$BTC Bitcoin sharp fall triggered a classic bull trap!
Just a few hours ago, a sudden drop from intraday highs near $106K down toward $103K caught late buyers off guard. This rapid retracement echoed patterns identified in recent technical reports, where BTC spiked above key resistance but failed to sustain momentumđ§
Early signs pointed to a "soft reversal"âfunding rates remained positive, yet open interest was falling, signaling leveraged longs being killed!
Similar fractal warnings had emerged, hinting at a pullback beneath the $105Kâ$106K range, and thatâs exactly how it played out.
The rapid price bounce drew in FOMO-driven buyers, only to be trapped as sellers reclaimed controlâtextbook bull trap behavior well plannedâŠ
Analysts now warn that without reclaiming and holding above $108K, this may be the start of a deeper correction, possibly revisiting support near $100K or 74k laterâŠ
For traders, the lesson is clear: these sharp intraday rallies can deceive. The prudent move is to await confirmationâlike sustained breaks above $108Kâor focus on buying dips with strong support from technical indicators such as Bollinger Band re-crossesâŠ
The few-hours-ago plunge wasn't just a flash crashâit was a strategic bull trap in motion.đ«Łđ