Bull trap or lasting | Bitcointalksearch.org

matchi2011

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

No way for a trap to fool us here, big praises for those people who learned from their mistakes because they'll going to embrace success sooner.
Bullrun can be a lasting scenario if we won't stop holding our btc, eth and other altcoins which you think capable if reaching the top price before profit comes.
If we're going to surpass $43k next week, always expect more pumps coming afterwards.

Indeed, if this run continue moving strong then there's a chance to see another new ATH depends from how you will take this market.
If you focus yourself holding and have that trust inside you,

You may maximixe the profits that this market will bring you, very important to have long patience while waiting for the big pump.

MiF

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I think this will last long, this is not a bull trap because I believe that Bitcoin will not fall below 30k$ again, but we still need to set a limit so that we can prepare if this really a bull trap. I see the market is on good condition so I'll n my own opinion btc will be making a new ATH soon.

STT

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Its trending upwards, its reasonable to expect a bull trend from here for this month at least. Higher high on the daily bars, until the 200 day I expect upwards price action.
There is some idea for resistance here from the lows of Feb but I think thats quite weak resistance and just an echo of the former range top we had seen mark top prices previously. It will pull back at some point but has not given an indication of that currently, it has momentum and fairly clear space to move.

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Quote from: Tahid12 on August 06, 2021, 04:29:54 PM

Bears were try hard so many time, to dump this crypto world but each time they remain unsuccessfully and lost fight with bulls. Even btc came back at $42k from $29k Barrier level. So i believe this is succesful up trend. Besides lots of new comers already investment on bitcoin and other currencies, and they take bitcoin together at higher level. It is hard to dump market from this Barrier level to $20k. So waiting for cross another barrier level by btc

The current surge is seemed out of the plan, I'd never hear any reason for this pump that is why it looks surprising how the trend goes like this coz most of us think about the dump after it drops back at $39k but it pumps back again and it continues moving high. I feel that many had missed the train, some might lose their Bitcoin at $40k but still, it is a profit. I'm now observing the market for a few days before taking action and have some analysis. I'd never think about the bull trap but can't simply ignore that thing.

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Quote from: rhodelmabanal on August 06, 2021, 02:16:41 AM

Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

I see that this is a true bull run and it already lasting, it is different from a bull trap because Bitcoin price only drop to 29k$ it does not drop below 20k$, so then I believe that the bull run will maybe continue untill the end of this year, I will never believe that Bitcoin will back to low price below 30k$ this time.

There's no chance for $30k to go back again because we already experienced that last month when bear market started to have dominance. Unfortunately it failed staying for so long because investors were buying back, then FUD have been suppressed because of btc recovery was too fast. As per Op, true bullrun could be lasting as soon as possible and we just have to wait for that with patience.

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Bears were try hard so many time, to dump this crypto world but each time they remain unsuccessfully and lost fight with bulls. Even btc came back at $42k from $29k Barrier level. So i believe this is succesful up trend. Besides lots of new comers already investment on bitcoin and other currencies, and they take bitcoin together at higher level. It is hard to dump market from this Barrier level to $20k. So waiting for cross another barrier level by btc

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Quote from: rhodelmabanal on August 06, 2021, 02:16:41 AM

I see that this is a true bull run and it already lasting, it is different from a bull trap because Bitcoin price only drop to 29k$ it does not drop below 20k$, so then I believe that the bull run will maybe continue untill the end of this year, I will never believe that Bitcoin will back to low price below 30k$ this time.

I have a high standard when calling it a bull run but I am pretty sure that if it stays like this and steadily goes up for about a month or even 2 months, then probably I would agree with you that it's a bull run but I still have a bad feeling in my gut that tells me there's caution to heed in this current price movement.

Bustart

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

You're too motivated that bullrun is really doing well this time, as far as price was concerned right now there's no trap on what's really going on with the latest market updates. We surpassed $37k,$38k and $39k and now we're at the price of $40k. Everyone is now excited to see for next few hours to tick in time, because there might be a rapid increase that's waiting to be triggered without any further notice.

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

I see that this is a true bull run and it already lasting, it is different from a bull trap because Bitcoin price only drop to 29k$ it does not drop below 20k$, so then I believe that the bull run will maybe continue untill the end of this year, I will never believe that Bitcoin will back to low price below 30k$ this time.

Shasha80

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Quote from: Maslate on August 04, 2021, 08:02:34 AM

Quote from: Shasha80 on August 04, 2021, 04:33:41 AM

If we look at the current Bitcoin price which is getting lower to the $37k price, it looks like the increase to the $42k price is a bull trap. But maybe
my guess is wrong, we still have to monitor the market at least until the end of this week. If at the end of this week the price of Bitcoin continues
to fall, I believe the increase in Bitcoin a few days ago is a bull trap. But everything can change, if in the near future there is good news about Bitcoin,
this will trigger FOMO and can make the price of Bitcoin go up again.

Well, market corrections mostly come next after the price surge. We can say it was a trap base on some experience, we can't really deny the fact that the market is truly unpredictable and so we need to be more careful. For me, I don't buy coins during the hypes as I usually think about a possible dump to happen after, if I were wrong, I'm still good but if I am right, I haven't lost any.
I'm a victim of this situation in my early days in crypto and it gives me some learnings.

