Is Today’s Bitcoin Rise A Trap?

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Bitcoin has rebounded after drawing a horizontal chart for almost 3 days today and has reached levels of $ 9,900 within minutes. Although this rise of BTC gives some investors the impression that it will rise above $ 10,000 again, the increase effect of the price was very short.

BTC / USD parity, which reached up to $ 9,900 on some crypto exchanges, started to experience a sharp decline later and went down to below $ 9,700 according to the press time. But has Bitcoin really experienced a natural uptrend and can this continuation continue in the coming days?

Majority of Investors Awaiting Rising in Bitcoin
Looking at the futures on BitMEX, Bitfinex and Binance Future, it is seen that 77.51% of investors open long, or bullish, positions. This suggests that whales may have set up a bull trap and may aim to increase the number of long positions with a false rise and explode them all at once.

Similar situations have occurred in the days when Bitcoin rose from $ 8,500 to $ 10,085 in just 4 days, and BTC had caused a lot of losses for investors. In addition, it is seen that the region between $ 9,900 and $ 10,000 has been a significant resistance for the last 2 weeks. This suggests that the BTC achieved a significant 5% increase in such an unexpected moment may be related to whales.

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