Bitcoin Forum

A few hours ago BTC jumped from 3750 to 3930. What do you think? Bull trap? Whales playing us up?

I think it is the Monday morning effect. After 2 days in which trading volumes were low, we might see some buying. But once we cross $4k, there will be another round of profit booking.

Yes, bitcoin broke out and it goes to 5k and even more.

Remember, technical analysis is the best. News comes the next.

Just follow your chart even though the prediction looks impossible to you

There have been a lot of FUD again so better be careful not jumping into buying all of a sudden.
If fake news will be successful again then we might see another fall. Maybe that time you could go with the flow with what the whales are trying to achieve.
This events have been like profit time for them.

No it's a fake news going back down 4k and it's increase day by day and reach around for the best price near  $4000 and it's not definitely decreased ,it wil increase  only .Today the price of bitcoin is around 4030$.So now bitcoin again start to increase now.you can expect to see 5000$.

At this time the price of bitcoin is 3920 dollars and for sure it will continuw to increase and maybe we the price of 4k dollars maybe after fee hours or tomorrow . This is it guyz, after dumping price we see again the price increasing. So if you have extra money in your wallet its bettsr to buy bitcoin now because they have possible that we the price of bitcoin next week at 5k dollars.

I think that the price does come back to $ 5000. It was very long due to negative news. Now everything is in the past. Maybe there will be a slight decline in the price of 30.09, but then again the rise

This time bitcoin price will reach to big numbers or atleast the value will stable around the 4000$ or little more.
You are worry because the value fluctuating faster and big from the last week but traders can be utilize this situation still for their profitness.

I personally feels that bitcoin cost will turns to next peak value again and investors will rush towards bitcoin soon. Japan everyday implementing positive adoption on bitcoin.

There is a possibility that the resistance of bitcoin value at $4,000 maybe broking before end of this week based on the current trend. But nobody can tell what will happen in October, since we are still expecting news from China on whether there is going to be outright ban or regulation of bitcoin and other altcoin activities.

I think this is not a bulltrap, and maybe Bitcoin price recovery is caused by the rumors are circulating that Amazon may begin accepting Bitcoin as a payment method this October.

I think we've reach a stale situation where everyone buys where it's below $4k. Which basically means that the price will go up.
But at the same time once it crosses $4100 you'll see the price dropping again as everyone who invested in $3500 range will cash out.

I can't really tell now if China has any effect on bitcoin price as what happened there made the price drop but it recovered alone without them.

They're still selling bitcoins and are selling it for less than $3400 when the price at the moment on preev is $3916.

https://i.gyazo.com/62cafe3da08cab003855eb0f3e6f78b9.png

Hopefully $4000 becomes the new base price. But still as always no once can say what's gonna happen tomorrow.

No. The Amazon news came out yesterday, and if the price would really react to something that is nothing more than a rumor, we would have seen it yesterday. If you look back at the charts, it clearly shows that we have been over the $4000 level already after the sub $3000 bottom. It's just the market bouncing up and down due to the buyers and sellers, so from there I wouldn't add much value to how the market has increased today....

Long term wise it will definitely keep going up, but that's not really what the short term gamblers here are looking for - they want to see this market shoot up to $5000 next week so they can sell for a quick profit. I don't understand why people wake up just because the price has gone up with more than $100 today. We've seen the price tank with a proper 20% in a single day, not that long ago, but yet this tiny +$100 increase grabs their attention. ::) Volumes are thin, orderbooks are thin, buy support is not going to support anything over $4000 for long - in other words, nothing has changed. And realistically, there is not much that we can expect from the market with a potential chain split looming due to the hard fork.

Not sure if it will go up, but I think there is a chance it wont go down (maybe we will go horizontal for a while)...
Asia has also been buying a lot after the big dump it seems, so if we have big buys on our side and we let Asia do their things I guess we can go up consistently. Unless whales have some more to give, that is

I'm expecting this to happen as the price last last week was into the downhill and it's trying to climb up again. We know after a bloody week there will be a green week so probably this week will be healthy for bitcoin. But as expected again I don't have an idea on how long this increase will take place. It can happen for a week or two or maybe this coming weekend we will see a price down fall, no one knows.

Well i think that we all were waiting for this moment, it was time for it to reach $4000 again, i am selling a few bitcoins right now, since i need a little amount of money for paying some bills, and seeing bitcoin a little bit high seems like a perfect opportunity. By the way, bitcoin will probably reach $4,50k this week, and i hope that happens soon, it would be a good signal that the price is moving to 5k

It can be considered as the bulltrap because remember the previous chart has told me the truth behind it. If this bullish didn't driven by the news or something made the cryptos are in the bullish trend and you must aware about the next some days later. Because i'm aware about it.

Yes many have been waiting this to happen to reach the 4k soon. Price fluctuation daily and actually we couldnt tell whats the next thing will happen. But in this situation I am hoping bitcoin will rise so we could earn profit.

Its a bulltrap because I bought some.

