How Would The Crypto Market React To The Recession That’s Brewing Is The Crypto Bullish Formation A Bull Trap

With the trend of recession looming, the question is what will be the outcome of the crypto currency market, the data dash host is saying that the current bullish run is a bull trap for investors says that it’s likely be as the three relief that we witnessed couple of months back.

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Nicholas Merten during the session says that;
I want to go ahead and emphasize the percentage increase [as well], and not to mention a very similar time frame. We’ve had a 46% relief rally, 43% back between June to August, and since November towards January, we’ve had a 40% move in Bitcoin’s price. Now, this is getting to the typical percentage increase that we got during relief rallies and again, I just want to signal that caution.

Not to mention with how overbought we are at the moment, this is the highest we’ve gotten overbought on Bitcoin’s price since as far back as January 10th of 2021.

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