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Bitcoin Rejects 'Bull Trap'

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The Bitcoin rally turned out to be a fakeout, as we stressed here in these reports. Hopefully, no reader got caught in the 'bull trap' as we've done our best to warn you. This range has continued and there is nothing to indicate a proper bull rally in crypto on the horizon. Until then its range trading, unless a serious bid comes through in stocks, perhaps. We've given up $30K again, immediately seeking comfort in the $29K's. We are hovering just above our level at $28.8K, with $27.9K sure to hold just below that if needed. The $30K's remain a barrier with $30.2K and $31K likely targets if we do catch a rally, with $32.3K a hard upper bound.

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