#BTCRebound
BTC Alert from a Bull Trap 🚨**
The price of Bitcoin has risen from $84,000 to $87,000 during the early Asian trading session on Monday, a period that typically sees low trading activity. Despite this rise, the Relative Strength Index indicates an overbought condition, and whale tracking platforms have detected massive buy and sell orders for both Bitcoin and Ethereum within minutes. Low trading volume but strong price movement? This could be a clear example of **liquidity harvesting** - where major players are liquidating their short positions before converting them into targeted long positions.
There are no major news from the Federal Reserve or updates on ETFs to justify this move, suggesting it may not be a natural rise.
**If you are trading, stay alert:**
- **📈 Long Positions**: If you are already riding the wave, consider taking profits in batches and look for a good exit.
- **📉 Short Positions**: If you are not burdened by debt, you are probably fine. Returning to around $83,000 seems like a reasonable target.
- **💎 Bitcoin Holders**: If you are looking for long-term investment, hold onto it. Bitcoin could potentially reach over $120,000, but **this is not the right time*
