20 percent Bitcoin (BTC) price action could be a bull trap

While the 20 percent rise in bitcoin (BTC) price is undoubtedly impressive, there are analysts who say this may be a bull trap. According to CoinMarketCap data, Bitcoin has gained 20 percent in the last 24 hours. However, according to trader Josh Rager, the bulls still do not come out of the bear forest.

Rager announced that Bitcoin should raise the $ 6,400 level, which is considered a checkpoint. Otherwise, the cryptocurrency king can evaporate all of their recent gains. Yesterday, the bulls tried to exceed the level many times, but after the first successful attempt they were rejected.

https://twitter.com/Josh_Rager/status/1240854969718358018?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener noreferrer

Can Bitcoin Rise?

Bitcoin is trading above the 200-week moving average just a few days before an important weekly close. According to the trader CryptoBirb, if the bulls manage to regain the $ 6,500 level, BTC can easily go up to $ 7,600 because there is little resistance.

https://twitter.com/crypto_birb/status/1240801966508445698?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener noreferrer
Meanwhile, SatoshiFlipper believes that BTC can rise to $ 9,000.

https://twitter.com/SatoshiFlipper/status/1240828170493923328?ref_src=twsrc%5Etfw” target=”_blank” rel=”noopener noreferrer