Mags

This was the Biggest Trap in #Bitcoin 🚨

Back in January 2023, when BTC bounced from $15,500 to $23,000, we saw a Death Cross on the weekly chart, which has never happened before.

The sentiment turned super bearish Many speculated that the pump was a 'dead cat bounce' predicting price to drop back below $15,500, possibly even reaching $12,000.

However, it turned out to be a massive trap. Instead of dumping, the price broke out above the 50 & 200 WMAs, continuing its upward momentum and currently sitting at $36,500.

Also, the Death Cross is about to get invalidated, and both the WMA's have come really close which means we can expect a Bullish Golden Cross in the coming months.