Greed

Bitcoin

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<p dir="ltr">Bitcoin (BTC), the top cryptocurrency by market cap,&nbsp;<a href="https://www.coingecko.com/en/coins/bitcoin">managed</a> to reclaim the much-coveted $70,000 level earlier today, peaking at $70,230.&nbsp;</p>
<p dir="ltr">It is up 2.4% over the last 24 hours, currently trading just below the aforementioned level.&nbsp;</p>
<p dir="ltr">However, it is worth mentioning that $70,000 is a formidable resistance level that bulls have repeatedly failed to crack. At press time, the top cryptocurrency is changing hands at $69,704 after giving up some gains.&nbsp;</p>
<h2 id="a-bear-trap">A bear trap?&nbsp;</h2>
<p dir="ltr">As noted by popular cryptocurrency trader Ali, the TD Sequential, a powerful technical indicator, is&nbsp;<a href="https://twitter.com/ali_charts/status/1777019944309268592">currently</a> showing a sell signal on the four-hour chart. The analyst has predicted "a one to four candlesticks correction" for the largest cryptocurrency.&nbsp;&nbsp;&nbsp;&nbsp;</p>
<p dir="ltr">Bitcoin's failure to gain a foothold above the $70,000 level on Apr. 1 recently led to a sharp correction to the $65,000 level. However, Bitcoin managed to recover from this drop relatively quickly.&nbsp;</p>
<h2 id="extreme-greed">Extreme greed&nbsp;</h2>
<p dir="ltr">According to the Fear &amp; Greed Index, which measures Bitcoin sentiment on a daily basis, the largest cryptocurrency has once again succumbed to "extreme greed." This implies that the market is showing signs of froth following a short-lasting correction.&nbsp;</p>
<p dir="ltr">The bulls' latest attempt to crush the $70,000 resistance level comes ahead of the much-anticipated halving event. The event is just 11 days away, and many expect the market to become even more torrid due to growing mainstream media coverage.&nbsp;</p>

Bitcoin (BTC) Price Surges Back Above $70K. Is This Another Bull Trap?

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