I thought it's a bull trap but there will not be a leverage of 30% for bulltrap and I have decided to invest back into crypto and infact cashed in once it crossed $42k. What's your take on Bitcoin price?
The rise is one of the possibilities that could happen once the price had touched stagnancy, it is good thing that the price is going up and the support for bitcoin is building up again, though I consider that it should be supported more when the price is dropping.
It may or may not be a bulltrap. If you are selling, do it already and wait for further movements. If you are looking to buy, you missed out on the opportunity of buying at low and hence dont buy. This is the best advice one can give during a suspected bull-trap.
However, it will be worth watching how bitcoin turns this week because although many are expecting a bullrun to start and hit 50k USD again, I think there is always a chance for it to go down too, support at these levels have been tested few times and it will be worth watching and placing some quick orders.