Bitcoin has knocked out the weekend trading slightly up but has still been unable to move above $4,000. Bitcoin has been able to move consistently for several days. Few analysts assume the price might fail to raise above $4,000, which will likely lead to sustain future losses.
At the time of writing, Bitcoin is trading down by 0.06% at its current price of $3,942. Since the beginning of the week, BTC has been able to hold steady above $3,900.
On march 9, 2019, BTC fell sharply to lows of $3,880 before quickly surging to its current price levels. This price action may signal that the crypto has established the upper-$3,800 as a level of relative support.
Although, Bitcoin has been steadily climbing over the past several days, analysts still expect the cryptocurrency to suffer greater selling pressure in the future.
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https://coinpedia.org/news/btc-bitcoin-price-analysis/Bitcoin has been stable for a week with a price range of 3.8 to 3.9 after that bull trap last month. Prices are playing up and down for a week now and yet you think Bitcoin would just end at $4k without valid support on why would it happen?
We may see this price for a month I guess if there is no bigger news have to come up and make the price move according to FUD or hype.
I wouldn't say the last month's rise is a bull trap, perhaps there was really no momentum to push and broke the $4200 price resistance so obviously, investors didn't wait that long and just started to sell some and then followed by some panic traders causing the price to go $38++ at the lowest. And then the cycle repeats again this past 2 weeks, attempting to break that psychological barrier of $4000. It can be broken but I don't think we will have momentum because there's no news whatsoever so make another push so for me the cycle will repeat over and over again unless there are positive news.
