Thursday, August 4, 2022

Was The Recent Crypto Rally A Bull Trap?

Was The Recent Crypto Rally A Bull Trap?
 
 

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Hi Crypto Academy Network,

After three consecutive negative monthly closes, Bitcoin made a comeback in July with a 16.8% gain, according to Coinglass data. In comparison, Ether had much better performance as it rallied more than 56% during the same period.

Bitcoin reversed direction from $20,715 on July 26 and rose above the ascending channel on July 28. However, the bulls could not build upon this advantage and sustain the higher levels. This indicates that bears continue to sell on rallies

KEY TRADING LEVELS

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XRP TRADE
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BTC TRADE

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it is a well-documented fact

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