Our experience is indeed very useful to be able to make us more mature in making decisions. There are many things we can learn from our mistakes
in the past, when we first join the crypto world almost everyone loses. But this is what makes us now more careful to see Bitcoin price movements,
and decide what steps we will take. As I said earlier, we need to monitor Bitcoin price movements until the end of this week, in order to determine
whether it is a bull trap or not. It turns out that now Bitcoin has managed to return to the price of $41k, it means that it is very likely that the increase
in Bitcoin will continue to price resistance and not the bull trap that we fear.

romero121

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The 100 & 200 day moving average is predicted to gain resistance, but the price directly broke and has reached the price around $40000. This seems to increase upto the range of $42000 in the falling days. If the $42k is broken then we can expect the price to reach $45k at the shortest.

osasshem

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Quote from: Furious 7 on August 04, 2021, 11:07:46 AM

Quote from: jakdanyel on August 04, 2021, 10:58:13 AM

We don't know whether it's a bull trap or not. We hope that it's the bull market that we are witnessing right now. The price reached even a level more than $42k. Now we see it at $39k but it shouldn't misguide anyone. This could be a some of kind of correction. As it's still not clear whether it's really the bull market, we should act very carefully these days.

I hope this is not a bull trap because seeing the situation is still very good, therefore whether we will see a bullish trend is to be expected but this will make up for this normal figure of $50k to become a strong bull to go to ATH again.
I am preparing myself at this time whether I should continue or not what is clear is that my grip remains to sell when the bulls come and I don't think it is appropriate that bitcoin will experience another correction.

I think we have to be careful in making the decision whether to buy now or wait for it to go down is a difficult choice.

Actually, this is a really cruciall time in the market where every decision and action taken will determine whether it it will be a rejoicing or regretting step taken. If there is cash or capital, this is not too late to buy, though expecting that it might still go lower than this, then putting a buy limit at a certain range, cause we all know the market when ranging, it is always on a rollercoaster ride, untill we see the full move and when the market has broken off from the range level we know we are in for the next bullish trend that will lead to a new ATH of all time.

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Quote from: jakdanyel on August 04, 2021, 10:58:13 AM

We don't know whether it's a bull trap or not. We hope that it's the bull market that we are witnessing right now. The price reached even a level more than $42k. Now we see it at $39k but it shouldn't misguide anyone. This could be a some of kind of correction. As it's still not clear whether it's really the bull market, we should act very carefully these days.

I hope this is not a bull trap because seeing the situation is still very good, therefore whether we will see a bullish trend is to be expected but this will make up for this normal figure of $50k to become a strong bull to go to ATH again.
I am preparing myself at this time whether I should continue or not what is clear is that my grip remains to sell when the bulls come and I don't think it is appropriate that bitcoin will experience another correction.

I think we have to be careful in making the decision whether to buy now or wait for it to go down is a difficult choice.

jakdanyel

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We don't know whether it's a bull trap or not. We hope that it's the bull market that we are witnessing right now. The price reached even a level more than $42k. Now we see it at $39k but it shouldn't misguide anyone. This could be a some of kind of correction. As it's still not clear whether it's really the bull market, we should act very carefully these days.

Baofeng

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Quote from: thecodebear on August 03, 2021, 05:00:12 PM

I think this is likely one last check in back with high $30,000s, and probably mostly just due to panic related to the wording of the upcoming US infrastructure bill that currently in its nonsensical language puts literally impossible regulatory requirements on lots of crypto participants.

Could be, hopefully this is the last one and then we can surge back to $40k++.

Quote from: thecodebear on August 03, 2021, 05:00:12 PM

In the next week I think we'll probably see the price move back to $40k and this month Bitcoin will break out of resistance and maybe close the month around $45k. That'd be my guess.

Imminent break-out, but let's see, but the good thing is that we have showed that we can break $40k again, so that alone is a good indication. We still have a full 4 weeks ahead of us, $45k is that that far, as I have said, we've seen a jump from $29k-$42k. So possible a jump again to $40k and above this month.

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Quote from: Shasha80 on August 04, 2021, 04:33:41 AM

Quote from: Oceat on August 03, 2021, 05:57:43 PM

Quote from: thecodebear on August 03, 2021, 05:00:12 PM

snip~

I don't see any signs of fomo by next week but if there's a one news that would change the people's minds then that would be a news like bigger company investing in Bitcoin. For now, I can't tell yet if there will be a continuation of the bull run or it's just a bull trap but I do hope these people is right then maybe we will be staying in $40k+ cycle.

But for now, shorters are doing something that makes the market strive to break past the $40k range. I do really hope Bitcoin would stay in the $40k range and continue to break at the top again.

If we look at the current Bitcoin price which is getting lower to the $37k price, it looks like the increase to the $42k price is a bull trap. But maybe
my guess is wrong, we still have to monitor the market at least until the end of this week. If at the end of this week the price of Bitcoin continues
to fall, I believe the increase in Bitcoin a few days ago is a bull trap. But everything can change, if in the near future there is good news about Bitcoin,
this will trigger FOMO and can make the price of Bitcoin go up again.

Well, market corrections mostly come next after the price surge. We can say it was a trap base on some experience, we can't really deny the fact that the market is truly unpredictable and so we need to be more careful. For me, I don't buy coins during the hypes as I usually think about a possible dump to happen after, if I were wrong, I'm still good but if I am right, I haven't lost any.
I'm a victim of this situation in my early days in crypto and it gives me some learnings.

Shasha80

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Quote from: Oceat on August 03, 2021, 05:57:43 PM

Quote from: thecodebear on August 03, 2021, 05:00:12 PM

I think this is likely one last check in back with high $30,000s, and probably mostly just due to panic related to the wording of the upcoming US infrastructure bill that currently in its nonsensical language puts literally impossible regulatory requirements on lots of crypto participants.

