFi, we've seen our fair share of bitcoin bear traps. They can be frustrating for traders who get caught on the wrong side of the trade, but they also present opportunities for those who can spot them early. When a bear trap occurs, it's important to stay calm and assess the situation objectively. Look for signs of a potential reversal, such as a sudden increase in buying volume or positive news in the market. By staying vigilant and keeping a cool head, you can navigate the bear trap and potentially profit from the subsequent price rally.
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