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Analyst Calls Bitcoin Surge a “Bull Trap”, Predicts Further Drop By CoinEdition


© Reuters. Analyst Calls Bitcoin Surge a “Bull Trap”, Predicts Further Drop
  • Cryptocurrency analyst says the bears are in the denial stage and the market is being manipulated.
  • He predicts that price will drop further into the panic stage.
  • Other opinions suggest that the market is already in the anger stage and preparing for a rebound.

A Twitter character with the identity IncomeSharks has offered an opinion on the current cryptocurrency market situation. IncomeSharks joins other analysts trying to predict how the next phase of Bitcoin price will develop. According to the Twitter account handler, the bears in the Bitcoin market are currently at the “Denial Stage”. He implied that the current price rally is a bull trap and a manipulation, notably saying that a panic stage will follow.

IncomeShark’s tweet was accompanied by a pictorial illustration using an analysis sheet from the Wall Street Cheat Sheet.

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