In the next week I think we'll probably see the price move back to $40k and this month Bitcoin will break out of resistance and maybe close the month around $45k. That'd be my guess.

I don't see any signs of fomo by next week but if there's a one news that would change the people's minds then that would be a news like bigger company investing in Bitcoin. For now, I can't tell yet if there will be a continuation of the bull run or it's just a bull trap but I do hope these people is right then maybe we will be staying in $40k+ cycle.

But for now, shorters are doing something that makes the market strive to break past the $40k range. I do really hope Bitcoin would stay in the $40k range and continue to break at the top again.

If we look at the current Bitcoin price which is getting lower to the $37k price, it looks like the increase to the $42k price is a bull trap. But maybe
my guess is wrong, we still have to monitor the market at least until the end of this week. If at the end of this week the price of Bitcoin continues
to fall, I believe the increase in Bitcoin a few days ago is a bull trap. But everything can change, if in the near future there is good news about Bitcoin,
this will trigger FOMO and can make the price of Bitcoin go up again.

buwaytress

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Quote from: thecodebear on August 03, 2021, 05:00:12 PM

I think this is likely one last check in back with high $30,000s, and probably mostly just due to panic related to the wording of the upcoming US infrastructure bill that currently in its nonsensical language puts literally impossible regulatory requirements on lots of crypto participants.

In the next week I think we'll probably see the price move back to $40k and this month Bitcoin will break out of resistance and maybe close the month around $45k. That'd be my guess.

Yeah. It's now been two consecutive weekends of happy bulls already. Can certainly feel them ready for another round of action starting late Friday. Appetite is still there for another crack at 42k. Whether it will be the final surge over that, can't quite tell. Wouldn't be too worried if not, though. It'd be the sellers feeling the heat if they can't prevent that.

bbc.reporter

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Quote from: stadus on August 02, 2021, 03:18:45 PM

Quote from: bbc.reporter on August 01, 2021, 11:22:34 PM

Quote from: CryptoLogo on August 01, 2021, 06:02:10 AM

CryptoWhale considers Bitcoin's rise to 42,500 as a bull trap and cites a 2018 chart as evidence, which shows many similar spikes.

Do you trust him? His twitter account appears to be always about fud on everything hehehe.

Also, bitcoin pumped for 10 days and has presently entered the overbought zone based on the RSI. Do you reckon it will always pump everyday without corrections? I shake my head.

I trust him because bitcoin moves according to its trend, and since this market is still manipulated, it's hard to trust that we will see another bull run when we already have one that lasted this year. We should be cautious, I'm not an expert but I agree with @CryptoWhale as it coincides with my observation.

I have not done my research on this @Cryptowhale account, however, there were many people who said that the person behind that account is a scammer. His predictions might be correct but be careful if you say you trust him hehe.

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Quote from: thecodebear on August 03, 2021, 05:00:12 PM

I think this is likely one last check in back with high $30,000s, and probably mostly just due to panic related to the wording of the upcoming US infrastructure bill that currently in its nonsensical language puts literally impossible regulatory requirements on lots of crypto participants.

In the next week I think we'll probably see the price move back to $40k and this month Bitcoin will break out of resistance and maybe close the month around $45k. That'd be my guess.

I don't see any signs of fomo by next week but if there's a one news that would change the people's minds then that would be a news like bigger company investing in Bitcoin. For now, I can't tell yet if there will be a continuation of the bull run or it's just a bull trap but I do hope these people is right then maybe we will be staying in $40k+ cycle.

But for now, shorters are doing something that makes the market strive to break past the $40k range. I do really hope Bitcoin would stay in the $40k range and continue to break at the top again.

thecodebear

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I think this is likely one last check in back with high $30,000s, and probably mostly just due to panic related to the wording of the upcoming US infrastructure bill that currently in its nonsensical language puts literally impossible regulatory requirements on lots of crypto participants.

In the next week I think we'll probably see the price move back to $40k and this month Bitcoin will break out of resistance and maybe close the month around $45k. That'd be my guess.

KennyR

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The market is unpredictable, buy when the market drops low and sell when you feel it is at the top. Just because the market bounced from the price around $30000 to $40000 and gradually decreased a little, we can't mention it a bull trap or fake price pumping. With bitcoin investment/trading patience is much important. Maybe the price have got lowered, but there assured recover. Until it happens we need to have patience, if not it feels like a bull trap.

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Quote from: kotajikikox on August 03, 2021, 06:40:27 AM

Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

But it's not lol , 43k? it can only break the 42k and then fell down again to 38k now.

https://coinmarketcap.com/

It is really hard for bitcoin to stay at 40k in at least 10 days because this always being dumped after hitting 40,000 level.

but i am keeping my faith and yeah if 43,000 is broken than we might see another climbing high .

Maybe some certain situations contribute to the growth of bitcoin, also August is bad month for Chinese so maybe this one contribute also to the growth of bitcoin but I don't actually believe on this superstitious belief of Chinese things so hopefully we can see bitcoin reach at $45k so that we can eliminate the fear of others who think about something like this and keep believing on other unbelievable stuffs on crypto.

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

But it's not lol , 43k? it can only break the 42k and then fell down again to 38k now.

https://coinmarketcap.com/

It is really hard for bitcoin to stay at 40k in at least 10 days because this always being dumped after hitting 40,000 level.

but i am keeping my faith and yeah if 43,000 is broken than we might see another climbing high .

Wind_FURY

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Quote from: Macadonian on August 02, 2021, 03:21:19 PM

It has already passed 43,000 before and we had a price correction which kept us there for a long time so Bitcoin is never unstoppable and will always have price corrections.

