BTC, ETH, BNB, SOL, ADA, XRP, DOT, DOGE, AVAX, SHIB

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The crypto markets and the global equity markets staged a strong recovery on Nov. 29 in spite of the uncertainty from the newly discovered Omicron variant of COVID-19.

Long-term investors seem to view the recent dip as a prime buying opportunity. A recent filing by MicroStrategy showed that the firm purchased 7,002 Bitcoin (BTC) at an average price of $59,187. That boosted MicroStrategy’s total stash to 121,044 Bitcoin, bought at an average price of about $29,534 per coin.

Daily cryptocurrency market performance. Source: Coin360

However, analytics resource Material Scientist, cited order book data, said “a lot of Bitcoin liquidity has been taken” and warned that “stop hunters” may attempt to shake out the weak hands with a fall.

Is the current recovery a bull trap or is it the start of a sustained relief rally? Let’s study the charts of the top-10 cryptocurrencies to find out.