$BTC
Alert from bullish trap 🚨**
The price of Bitcoin rose from $84,000 to $87,000 during the early Asian trading session on Monday, a period that usually sees decreased trading activity. Despite this rise, the Relative Strength Index indicates a state of overbought conditions, and whale tracking platforms have detected massive buy and sell orders for both Bitcoin and Ethereum within minutes. Low trading volume but strong price action? This may be a clear example of **liquidity harvesting** - where large players are closing their short positions before flipping them into targeted long positions.
No major news from the Federal Reserve or ETF updates to justify this move, suggesting it may not be a natural rise.
**If you are trading, stay alert:**
- **📈 Long positions**: If you are already riding the wave, consider taking profits in batches and watch for a good exit.
- **📉 Short positions**: If you are not heavily in debt, you are likely fine. Returning to around $83,000 is a reasonable target.
- **💎 Bitcoin holders**: If you are looking for long-term investment, hold onto it. Bitcoin could potentially reach over $120,000, but **this is not the time*$BTC
