How To Avoid The Major Trap That Bitcoin Is Setting Up For Traders

The daily chart shows Bitcoin building an ascending channel from the February low, with a sequence of higher lows forming across March up until the time of writing. This type of structure can look constructive at first glance because each major pullback has held above the previous one.

Therefore, avoiding the trap means not treating the first bounce as proof of recovery, as the Bitcoin price can still produce a short-term rebound to as high as $75,000 in the weak structure.