Bitcoin price is now over $13,550 and only a few hundred dollars away from setting a higher high and confirming a bull market. But also right around the corner, according to one top crypto analyst, is a “hell candle” in Bitcoin that will crush the cryptocurrency’s recent rally and potentially cause a reversal.
Beware Of Bitcoin Hell Candle If Leg Up Continues
Bitcoin and other cryptocurrencies are wildly volatile and experience extreme price swings in either direction and can behave unpredictably.
Even when assets are trending hard in one direction, it isn’t uncommon for out of nowhere a reversal and a strong move in the opposite direction to occur.
Related Reading | From Short To Euphoria: Data Says Bitcoin Market Sentiment Is Rapidly Changing
According to crypto analyst and trader Cole Garner, a “hell candle” is coming in Bitcoin. Garner shares a chart with an indicator that appears to forewarn the trader when the cryptocurrency is about to rug pull investors and liquidate traders.
Garner points to two prior instances, both that arrived after the first-ever cryptocurrency reclaimed a key resistance level as support.
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