Bitcoin (CRYPTO: BTC) dropped below $70,000 on Friday morning after the U.S. economy unexpectedly shed 92,000 jobs in February, and macro analyst Benjamin Cowen warned the March rally was a textbook bull trap that may now be over.What HappenedNonfarm payrolls came in at negative 92,000, far below the 59,000 consensus and a sharp reversal from January’s revised 126,000 gain. Unemployment rose to 4.4%. The SPDR S&P 500 ETF Trust (NYSE:SPY) fell below 6,800 as oil headed for its biggest weekly gain since the e ...

⚡️ INSIGHT: Bull and bear traps are everywhere in crypto’s 24/7 markets.Here’s how to spot them, use confirmation, not hope: Wait for retests, read leverage signals, and avoid chasing thin, off-hour moves.Full story:https://t.co/SzFNUGW1Ez ...

Market Performance & Key Levels - S&P 500 is approximately 4% above its pre-tariff sell-off high from February [1] - Dow Jones Industrial Average and MAG 7 have returned to their previous highs but haven't exceeded them [2][4] - S&P 400 Midcap is lagging, sitting about 5% below its previous high [3] - S&P 500 equal weight has recouped its losses and is at former highs, identical to the Dow and MAG 7 [4] Midcap & Equal Weight Performance - Since its launch on June 19, 1991, the S&P Midcap has significantly outperformed the S&P 500 [5] - The S&P 500 equal weight has also outperformed the S&P 500 [5] Critical Juncture & Potential Outcomes - The current week is crucial for indices to either break out to new highs or potentially form a double top [2][6] - A failure to break out could indicate a normal dip, drawdown, sell-off, decline, or drop [6] - A breakout requires clearing the former high by approximately 35% to 4%, and sustaining above that level [8] Confirmation of Breakout - A confirmed breakout needs to clear the former high by a certain amount, typically 35% to 4% [8] - Sustaining above the former high is crucial to avoid a double top or bull trap scenario [8]