It’s been projected that the current bullish movement which is seen is a trap for investors, a crypto analyst who goes by the name Nicholas Merten says that investors are making a wrong decision by pilling up bitcoin that it's very possible that the primary digital asset will see a decline in price.
He said instead of just waiting for price to remain above the 200-week and find support there, people are already going ahead and chasing it.
Where have we seen this before? It’s exactly what happens, the same exact supply zone or resistance range that we found ourselves in back in August, just maybe slightly higher to get people enticed, to get people excited, breaking above the price action in August, breaking slightly above that 200-week a couple of times, and not being able to actually formulate support.
But again, the investors aren’t waiting for it. They are not waiting for that 200-week support. They’re going ahead and buying in right now. And that’s the big mistake that everyone’s making because that is a liquidity trap, Classic 101 example of how market investors or more specifically institutional investors can trick retail traders and take advantage of that output side pressure in order to serve as exit liquidity for positions.
If you see this post on a Web2 ecosystem and you have no clue about what Leofinance I ioo o I is here is a brief definition;
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
Over here we refer to users as lions, so are you ready to be a lion here is my referral link
Also don’t forget in contributing to the pHBD-USDC pool, and from statistics it looks like we will be able to archive the set target in a few months, let’s do our own part in h growing the pHBD-USDC liquidity and also take out time to participate in the Leo power up challenge which happens every 15th of each month.
Let’s also connect on some of the web2 platform.
Twitter:Hironakamura