“Biggest Bear Trap Ever”: Analyst Predicts Ether Will Fake Out Bears Before Soaring to New Highs

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Get ready for a potential fake-out. Analysts are predicting that Ether could be setting up for a massive bear trap in September, designed to “spook everyone” before a powerful rally.

According to crypto trader Johnny Woo, the charts may paint a deeply bearish picture next month, potentially forming a head-and-shoulders pattern that triggers a sell-off to around $3,350. But this move is expected to be a trap for pessimistic traders.

Woo believes the pattern will completely invalidate itself in October—a phenomenon known as “Uptober”—forcing those who sold to buy back at higher prices and ultimately fueling a push to a new all-time high by November.

History supports the possibility, as a similar 30% drop in September 2021 preceded ETH’s last record high.