It’s “not unstoppable” in which time-frame? It went from mere cents to $60,000 in 10 years. Everyone couldn’t believe it. OG HODLERs can’t believe they won the lottery, nocoiners can’t believe it too but started calling it a Ponzi Scheme. It is unstoppable in my opinion, there are many more people to onboard in the system, bringing the price up.

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I expect a sideways market for a month or two then we may see a market will go higher. I dont think we go lower than $30k anytime soon but anything can happen in crypto market, one bad news and market starts moving accordingly. I'd wait some time before coming making any decision.

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BTC is trying to touch the $ 43k levels but it has been somewhat difficult, the offer that has been found for almost $ 42k has been quite strong, I think that many who bought at $ 30k are selling at the moment, which has been a good wall for bears:

Quote

This bullish view will invalidate if the price turns down from the current level and breaks below the $36,670 support. That will indicate that the BTC/USDT pair could extend its consolidation between $28,805 and $42,599 for a few more days.

Source: https://cointelegraph.com/news/price-analysis-8-2-btc-eth-bnb-ada-xrp-doge-dot-uni-bch-link

I do not think it is a bullish trap, I think that for now what is being presented in the short-term market, anything can happen, although the news has been good, there are many bears that are taking advantage of selling in the rallies, it is very difficult when bulls try to test new price levels, it is a total risk, I think that for now what is happening is not a bullish trap.

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Quote from: Macadonian on August 02, 2021, 03:21:19 PM

It has already passed 43,000 before and we had a price correction which kept us there for a long time so Bitcoin is never unstoppable and will always have price corrections.

yes keep holding on and through. we will also keep moving and moving. we predict a bull run will occur in the future, maybe the current is slightly reversed. but don't worry it's just a little.
Many people will think this is a trap and they will back off.

osasshem

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The possibility of we seeing a next bull run is not too far as the change in the down trend is slightly on the reverse. Though it might be on a slow and raging period, trying to form new support and resistance zones, as it is something that has to be done in other to move on in the upward or downward trend.
It will not be doubted that there are some big whales and new investors using this as an opportunity to jump into the mainstream. No one knows how low it will go, but for sure we know it will definitely reverse for everyone to smile.
On the process of we (low cap investors) having big expectation of a bull run, we should also remember to know the importance of a stop loss if the market goes against forecast.

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Quote from: Yaunfitda on August 02, 2021, 02:42:07 PM

Quote from: zanezane on August 02, 2021, 12:29:39 PM

Quote from: pooya87 on August 02, 2021, 04:25:49 AM

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

Well, every person should be responsible for their actions, I mean it's not like the people who earned a big profit in trading wanted to take away the money of the other people, that's just irresponsibility if they blame the market and not their decisions that lead them to that point.

I guess they are really stubborn, why go against the flow and lose money? Newbie should learn from the first mistakes easily, but instead some of them are hard headed to think that they can bet against the odds. And then it's too later for them, thousands of dollars have been lost and then they blame everyone, the market, the FUD, the speculators. But if they are just going to look closely, the problems is themselves, too aggressive.

Being aggressive wont really be giving you any advantage specially on dealing with a very volatile and unpredictable market.All you do need is to sustain yourself and make your capital last longer

and make it bigger or making gains no matter what the market condition is then you should at least know on how to deal with it and not just make out decisions basing up into your emotions

or something that you do have in mind specially on making big profits. Bull trap or not then its not an assurance for someone to believe on.

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It has already passed 43,000 before and we had a price correction which kept us there for a long time so Bitcoin is never unstoppable and will always have price corrections.

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Quote from: bbc.reporter on August 01, 2021, 11:22:34 PM

Quote from: CryptoLogo on August 01, 2021, 06:02:10 AM

CryptoWhale considers Bitcoin's rise to 42,500 as a bull trap and cites a 2018 chart as evidence, which shows many similar spikes.

Do you trust him? His twitter account appears to be always about fud on everything hehehe.

Also, bitcoin pumped for 10 days and has presently entered the overbought zone based on the RSI. Do you reckon it will always pump everyday without corrections? I shake my head.

I trust him because bitcoin moves according to its trend, and since this market is still manipulated, it's hard to trust that we will see another bull run when we already have one that lasted this year. We should be cautious, I'm not an expert but I agree with @CryptoWhale as it coincides with my observation.

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Quote from: zanezane on August 02, 2021, 12:29:39 PM

Quote from: pooya87 on August 02, 2021, 04:25:49 AM

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

Well, every person should be responsible for their actions, I mean it's not like the people who earned a big profit in trading wanted to take away the money of the other people, that's just irresponsibility if they blame the market and not their decisions that lead them to that point.

I guess they are really stubborn, why go against the flow and lose money? Newbie should learn from the first mistakes easily, but instead some of them are hard headed to think that they can bet against the odds. And then it's too later for them, thousands of dollars have been lost and then they blame everyone, the market, the FUD, the speculators. But if they are just going to look closely, the problems is themselves, too aggressive.

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Quote from: zanezane on August 02, 2021, 12:29:39 PM

~
Well, every person should be responsible for their actions, I mean it's not like the people who earned a big profit in trading wanted to take away the money of the other people, that's just irresponsibility if they blame the market and not their decisions that lead them to that point.

I do accept the fact that not everyone even if they are a newbie is jackass who is giving away their principal amount they invested to smart ones, everyone have the option to what they choose want with the money they invested in the market and most probably if they are not doing their research before jumping into the market they usually panic and sell out at a loss after seeing the huge volatility and hopefully that is what he is trying to explain.

