The shorts below 5 $ are a great bait for bulls, if they decide to take it...
Perhaps you are right but then...let's wait and see....
If you have that sort of power, it makes more sense to squeeze out all the existing over-leveraged bulls first, taking their leveraged coins at a lower price, then riding the wave from there.
But anyway, I guess me bringing this up is moot. Bull and Bear traps are only traps because people genuinely believe the price is going to go a particular way.
This is the longest period of no movement in like...bitcoin history. What amazes me is that even the heavy $$ seem to be sitting on the sidelines, when all it takes is like 20k-40k btc in
either direction to pretty much guarantee explosive momentum.
It's broken out of the trend line, as far as I can tell, but there's some serious doubt about that in the market. The point I was trying to make with the OP is that on trend reversals people psychologically need a major backtest of the old trend to be "sure" the trend is over. I suppose that will come in its own time.
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