Just of yesterday I have seen a strong move of the ethereum gaining about 10 percent from the previous price and I was triggered to know if the bull about to kick off.
What do you smells from it?
This is not a bull trend yet but a good sign of recovery, we can only confirm this if the whole market able to break the resistance level and continue it’s momentum.
This recovery can be considered a bull trap too. Faking the market to be bullish then a sudden dump might happen. As we see the price recovery become stagnant and we see some corrections making the market price to downtrend a bit.
Let’s not get hyped by this current movement, this might be a bull trap as well so be careful and buy only when you think the price is good. Many hope that this is a bull trend, and see if there’s a confirmation for this possible trend.
True, it is early to get hyped. we need a lot of good news and lots of new institutions adopting cryptocurrency but it isn't that many yet. So I also think that the current price surge is somehow a bull trap.
Everyone are expecting bull Run, any small move of Bitcoin that created a lot of noise in the cryptocurrency market, which is just a sign of improvement time coming, currently market is fluctuating for candles stake correct. Just a matter of time, Bull Run we start as well all expecting.
We all think that the bull trend will come sooner or later but at this point, the transition isn't happening yet, we might see another month of boring sideway.