Bitcoin Forum

I would like the opinion of any experienced traders out there regarding the current price of bitcoin. With the price jumping back up over the last 24hrs im wondering if you think we are in a bear trap or we will see the return of the upward trend over the next 3-4 days? I've made some immaculate profits trading in a 30% dip and would like to know what others are thinking.

appreciate you thoughts.
cheers



https://www.imageupload.co.uk/images/2017/09/16/bitcoinchart.jpg

In only 3 hours, bitcoin is rasing price from 2k9$ to 3k7$ .I guess this is an upward trend not a bear trap. The huge increasing price is improving that chinese people and JD already gathered enough bitcoin for them. So the price of bitcoin gonna raises only from now. That's my prediction.

Disclaimer: Unprofessional advice below

I think there's a good chance that we're currently in a bear trap, causing the price to drop probably a bit more back to the lowest price point we had (around $2950). Why? It has happened in the past countless of times, so it's possible to happen again; not to mention the weekend is coming, whereas prices sometimes seems to dip a bit. Though I'm not saying that it's 100% guaranteed that we're in a bull trap. Also, gut feeling.  ;D

No signs of crashing again for now though.

I think below 3k it could not break down easily as it just went below 3k and started to rise from that pint . And continuously it has being rising ever since and reached now at 3770$. It has recovered quickly and it seems that now it will cross 4k mark again and seems to be in bullish mode . Does not seems to drop that much now unless and until we hear another ban from somewhere.

when the bitcoin price drops, the volume also rises dramatically in almost all exchange, this is what causes the bitcoin price to go up again, this is not a trap This is a positive trend that is shown by crypto and now it's time for the miners to make a profit that is big enough to have fun
 ;)

The price has fallen, but the volume has increased and what will happen next, the price is right up sharply. This is a normal situation, now it's time to get profits on such a swing.

I think this is not a bear trap, current market conditions are easily affected by news
after this news appeared: China gives huobi and okcoin extra month, market reacts and the return of uptrend in recent hours
my prediction this will continue up to $ 4,000- $ 4500

if the volume is increased then there is possibility for the price to increase but this is not guarante as we know that now the market is out from our prediction. everything can be happen and if we don't want to get trap, then we need to careful when we want to buy or sell. but personally, i think the price will be drop again before it reach $4k in the end of this month, so be careful guys.

Actually what is the different between Bear trap and upward movement ?
As far as i know Bear trap is a sign of the bull run,and movement upward is a bull run right ?

Lets talk about the price,
It is a bull trap or continuing upward movement ? There are 2 possibilities that can be happen which is .
1.Down
2.Up
But based on chart and market sentiment,i can see we will see another movement upward until tomorrow and then another down trend again,it is possible for to see $4000 marks again because of FOMO.but i am sure we will see another down trend after that
Right now, $3000 seems like a big support for now.

See, its upward trend, as I've said that this is just repetitive movement of bitcoin if look through into their graph it's happen almost every fucking time and people still fall on it.
the latest dump I see so many FUDsters around but now, they're suddenly gone. well actually Im happy with it.

Volume was recorded suddenly higher and price is also jumping,
if someone is sorting, I don't hink he could manage that big.The price was also too low for the uptrend so far,
it is not a surprised if many peoples decided to buy and it is a war between sorting and pumping

I like it.

In my personal prediction price of bitcoins fair USD base on data from Kraken, the trend of price will be down trend continuing https://cryptowat.ch/kraken/btcusd/4h today hit resistance area, the price will be back down again to around $3000/BTC
but it is just my analisys technical and my strategy of trading bitcoins fair USD, it can be true also false and i just share my personal prediction to other people and it is not suggestion to investing into bitcoins.

I am not professional but current 20-25% bounce in price looks nothing more than a bear trap and I suggest you to make an exit before whales will get enough buy orders to dump their shitloads.