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Quote from: ?? on ??

Please do not waste your time speculating whether the market is going to bull run or another bull trap. The market is a good time for shorting, so keep benefiting in every way you can. Regardless of the market condition, if you know how to take profits, it won't matter. Ethereum's rally is strong today, but Bitcoin has been dropping recently accompanied by ETH's decline. Often, this happens. BTC pumps then people take the profit.

Shorters are always doomed in the crypto market, think about it you are in crypto that is going against the inflation, in the long run every single time dollar gets weaker crypto gets higher and the first thing on your mind is to short it? Yeah sure that may have worked once or twice in the past but let's be honest, it has lost 100 times before it won once.

You have to be like a sniper hitting a target walking in a very crowded street from a 300 mile away distance. That is seriously something that should not be considered a logical decision to do, not saying it is impossible, I am sure there must have been some people who made the correct call each time and rarely loses money on shorts, but for every one good short caller, there is probably ten thousand that gets it wrong. Which is why I believe we should not be considering this as viable investment at all.

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Quote from: pooya87 on August 02, 2021, 04:25:49 AM

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

Well, every person should be responsible for their actions, I mean it's not like the people who earned a big profit in trading wanted to take away the money of the other people, that's just irresponsibility if they blame the market and not their decisions that lead them to that point.

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Quote from: bbc.reporter on August 01, 2021, 11:22:34 PM

Do you trust him? His twitter account appears to be always about fud on everything hehehe.

Why would I trust someone who thinks it makes sense to compare 2018 and 2021? Obviously, there are people who believe that the bull run is over and that we have already reached maximum ATH this year - but there are also those who believe that the bulls are not over yet and that Q4 will be just as exciting as Q1.

My personal opinion is that we have not yet seen the effect of halving, and what is an indisputable fact is that large quantities of BTC have ended up in cold storage in the past year - which only means that the price will go up when demand is in full force. I don’t believe the various random prophets who appear like mushrooms after the rain, and they all use Bitcoin as bait to make as much money as possible on ordinary speculation.

Wind_FURY

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Quote from: pooya87 on August 02, 2021, 04:25:49 AM

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.

This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

I believe it’s those people who bought close to the ATH who can’t take their paper losses anymore. It’s a very good example of what their impatience/frustration can do to their emotions and decisions.Understandable, we’re human, but the best would be to put those coins in cold storage then forget about them.

arwin100

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Quote from: MusaMohamed on August 02, 2021, 05:23:47 AM

Quote from: pooya87 on August 02, 2021, 04:25:49 AM

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

Newbies lose their money in all market, bull or bear market they will lose their money.

They easily get FOMO that's why they are prone losing on different market condition. They need to learn from this since if this one continuous to go on maybe they should look back their past trades on why they are losing since for sure they can get an idea on why all things happening and maybe they became a holder once they find out that the potential coin they buy have huge chances to pump up and getting panic on some movements is really a bad decision.

MusaMohamed

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Quote from: pooya87 on August 02, 2021, 04:25:49 AM

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

Newbies lose their money in all market, bull or bear market they will lose their money.

In bull market they buy when price rises too much and reject dips. They see opportunities when price is moving up 15% to 20% but they don't want to take dips when price is falling 15% to 20%. Dips are great chances in bull trend.

In bear market they only hope that the bull market will return. So they don't sell when price bounces. In bear market, if they can sell with bounces, and repeat it, they can equalize their loss from the bull market.

pooya87

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The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

BuNga_cute

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Quote from: ?? on ??

I don't think this is a trap but be wary of getting in too much. Just as others think that bitcoin this year has fallen 50% from the previous ATH. But now the crypto market is slowly starting to rise and break through the resistance level. That means the potential price of Bitcoin will still strengthen.

Always be careful when investing in Bitcoin is very important, because the price of Bitcoin is very volatile so its movements are difficult to predict.
But don't worry the Bitcoin increase is not a trap, the most important thing is that we can be patient to hold Bitcoin until our target is reached.
Don't be influenced by Bitcoin price movements, because no matter how deep the Bitcoin price falls, Bitcoin can always recover again. We really
have to have faith in the future of Bitcoin, so if the price of Bitcoin falls, make it an opportunity to buy Bitcoin again. Especially now that the price of
Bitcoin has passed the $40k resistance price, meaning that Bitcoin has the potential to continue to rise in price.

Wind_FURY

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OP, maximum chart ZOOM OUT, then ask yourself again. Is it a Bull Trap or truly a Lasting Surge? The crash was actually another golden opportunity to buy more coins, either to add to your cold storage or if it’s your first time to buy.

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Quote from: CryptoLogo on August 01, 2021, 06:02:10 AM

CryptoWhale considers Bitcoin's rise to 42,500 as a bull trap and cites a 2018 chart as evidence, which shows many similar spikes.

That's not an evidence, that is still his own speculations.
Again, this isn't the 2017 bulls and 2018 bears. Similar spikes doesn't guarantee a similar result, market sentiments were totally different unless the investors are influence by the chart representations and follow those patterns.
It has been more than week after Bitcoin rises up to $42,000 and noticed there are always a slight drop of price after a short consistent run, but I guess people keeps on stacking more Btc when the price starts a slight decline.
So, to answer the OP's question. This isn't likely a bull trap.
Nevertheless, nothing happens to your asset even If you're caught in a bull trap If you're not selling during dumps.

