Topic: Bitcoin Breakout or Fake Out? - page 3. (Read 559 times)
For short term, I do not see a clear indications whether the trend is still bearish or to reverse for bullish. If the trend is still bearish, surely it can be said bear trap but for long term I still see this as good investment while the price is still low.
Bitcoins price suddenly pump. What do you think? is this the start of Bull Run or just a Bear Trap?
there was no "pump". it was a rise. just because price increased doesn't mean it is a "pump".
additionally this was more like a recovery after a hard drop and also because price went below the strong support like at $6000 so it had to be corrected and price needed to come back up. it doesn't indicate any bull/bear run/trap or anything. it is just recovery!
With that said it tells us how hard it is to really talk about the market terms. I was really hoping that this is kind of bull run because of the prices hiking all by 10% upwards. I know the fact that bull run is defined by the price rise of 15% but 10% price hike from the yesterday's movement really got my attention at it. May be there needs some correction surely, but that is also poorly defined term. Many times when bitcoin drops then also we use the term "bitcoin correcting itself", so its pretty awful which one is right and which one isn't.
A +/- 10% increase and decrease in the daily price is not anything new to us, because this is actually normal for Bitcoin. A lot of people are invested in Bitcoin because it is so volatile and you can make some pretty good profits, if you know how to make good use of the volatility. We get exited when there is a fast rise in the price over 30% in 24 hours. 
Go look at the 2017 charts of last year and you will see what I am talking about.
Go look at the 2017 charts of last year and you will see what I am talking about.
It's not a pump, better say a rise in value, or some kind of recovery. It's early to speak about the bull run, but who knows, maybe it is?
Bitcoin was created in order to improve people's lives, bypassing the state and not paying taxes for transactions. Of course, bitcoin is a breakthrough.
Im not seeing it as a trap. Its a bounceback from a big dip. It has been so low for too long. It needs to go back up. Im not saying its a bullrun, i hope it will come to that. It has gone beyond the $6,000 resistance. But for now, price recovery is the best word for it after the huge drop.
We need rebound last months has been depressing. Where the whales at
BTC Fake Out, people have expressed fear, trading volume weakened from the beginning of 2018 to now. I have not seen any signs of recovery for this market.
Bitcoins price suddenly pump. What do you think? is this the start of Bull Run or just a Bear Trap?
Edit:
https://imgur.com/a/0KVGgHI
sorry don't know how to post image, still kinda noob. Also for the terms im bad at it.
trying to learn.
Edit:
https://imgur.com/a/0KVGgHI
sorry don't know how to post image, still kinda noob. Also for the terms im bad at it.
trying to learn.
This is just a speculation of the Bitcoin graph, where it creates a pattern for can reading. if we look at the pattern like that then this is just a trap.
But if we look more broadly, Bitcoin is beyond its resistance and create a new column and if the price can survive to this day then Bitcoin is in the sure will rise again.
that's just my guess, if there's something wrong please understand because I'm still learning.
In my views, during the past days when btc had increased back to $6.4KUSD, I think it was just an ordinary increase and I would not consider it as a bullish market pump. People should refrain from doing a panic sell since it is not favorable to your end. Hold still your bitcoin and wait for the right time when selling it. Just hoping that bitcoin could get back to bull market in the coming weeks. I think why bitcoin had not improve much probably btc had more supply than it's demand.
It is not a breakout yet, we need to surpass some marks to confirm.
If bitcoin rise over $ 12k we are sure that bull trending started again, but currently we are at $ 6k marks yet, some people are waiting $ 4k and $ 3k for bitcoin before bull trend.
If bitcoin rise over $ 12k we are sure that bull trending started again, but currently we are at $ 6k marks yet, some people are waiting $ 4k and $ 3k for bitcoin before bull trend.
Bitcoins price suddenly pump. What do you think? is this the start of Bull Run or just a Bear Trap?
Pump? It's not a pump, the price are increased just a little.
It's a normal movement about the price to fluctuations, we need to wait more time to see bitcoin will recover.
maybe you see it as a bear trap, if bitcoin go to the moon again for this year i think that is not possible, so look later after next halving considering the supply will be very little again it will certainly push the price will rise sharply
Bitcoins price suddenly pump. What do you think? is this the start of Bull Run or just a Bear Trap?
going from a 2018 low of $5800 to $6400 is only ~10%
thats not a pump. thats a normal expectant wave. relax. 10% movemnts happen. just enjoy surfing the 1-10% profits and repeat.
its not worth calling out every 5-10% movement. as you will be posting the same question many times a month/year.
if your a day trader, then yes look at the price hourly/daily and trade the 1-10% waves.. and repeat repeat repeat
if your not a day trader and not interested in trading every day. then dont look at the price every day.
instead just tell yourself your sell price and just set an alert that only tells you it hit, when it hits. then relax and dont think about it
The price of Bitcoin drops sharply and it will have to increase. That is inevitable
What would you call it when the price of the Bitcoin went down to less than $6000? That was a hard fall, or you can call it a hard drop. Which makes it a recovery. Bitcoin just recovered from the sudden fall and it's good news that the recovery didn't take more than a week.
Bitcoin prices suddenly pump. I think bitcoin prices are very difficult to predict. The ups and downs are common.
I hope the bitcoin price can be better than before.
I hope the bitcoin price can be better than before.
Bitcoins price suddenly pump. What do you think? is this the start of Bull Run or just a Bear Trap?
there was no "pump". it was a rise. just because price increased doesn't mean it is a "pump".
additionally this was more like a recovery after a hard drop and also because price went below the strong support like at $6000 so it had to be corrected and price needed to come back up. it doesn't indicate any bull/bear run/trap or anything. it is just recovery!
Whenever we are giving such type of statements we must give supportive documents. In this case it would have been better if you have given some chart in proof of your statement.
Though I do not agree that there has been some jump in the price indicating bull run.
Though I do not agree that there has been some jump in the price indicating bull run.
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