Is Bitcoins Surge a Bull Trap or the Beginning of a New Rally What Lies Ahead for the Crypto Market

**Story Highlights**

Bitcoin’s recent surge has exceeded expectations, presenting two possible scenarios: a bull trap or the start of a sustained rally.

Expect potential consolidation or “chop” between $70K and $90K in the coming weeks, which could indicate either distribution or preparation for further gains.

A pullback on BTC could offer promising long opportunities on altcoins, with more specific trade ideas to follow based on BTC’s price action. Presenting one of the two possibilities, the crypto analysts mention that the current price surge of Bitcoin could be a bull trap. If this proves correct, the price of Bitcoin would not be able to remain in the present range for long and would fall back to a lower range.

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In contrast to the aforesaid possibility, he also presents an optimistic view, emphasizing the potential for the BTC price to consolidate between $70K and $90K. If the second scenario plays out, the consolidation would form a strong foundation for further growth in the market, aligning with a bullish Bitcoin price prediction.

While I still don’t believe this is the impulsive move that most believe it is—$BTC has gone quite a bit higher than expected which changes things a bit on my end from a trading perspective.

Really only two ways about this atm:

1. This is a massive bull trap
2. We keep…— CrediBULL Crypto (@CredibleCrypto) November 12, 2024

**BTC Market: What to Expect in the Coming Weeks**

Regardless of the nature of the present price surge in the BTC market, CrediBULL Crypto asserts that in the next few weeks, the price will remain within the range of $70K and $90K. The crypto analyst claims that this period of price fluctuations will confirm the direction of the future movement of Bitcoin.

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**Also Read:**
What’s the Current Situation of the Crypto Market Ahead of the U.S. CPI?
Altcoin Trading Opportunities During BTC Consolidation

The cryptocurrency analyst suggests that during the predicted BTC consolidation, there may be opportunities for lucrative long trades in the Altcoin market. The analyst states that he has a plan to explore these opportunities. In conclusion, CrediBULL Crypto expects BTC to consolidate in the coming weeks, with altcoin trading opportunities emerging during this period.

**Tags** Altcoins Bitcoin Price Analysis