Traders who had positioned themselves with that level as their line in the sand were stopped out. However, that wasn’t the end. In both cases, the fakeout breakdown arrived in the middle of that journey, not at its end. BTC reversed course and then went on a rally that broke into new all-time highs.
Watch Out For A BTC Trap Bitcoin’s current position makes the setup more sensitive because the cryptocurrency is currently trading around the $80,000 level. This area has become a technical line that traders are using to judge whether the recovery can continue.
