I am following markets closely since this big jump happened. I feel like its too good to be bull trap. In bull traps demand would be inconsistent and unbalanced, making price fluctate a lot. But with this move, it felt like some people literally filled their wallets to get ready for greater bull run in next halving period. I think we will all realize if this was trap or not in next 45 days. I would bet my money on it being real start of bull run honestly. I can't say further increases will happen that soon as well, demand can be limited for such short time window. But people would be less interested in selling/shorting.
Yes, and as far as I can understand in a bull trap, the increased will not last this long. But in our case, since the start of January, we are in a continues spike so just maybe we are not in a bull trap anymore. Maybe in the beginning, we have doubts that this could just be a trap set up by the bears.
45 days though is long enough to realized if we are in a bull trap or not, just saying.
Let's see how long can we sustained this run though, it's $21,500, now we are back into the $21'ish range again.
We have sustained it already since you last post and we even had to breach $23k already, so yeah, is not bear trap and we don't know how long will this because it seems to be a sustainable run to $25k at least, or that's where I'm seeing this bull run that we are witnessing.
Although it's crazy, we just started this year and then from $16k-$23k, that is a huge increased and we don't know where the buyer is coming from. I'm just hinting that those who went out and sold at $16k is trying to get back at the market again.