With Bitcoin playing safe close to $50,000, is it going to be a bull trap or a bull run
ambcrypto.comBitcoin has been playing it safe, close to the $50K mark for the last five days as the larger market’s trajectory looked largely bullish, as the new year approaches. After three short-term recoveries, BTC’s trajectory finally managed to make higher highs with the price safely above the $50K mark.
Nonetheless, with low retail euphoria and overheated futures market whether the recent trajectory is in fact a bull run or a mere bull trap before the year closes, is still a matter of debate.
Bitcoin’s price seemed to be approaching its upper limit after the recent rally from $45K to $51K over the last four days. On December 24, BTC was retesting the 21 Week Moving Average (WMA) after a bounce from the 50 WMA on 21 December.
Source: Trading View
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