Its normal to have atleast few bear trap just after a huge dump like we had before. I don't think normal buy trend can shoot price to over  20% within few hours. I am all in USD right now.

The bearish bitcoin's price will be continuing for long term because the the Chinese government will be shutdown all of the bitcoin's exchangers on there, the increasing of bitcoin's price is just manipulation from the bagholders and speculation from the traders who takes short time profit, the main trend of bitcoin's price is still down, let's wait until the october end does will all of the exchangers on China be closed by their government.

Not an expert but here goes my two cents.

The supposedly bearish trend was caused by China getting their hands yet again on regulating current bitcoin exchanges on their country. Add to that fact is the negative remarks of Jamie Dimon about bitcoin being a fraudulent investment scheme. The downtrend seemed to have stopped FOR NOW, but again there aren't any clear signs of us entering the bullish mode again as there seems to be no good news to spark up this thing aside from Japan accepting a new cryptocurrency  exchange on their soil.

My verdict: a few more days (possibly weeks) of stagnant market or a sideways market if no good news to spark up the train to the moon.

It's hard to say just yet. I am no professional in this, but as far as I can see the price has roughly stabilized around $3600 this could be the new floor. According to me if we don't see a dip down to around 3000-3200 in next couple of days we can probably assume that this isn't a bear trap.

All in USD? lulz. FIAT money is worth the paper I wipe my ass with. Bitcoin is sound money and coming for USD's lunch and eating all of it then asking for dessert.

Why are you in crypto is you hold value in the dollar? That's inflated in value so much it's not even funny. You might think it's stable one day, but it might not be one day either.

It aint a bear trap.
If a lot of holders in China sold their bitcoins and this is why it went down then there will be much more for new buyers.
We know many people are out there are in the dark just waiting for a right time to buy and it did happen at $2800 so now look at how much they are getting just by simply buying. And I know they want more so they will stay and hold.

Same here I'm not a professional trader since I cant say if its a bear trap or not knowing price is too volatile and mainly affected by news happening on bitcoin.As you said if the price wont go back down on 3000 price then for sure anytime as of now we would really see the new floor which we can assume price would rise up on next month for this year.For now the best thing to do is always keep an eye on dip prices which we can able to hedge on making profits.

It's always a continuing upward trend. The BTC supply is deflationary and it's supply is scare therfore it'll only get more valuable over time.

When I look at BTC/USD price chart in MONTHLY my hearts skips a bit, it has a whole lot of correction to make, when is what I don't know.

i am not sure of this because in this september, we see many things happen, from bitcoin is jumping at the high price and then the price is suddenly down to the bottom. but my feeling about bitcoin until the end of this month, bitcoin can increase but not to high, maybe we can reach $4k again soon but lets we wait and keep an eye on the market.

The bearish trend price of bitcoins will be continuing at least for one more later due to the China still bans bitcoins and the exchangers on there must be shutdown, that is sensitive issues especially the media preach it, (Can Bitcoin survive China’s regulation? The next year will be key. https://t.co/Etrck1XQHH) it will be impact to bitcoins become down, so my strategy of trading must be changed to short taking profit.

Yes I exactly, crypto market seems go to back $50 cap soon

this should be taken seriously as pairing or shorting would be really risky if we talk about bitcoin, this china's issue really making a huge impact
inside the crypto world, better to make some good planning and strategies before taking this sort of risk.

Based from the Bitcoin charts of cup and handle, we should be in the bear trap now. But due to increasing number of investors and non stop bitcoin buyers. Bitcoin is unable to stop.

The only thing that can stop bitcoin is the shitty fake news and shitty talks from known people in the market.

Thanks for all the replies guys, its good to get opinions across the board.




This is what I was thinking, looks like a bear trap, but bitcoin often breaks the rules.  ;)

True, Bitcoin is not so obedient with the charts lols. Have you seen the chart of FUCK token, I think this is the future graph of btc upon reaching $20k.

