Wrong Decision In Accumulating Bitcoin As Is It A Projecting A Bullish Trap For Investors

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.

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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.

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