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Bitcoin has surpassed $73,000, but there are increasing voices in the market warning about a bull trap. The current price has risen to around $81,000, but traders don't seem to fully believe it.
In such times, there's a risk of a sharp reversal even with a short-term rally, so avoiding getting caught in a bull trap is important. Especially large traders are probably watching the selling pressure at this level.
Market sentiment is cautious because many people have experienced losses from bull traps before, so they are being careful this time as well. It's not just about short-term gains; whether the price can break above resistance and reach new highs is crucial. Distinguishing whether it's a bull trap or a genuine upward trend is a challenging situation.