Bitcoin, Ethereum Recover Following Market Rout, But Caution Remains

“Don’t get excited about Bitcoin being back above $20K”. This can be just another bull trap. Nothing drops in a straight line. In fact, this slow-motion crash has been extremely orderly. No sign yet of any capitulation that typically forms a bear market bottom.
Bitcoin and Ethereum price action

At the time of publication, the lead cryptocurrency is up 5.17% after trimming some of the prior day’s gains, trading at $20,570. Bitcoin recouped some of its losses after plunging to as low as $17,599. The second-largest cryptocurrency by market capitalization touched as low as $881 in the sell-off before partly recovering. At press time, Ethereum was changing hands at $1,152, up 9.255% in the last 24 hours. Alternative cryptocurrencies such as Avalanche, Solana, Polkadot, Polygon and Apecoin recorded gains of between 10% and 15%.

Image from Tradingview on June2022

Bitcoin broke a 12-day losing streak on June 19, fighting its way back above $20,000 and leading the cryptocurrency market in a comeback after a record-breaking run of losses.

Investors Should Caution!

“Don’t get excited about Bitcoin being back above $20K”. This can be just another bull trap. Nothing drops in a straight line. In fact, this slow-motion crash has been extremely orderly. No sign yet of any capitulation that typically forms a bear market bottom.

CRYPTO TRADING SECRET TEAM

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