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

Its glaring that the market price outlook or sentiment has already changed to bullish sentiment this isn't a bulltrap as being speculated, with reference to BTC/USD weekly timeframe chart plus a RSI(14) had signalled or indicated a bullish divergence coupled with fact that price had broken a strong resistance at $35K and $$39K respectively with reference to daily chart and presently the price is retouching the resistance turned support thus a bullish uptrend is imminent obviously its time to buy at dip and accumulate, the market has already ensured and overcome a bearish season that started since mid May.

Kong Hey Pakboy

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Quote from: Gozie51 on August 01, 2021, 04:44:45 PM

Around march last year that covid-19 was hitting the world heavily, bitcoin started increasing and people kept speculating bear but price kept moving up. Yet now speculators are hitting the pages for bear but the price kept appreciating. Currently we are at $41,257 , this is looking like more bull with the positive news around bitcoin.

So what you're trying to say is that what's going to happen now is the reverse of the last year? I don't have the knack and knowledge for analysis but I feel like this is a trap that will cause the prices to go down and then have the price go back up by the end of the year or the start of a new year.

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Quote from: bbc.reporter on August 01, 2021, 11:22:34 PM

Quote from: CryptoLogo on August 01, 2021, 06:02:10 AM

CryptoWhale considers Bitcoin's rise to 42,500 as a bull trap and cites a 2018 chart as evidence, which shows many similar spikes.

Do you trust him? His twitter account appears to be always about fud on everything hehehe.
Also, bitcoin pumped for 10 days and has presently entered the overbought zone based on the RSI. Do you reckon it will always pump everyday without corrections? I shake my head.

He seems to be a usual accomplice of the guys who want the price to dip so they could buy from the panicked newbies.

This is supposedly the 3rd week of the green candles so maybe on Wednesday, the red candle will turn green. Bullrun doesn't always have a green candle every week so there are bumps along the way. It's his time to buy, spreading fud is one good strategy in order to find an opportunity to buy.

bbc.reporter

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Quote from: CryptoLogo on August 01, 2021, 06:02:10 AM

CryptoWhale considers Bitcoin's rise to 42,500 as a bull trap and cites a 2018 chart as evidence, which shows many similar spikes.

Do you trust him? His twitter account appears to be always about fud on everything hehehe.

Also, bitcoin pumped for 10 days and has presently entered the overbought zone based on the RSI. Do you reckon it will always pump everyday without corrections? I shake my head.

adaseb

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Its conflicting right now whichever way the direction will go. On the long term scale, we are at major resistance. We are at the range high from the last 3 months AND if you look at the weekly chart, we are on the right shoulder of the H&S pattern. So technically it looks like a great short from here.

However the way we had 10 daily green candles is very bullish. And the fact that we are pretty much at $40K and we are getting negative funding leads me to believe this will go higher. Seems way too many people are thinking the H&S pattern will play out and they are aiming for mid-range ($35K) or low-range ($29K) or even $20K or so.

What is negative right now is that its still August and we got little volume. So its hard to pin-point which way this will go.

nomenclatur

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

this is just a trap, see when bitcoin is at $42k it will go down again many believe the market will be bullish again but in fact, it's all just a trap that will trap anyone by buying at a high enough price because whales have often made markets like this appear it's clear that whales can manipulate the market to change whenever they want it can happen but bitcoin won't be on the rise for too long.

STT

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Certainly we have the possibility for weakness and as normal the market is exploring that path right now on Monday is the perfect time for volatility and extra volume from over the weekend. We've broken short term momentum like the 2 day average and imo its very reasonable we go back to check something like the weekly average at 39k which matches other measures and volume history also.

Its a brake check, doesn't have to be taken negatively or immediately implicating a large move but we check prior prices for that durability and sellers find lower prices. Weekend drift, Monday check and retrace probably quite natural in the vocabulary of quite a few traders.

Boov

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

If we won't reach or overcome until $46k and so on, there would be a possibility that current price will come to saturation period. The market isn't that good and not behaving well with recent fluctuations, it made me felt so uncomfortable to see strong resistance taking more strikes. Bull trap or whatever, we need to take our strong grip despite what will going to exist in the upcoming days this 1st week of August.

Coin-1

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In fact, the bears failed to break through the $30K Bitcoin support level, so they gave up their futile attempts to push BTC below that threshold. Now the bulls raised their heads.

In my opinion, the current situation in the cryptocurrency market is mainly inspired by the "London" hardfork which will be activated on the Ethereum blockchain on August 4, 2021. The ETH price will definitely soar, so Bitcoin as king will follow upward trends.

I believe this is not a bull trap (although it was much better to buy BTC at a lower price). I also suppose that some well-known multinational technology company is currently buying lots of the most popular cryptocurrencies.

Slow death

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it looks like the price will be having a correction after increasing wildly, but the question now will be how far the price will correct and whether the next support will be strong enough not to break and take us back below the $35,000. i estimate that we can't drop below $39,000 at all, if we drop below $39,000 the price could drop too much this is not good because the next support after $39,000 would be $37000 which has already proven that it is not a strong support. I hope we don't see the price below $35000 again

Quote from: Gozie51 on August 01, 2021, 04:44:45 PM

Around march last year that covid-19 was hitting the world heavily, bitcoin started increasing and people kept speculating bear but price kept moving up. Yet now speculators are hitting the pages for bear but the price kept appreciating. Currently we are at $41,257 , this is looking like more bull with the positive news around bitcoin

an interesting fact is that every time someone makes negative forecasts the price goes up a lot, and every time they make optimistic forecasts the price drops a lot

Quote from: AliMan on August 01, 2021, 04:34:58 PM

On the previous price, $42k was reached then suddenly fall back down to $41k today.

could not break the resistance so it fell

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

Well, there is no one knows either it is a bull trap or not, and bitcoin will remain of being volatility.
If you wanted to buy bitcoin right now, it is still good for you because bitcoin will perhaps move in the upward direction, but if not, just hold it until it comes back to the price where you purchase. Just listen to the newest trend, you can perhaps follow the bitcoin sentiment and analyzing on your own where the bitcoin price potentially goes on.

