It’s a bull trap! 3 key metrics forecast Bitcoin price rejection at $11K

Traders are usually skeptical as Bitcoin (BTC) approaches key resistances, and there was no exception as the price added 7.7% to attack the $11K level.  

Not every rally will shift technical indicators to overbought levels, but there is usually some gain in volume and futures contracts sentiment that may transition from neutral to bullish. Derivatives markets are especially sensitive to trend changes due to leverage.

Yesterday, as Bitcoin price closed in on $11K, Cointelegraph cautioned that…


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