Bitcoin ‘bull trap’ forming as bear market enters middle phase: Willy Woo
On-chain analyst Willy Woo said Bitcoin’s current price range likely hasn’t bottomed yet, warning that the market could see further downside before a true cycle low forms.
Bitcoin could experience a short-term rally that catches investors off guard before the broader downtrend resumes, according to on-chain analyst Willy Woo.
“Bull trap forming,” Woo said in an X post on Saturday, referring to a fake breakout suggesting that the market is entering a sustained uptrend. He added that it may last “out to [the] end of April.”
Woo said his outlook is based on liquidity conditions rather than price levels. “If capital comes back in force with the right type of long-term investors, then I’ll happily change my views,” Woo said.