The market has taken an interesting turn for crypto investors over the past few days. Bitcoin (BTC) recently made a strong comeback above the $100,000 level, raising hopes among investors that a new bull run may be about to begin. But market volatility and technical indicators suggest that this surge could be a bull trap, a false surge. For now, Bitcoin’s next move will determine how long this rally will last and whether it is sustainable.
Bitcoin Returns to the $102,000 Level A New Ray of Hope
According to crypto analyst Lennart Schneider, Bitcoin is showing signs of early bullishness. In a post shared on X (formerly Twitter), he explained that BTC has rebounded from recent lows to above $102,000, indicating renewed buying interest in the market. This recovery comes after a period of weakness, suggesting the market is now trying to stabilize before its next major move.
According to Snyder, if Bitcoin forms a higher low near $101,400, it could strengthen bullish signals and mark the beginning of a sustained rally in the market. However, if this level is broken, it could still indicate selling pressure. Therefore, this level is considered extremely important for the coming days.
Snyder also stated that he is monitoring shorter-term charts to take advantage of short-term buying opportunities if a reversal occurs near $101,400. This strategy could be beneficial for active traders who want to profit from short-term movements.
$104,700 becomes a crucial level
Technically, the $104,700 level now poses the next major resistance. If Bitcoin breaks this level, it could propel the rally to $107,500, signaling that bulls are regaining control of the market. However, Snyder cautioned that trading volume is lower during the weekend, making sudden fluctuations or fake breakouts more likely.
Experts Warn Is This Just a Bull Trap
Another market expert, Ted Pillows, noted in his latest update that Bitcoin made a sharp recovery after briefly falling below $100,000. This short-term move indicates a strong tug-of-war between buyers and sellers in the market.
Ted believes this recovery could also be a bull trap. He added that while Bitcoin has rebounded sharply, the underlying momentum still appears to be bearish. Therefore, investors should be cautious before considering this rally a sustainable trend.
Ted also added that until Bitcoin convincingly crosses the $105,000–$106,000 range, the likelihood of a decline remains high. If BTC fails to break through this key resistance, the market could revisit the support level of $93,394. This means that uncertainty remains in the crypto market for the time being, and hasty decisions could prove detrimental.
Bitcoin’s recent surge has certainly sparked renewed hope among investors. However, it’s also true that the market hasn’t fully stabilized yet. The $105,000–$106,000 levels in the coming days will determine whether this rally will last or is merely a temporary surge. Technical signals indicate the market remains vulnerable, and investors should remain cautious.
Disclaimer: The information provided in this article is for general informational purposes only. It does not constitute investment advice. Investing in cryptocurrencies can be risky, so consult your financial advisor before making any decisions.
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