Judging from Bitcoin's past actions since 2014, yes. But there is always a chance that the 2010 - 2013 cycle might repeat itself. I am not saying that the price will go back below $1000, but we might not see it rise again for a longer time than expected. I will still buy the dips though but I place my bids a lot lower than usual.

Or Bitcoin will end the bullish trend from June, because it has pumped to high price in this month, we do not have reason for want the price of it continue this trend. It just makes Bitcoin look like a bubble more than and attractive speculator, of course, I do not want them invest to Bitcoin :)

This is a steady rise since the news came out that clear the statement of banning bitcoin. China cannot  ban bitcoin. They are just regulating it. This is not a bear trap but maybe a start of a new bull run.

Here you can say that bear trap was in action for sure, and you could have entered your long positions if you entered right at the reversal price level between $3800 to $4000. The return of the uptrend has been started if you have nice gut feelings then you can enter your long positions otherwise you can wait, i am expecting another small dip towards $3600 levels or $3500. If it sustains over there, then you can see the strong upside move for sure.
But If the fall is seen again then you can expect Fibonacci retracement levels of 61% -78% comes in action there or at least they will make double bottom again before going up.Great to hear that you have made profits.

Bitcoins are technological, digital form of currency that deals in technology. Technology is making the universe a portion of village, future is technology, present scenario is making all believes true. Join these all blocks and see the chain of upcoming trend in high and more highness.

If there is anything I have learned in the case of bitcoin is that the past has always not been the best determinant of the future. A lot of times we try to  predict the current happenings to bitcoin based on what happen in the past and by so doing decides to take action on but we all forgot that historical figure is meant to stay in the past.

With the current happenings, its really difficult to say for sure what is going to happen next but as a risk taker and a trader, what should be paramount is that 'how do I make the best out of the current situation' rather than bothering about whether its a bull or bear, octopus or snake, eagle or bird. If you are not a risk taker, dont come near the game.

I think upward trend will continue, yet there is a breakout. There will be some break and then it will continue as the same. It's not a bear trap to me.

when i posted this thread a few days ago i was unsure, however, after observing the chart since then I tend to agree with you. I'm thinking another rally +20% is in order very soon. im bullish and buying a few btc atm...

Yes I'm very bullish as well. I'm thinking that another massive bull run is in the horizon. The TA analysis may have been quite on the target. And it point to upward trend. So its either hold again and enjoy the ride or bought at this level before the price could explode in the next coming months. So for me its not a bull trap after all but a consolidation that will push the price further. I'm seeing around $5000 will be touch again or even more before starting a minor correction. Will continue to observe the how the price moves but I'm very positive that this is all what we have been waiting for, another bull run.

i am watching the market too like you before the price is rise at $37xx and i see the trend is going to go up and it proofs now. wee see the price is reach $4xxx but i don't know until how much the price will increase. but i think if the conditions is like this, maybe we can reach $45xx soon before end of this month.

Wrong, China's ban is already price in. Why is it so hard to understand? Nothing is going to happen 2 days from now. Forget about 30th of september, it is a non issue anymore. Just like nothing happened in August 1st when so many idiots were scared, nothing will happen in 30th september. The only thing that can stop BTC from going to $5000 soon is some unexpected news like US banning BTC or something ridiculous along the lines. Otherwise not even big blockers can stop this rise for an ATH. Get ready and buy the dip or you'll be crying soon.

Don't you think the people of ask the same question over the past four years? Look at the history it went from 0 to 5000 and it's going to keep going up. Of course people have ask themselves if it's going to keep going up or not but the fact is it continues to do so. What you do is you write that out until it starts to come down.  Bitcoin is steadily moving again towards 5000$ and we all want that to happen.

I was asking about a three day period following my original post, for those that traded and who understood trading charts to respond.

Its long after that date now and we already have our answer, I cant see how this question has been asked many times over the past four years as sept'17/17  hadn't arrived yet.  ::)