Summary
- On-chain analyst Willy Woo was reported as saying that the recent rebound in Bitcoin prices could turn into a bull trap that lures in investors.
- He was reported as saying that a Bitcoin bull trap may be forming and that this trend could continue through April.
- Willy Woo was reported as explaining that, from a liquidity perspective, the current market structure still has bear-market characteristics and that Bitcoin is still in the middle of a bear market.
Forecast Trend Report by Period
In the Bitcoin (BTC) market, the possibility of a 'bull trap' is being raised following a short-term rebound.
According to CoinMarketCap on X (formerly Twitter) on the 9th, on-chain analyst Willy Woo said the recent rebound in Bitcoin’s price could turn into a bull trap that lures in investors.
Willy Woo said, "A Bitcoin bull trap may be forming, and this trend could continue through April."
He added that, from a liquidity perspective, the current market structure still retains the characteristics of a bear market. Willy Woo explained, "From a liquidity standpoint, Bitcoin is still in the middle of a bear market."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
