Analyst Calls Bitcoin Surge a “Bull Trap,” Further Downside Expected by CoinEdition

© Reuters. Analyst describes Bitcoin’s rally as a “bull trap”, and expects further declines
  • Cryptocurrency analyst says bears are in denial phase and the market is being manipulated.
  • He expects the price to drop further in the panic phase.
  • Other opinions suggest that the market is already in a rage phase and is preparing for a recovery.

A Twitter personality with the identity of IncomeSharks provided an opinion on the current situation in the cryptocurrency market. IncomeSharks joins other analysts trying to predict how the next phase of the Bitcoin price will develop. According to the handler of the Twitter account, the bears of the Bitcoin market are currently in the “rejection phase.” He hinted that the current price hike is a bull trap and manipulation, in particular saying that a panic phase will follow.

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

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