CryptopreneurBrainboss

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Quote from: ?? on ??

everyone can have assumptions or predictions according to their thinking, and we should also trust ourselves to predict this. although bitcoin has crawled up, but indeed we can not know the truth, whether this will be a real bullrun or just a trap. Therefore, when we trade, we must prepare for the risk so that we don't regret it later

Actually it's easier to predict, the charts holds all the details. The value Bitcoin has to cross to not be a bull trap is right there in the charts. Don't blindly follow people prediction that has no technical backing from the charts. Everyone can assume what the situation of the market is likely m going to be so you don't just believe any prediction you see out there. The market is slowly recovering, is still early to assume what the future holds via the short term but for the long term, Bitcoin will always be bullish.

What you should be doing now is accumulating as much Bitcoin as possible, there's definitely going to be a second wave of the bull run and the market is getting to ready for that run. The best decision you can take now is load up as much coins as possible in anticipation of the run. As usual this run will begin with bitcoin, next high market capitalization coins then the low market caps catches on.

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Around march last year that covid-19 was hitting the world heavily, bitcoin started increasing and people kept speculating bear but price kept moving up. Yet now speculators are hitting the pages for bear but the price kept appreciating. Currently we are at $41,257 , this is looking like more bull with the positive news around bitcoin.

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

They're just saying that because of doubt, basically it's not that serious and I don't see any bull trap here. The trend goes with normal changes as fluctuations sometimes break the emotions of fear, which usually happens when we seen price tend to spike. On the previous price, $42k was reached then suddenly fall back down to $41k today.

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Quote from: ?? on ??

Bitcoin already reached at $42k and this is a good sign. Because it's resistance is at $43k . If. Btc can breakdown this it we expect another sign of bull run continuation . This new month can bring up a good time and ATH of btc and whole market we can hope

Bitcoin is definitely making a positive price increase these days and it almost breaks its resistance at $43k. If the price even goes to $50k up, then i may say that bull run is indeed in its way now.

Others may say that this is a bull trap or a healthy price correction before it reaches into another ATH. As long as the market starts to turn into green, this is already a healthy movement for bitcoin. Soon, we will witness a legit bull run in its perfect time.

7788bitcoin

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Since you are looking for a speculative answer, there is no conclusive answer as the market is still trying to break the resistance and even if you think it is a trap there is nothing to worry, just hold on to your coins much longer and eventually we will see the market soaring higher from the current situation. There is no stats that could give you a clear cut answer on the market direction, you will only hear them after that movement Wink

.

BIT-BENDER

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

I don't think Bitcoin listens or even care about what people says, the price may have clocked $1million or above if it did, and enough with the correction, support and breaks thing, just a way of analyst trying to have a control, but right now a tweet or decision from Elon musk is even more decisive than many analyst.
I just see my self enjoying the price when it goes up, and if I wanted to buy more I may selfishly want it to drop a bit. Regardless -Newbies- have good knowledge especially if investing in alt-coins.

Galley

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The current situation gives us some confidence that we can see good growth in BTC again. Unless, of course, it was not a "false alarm", and green candles give us false hope. The situation is actually unpredictable and can turn in any direction. I don't want to be wrong.

Nazmul012

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Right now btc is standing at a complex position. So based on it, it hard to predict that if It'll be unstoppable or be the bull trap! Its still unclear to me as btc need to grows more to prove It'll be unstoppable. It won't be wrong if anyone claim that market is already in bear run After downfall of btc from its ath to $30k! Now its hard to go back that ath although there is always an positive expectation for btc, along with crypto industry

Kunnu

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As we know that nobody can predict the upcoming movement of Bitcoin we can only make estimate in which way it may go on the basis of technical analysis and the news about Bitcoin, currently there are not much negative news about BTC which is absolutely a positive point so I think we may see more decent growth in BTC

inanilujimi

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I feel this is not a trap if you look at the current market movement, it could be the next bullrun until the end of the year. obviously we've had a correction in a few months and it's time for the market to hit ATH again with lots of positive news and big events in some altcoins.

MusaMohamed

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Bull trap if you think it is, won't kill you. You will not end with loss if you don't sell your Bitcoin. HODL if you believe it is a bull market continuation but eventually it is a bull trap. If it is a really bull market continuation, you will have higher price than $60k to sell your Bitcoin.

If your belief in bull continuation is not correct, you will need more time to get your capital back, but Bitcoin will have higher price for you to sell. In this year, next year, next four years. It is not a big problem with me b'cause I can wait.

https://www.lookintobitcoin.com/charts/bitcoin-profitable-days/

Gayong88

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Visually bullish, if seen Until the end of last July the movement of BTC was not stable because there was an unlock of Grayscale but in August there was no unlock it had an impact on the movement of BTC, it is proven that BTC was able to break its resistance at $40,000 even though there was a small correction after that, many other important moments in August, such as Ethereum upgrades and Cardano launched smart contracts.

TWW

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Quote from: ?? on ??

Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

There are always negative people who want to pull down the price when the price is moving up and these are the same people who want the market to move up when the market is going down because either way they are going to make a profit, this what makes the market volatile because the people like to FUD and shill.

it could even be that those who make the market go down are those who make it go up too.
all in the crypto market with the aim of profit. those who have strong influence are of course the main consideration to move the market.
either this is a trap situation or indeed the bulls are continuing their rally.
although there is currently news regarding the similarities between the 2018 market situation and the current one.

Chuky92

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

Bitcoin keeps surprising everyone, it keeps disobeying charts and analysis, that was how it was predicted to dump after the B event but it went rather up. Also, before they used to say if Bitcoin crosses $45k then it's bull run, and now $43k, not as if TA and FA doesn't work, but most times Bitcoin doesn't follow it, because one good news is capable of pushing it more higher.
I would say, if eventually it crosses $45k, then fomo will set in, and we know what comes with fomo, huge participation from people, more inflow of funds and then one can say bull run is on again. Another factor to pay attention to is NFT trend, it will also play a role in this anticipated bull run just as Meme coins did few months ago.

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right now the market is being surrounded by a lot of good news in some crypto media.
I don't think this is a trap. but I'm still wary of a correction that could occur at any time.
rather than worry too much, day trading seems profitable for the current situation.

Bitstar_coin

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It doesn't seem so even though I have less knowledge about TA, to me it seem like a genuine recovery of the market, it took a while for btc to stay above 40k and now that it is, I feel it will gradually climb from till year end with occasional correction to hit a new ath, there will always be a correction but generally the market seem to be back, the whales are accumulating and new investors are coming in and so is the bull market.

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

no one knows, indeed bitcoin is very unpredictable because of some whales decisions wherein even just a sign you can't see anything before bitcoin fluctuate or make correction in the market. Probably if you will used to follow the news around the internet perhaps its possible to determine the real potential of bitcoin wherein how long it will last and etc, because you know most of the causes in the market are from internet or let say social media like what happened in the market because of elon musk. So probably on that way there's a chance in my opinion as it's the very common ways how market always turn into bearish or bullish depends on what news emerging in the internet.

DeathAngel

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

I think China FUD & Musk trolling about energy use made the price dump. All that nonsense seems to have subsided now & we are returning to the bull run. It’s a bit like 2013, a big pump followed by a huge dump. We had a period of low volatility & re-accumulation & now we are getting ready for the big blow off top phase.

Mpamaegbu

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Quote from: GreatArkansas on August 01, 2021, 05:19:21 AM

we reached the all-time high around $60,000 and drop below $30,000 that is already a huge percentage of drop

Bitcoin has seen worse drop than what it recently went through. The current drop is slightly less than 50% from its ATH of $60,000 plus to ATL of below $30,000, that's still okay compared to what we had in 2018 from an ATH of >19,000 to below $3,500. That was almost like Bitcoin was getting whipped out. On the main, I strongly believe we are in another bull rally having observed Bitcoin crossed the trading range it was confined to for weeks.

There may be retracement from time to time but that doesn't mean we're going to plunge into a bear run as that range has been broken to the upper side.

Jating

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Quote from: domoy77 on August 01, 2021, 05:27:10 AM

Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

How could it be unstoppable if $43K BTC broke? will the price of BTC continue to fly as it did in April? because ATH BTC was in April this year and now the price is still not close to the ATH price that BTC has ever achieved.

Obviously, we have reach ATH in April and after that the market went down in the next 2-3 months, even a massive fall to greater than 50%. But now we have seen record breaking green candles not seen for a long time, that's why speculators are saying that we are in another bull run or at least the price will not to good to levels of $28k, (lowest low after that ATH), and the OP is asking for our opinion.

Really hard to see if this is just a fake out break because as I have said, consecutive candles is a strong indication that we still might see a good spike in the next coming weeks. Whether new ATH or breaking $50k, it seems that the market has rebounded already.

cryptomaniac_xxx

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

We already have 10 or 11 consecutive green candles, if that is a bull trap, then I doubt that we can reach this far. Bitcoin reaches $42++ already, so $43k is within reach. It might be slow ascent though, breaking $43k, then staying there for a good couple of days then $45k and eventual $50k. So I would say let this be a bull run continuation, we just have a new month so exciting to see what it will bring, and hopefully $50k can be reach soon.

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CryptoWhale considers Bitcoin's rise to 42,500 as a bull trap and cites a 2018 chart as evidence, which shows many similar spikes.

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Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

You just can't be sure that it will be unstoppable.

We saw it reached $42k but it didn't stay there for so long. Every move up of bitcoin, there's an opposite reaction to it that it shall be corrected.

But that's way better than it will just keep on plummeting and there's no opposite action on its charts.

domoy77

sr. member

Activity: 811

Merit: 250

Quote from: udayantha11 on August 01, 2021, 04:45:42 AM

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

How could it be unstoppable if $43K BTC broke? will the price of BTC continue to fly as it did in April? because ATH BTC was in April this year and now the price is still not close to the ATH price that BTC has ever achieved.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

July candle monthly closed above $40,000 is one of my bases that this is not a bull trap or fake breakout. But I can't say this is a bull run continuation or another bull run since for the past few months after we reached the all-time high around $60,000 and drop below $30,000 that is already a huge percentage of drop and lot of people said before when we dropped below $30,000 it is already a bear run.
For me, I am more in favor of continuation, I can expect more sideways above $40,000.

udayantha11

member

Activity: 798

Merit: 17

2023 would most likely be as bearish as 2022

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

Topic: Bull trap or lasting (Read 625 times)