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Analyst Calls Bitcoin Surge a “Bull Trap”, Predicts Further Drop

Published 01/22/2023, 06:25 AM
Updated 01/22/2023, 06:30 AM
© Reuters. Analyst Calls Bitcoin Surge a “Bull Trap”, Predicts Further Drop

  • Cryptocurrency analyst says the bears are in the denial stage and the market is being manipulated.

  • He predicts that Bitcoin price will drop further into the panic stage.

  • Other opinions suggest that the market is already in the anger stage and preparing for a rebound.

A Twitter character with the identity IncomeSharks has offered an opinion on the current cryptocurrency market situation. IncomeSharks joins other analysts trying to predict how the next phase of Bitcoin price will develop. According to the Twitter account handler, the bears in the Bitcoin market are currently at the “Denial Stage”. He implied that the current price rally is a bull trap and a manipulation, notably saying that a panic stage will follow.

IncomeShark’s tweet was accompanied by a pictorial illustration using an analysis sheet from the Wall Street Cheat Sheet.

Latest comments

no body can do anything if it is a bhull trap all crypto holders r in loss so hold till u win
Investing.com ediyors, does this comport to the journalistic standards for Investing.com: "A Twitter character with the identity IncomeSharks..." That's not an identity, that's a pseudonym behind which anybody with any self-interested motive could be hiding.
Who cares about some random dope with a twitter account?
Analyst should note that BTC price is tied to the outcome of Russia Ukraine war.. On the days when NATO supplies weapons and oil to Ukraine and Russia suffers high casualty, BTC price goes down. So on Monday if NATO decides to supply German tanks to Ukraine then Bitcoin price will drop. I think war will continue for some time, it won't end unless Putin steps down or Zelensky is killed in Russian missile attack.
Has nothing to do with it. Putin will hang for his war crimes. He is threatening to use WMDs if Ukraine gets tanks. That would be the end of him.
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