Weekend bull trap? Traders remain cautious as Bitcoin price rebounds to $18K

The price of (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTC’s weekend rally.

Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.

4-hour chart (Binance). Source: TradingView.com
Potential Bitcoin bearish and bullish scenarios. Source: Crypto Capo

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