Everytime I bought it falls some 5% in the next day.

That's why I'm a hodler. I'm afraid of shorting it and lose even more.

It's too early to say for sure. It's possible that we saw a short squeeze that will fail at resistance. However, I think that's unlikely. Bears have failed to make new lows for 4 days now, and not for a lack of trying! So it looks to me like we are in accumulation mode until we break the $4120 resistance and continue the local uptrend.

Mid term, I think it's still possible that Masterluc's scenario plays out. We could see $4500 here and still be on our way to new lows.

4k is real we need only 80 dollars to reach bitcoin that price. Because as of not the price is 3920 dollars and for sure it will see 4k dollars maybe this day or tomorrow. So be ready guyz . Promote bitcoin to us so the price will continue to increase . September 30 is nesr and maybe the price will decrease because of china do . But dont worry we are here support bitcoin and we will see again 5k dollars is the next target.

The price moving too fast, it will has a great chance to bounce back, so I think it is a bull trap , a great rising is constant and simultaneously, so it is a slow rising and stable, that is the real rising but the price is really unpredictable in this few weeks, so need to be careful when taking action

You did technical analysis to claim it will go to 5k and more?

Would you care posting a screen shot of your long position? If I were as confident as you, not just emotional rambling but with technical analysis, I would've started longing "long" ago

Probably just the tip of the bull run coming up in my opinion.

Even if this is a bull trap it'll go much higher than the current price level(at least break $4k comfortably) before falling back down. We're currently just nearly at $4k and once we break it, the growth will be much faster.

That's why imo it's probably one of the better times to buy right now for a short term profit.

Probably not a bull trap.

Otherwise price wouldn't be stable right now but instead be crashing down already. But it is still holding up at a price level above $3900 quite nicely it seems, which makes me think that this is most likely a legit pump and demand for bitcoin is up once again.

Still though, price seems to be stuck at the resistance level of $4k. I'm confident it'll break it sooner or later this week, though.

There is too much analysis in this thread arguing for both sides. Keep it simple, and buy Bitcoin on the dip. Ever since the scandal of MtGox, Bitcoin has been going up, then dip a little and it would go up again breaking out from a range everytime. All the FUD flung in its way have no effect.

Is there any reason why this should change?

It seems breakdown again after created a bullish trap, it can not breakout $4,000 and dropped down. At the moment, the price of Bitcoin is ~3,850 dollar, if in next few days the price of Bitcoin still can not keep higher than $3,500 I believe it will be continue fall down to below $3,000.

It shouldn't be a bull trap.

However we are seeing some sort of pullback here, which is i think necessary for us to get to the next level of $4000+. The pump is probably because people saw that the price stabilized at $3500 and regained confidence in buying.

I'd expect much higher rises in price in the coming days. This bull market shouldn't be over just yet.

The price has stabilized, instead of crashing as soon as it reached the peak. It has pulled back from the high by around $50 but that is quite a small amount anyways. Plus, the chinese FUD seems to be gone now and people are genuinely interested in accumulating cheap coins below $5000.

Of course this could be a bull trap, but, looking from right now i don't think it is one because of that.

I have quite a positive prediction, i think that price is going to be at least $4300 by the end of the week, potentially even more.

I think the trap had been broken :) so this one is not a bull trap anymore.  Price going back to $4k is real  and I believe that it will go stratight to 5k since I think the confusion caused by Chinese government is fading.  Aside from that the upcoming upgrade for bitcoin network signals a bullish trend so i guess we will observe series of ATH in the coming month.

At this point chances are high that it will go above $4,000... The main question to me is how high can it go. I think the main limiting factor will be the segwit2x nonsense.

Everyone is so sure of themselves.  Looking at the 15 minute charts, I see a trap.  In fact, I sold some at $3950.  Lower highs, lower lows.  Decreasing volume on up moves; increasing volume on down moves.  If we are going up, why is the herd following the sellers?  I'm prepared to be wrong, are you?

Looks like a trap to me. I wouldn't dare to even buy at this point where it seems like whales are playing up. It can be dangerous at times because right now, there is a lot more volume on dumps than upward trends so it will be safer if we all hold the bitcoin we got now and not dare buy more. If it were to rise I would still be good with it but the chance of it going up is not that high and not that low so it is possible.

I think that this price is legitimate. Whales are trying to shake the market using the rumors about ban of China. But user expectations are too high. All have become accustomed to spikes in food prices and therefore the price always returns to $ 4,000.

I have checked the exchange rate of bitcoin to US dollars, and it is now $3957.33, if it continue to go higher, we will reach the $4000 mark today. And I hope it will continue, so don't correlate China's issue here, because it is a matter of supply and demand.

I think that Bitcoin's taking its turn now as if it would have been a bull trap, BTC couldn't have held up to the price of 3750 and would have been dumped suddenly as no movements were seen in the markets but it chose to go bullish and trends show that the price is definitely going towards bullish end, so without thinking wrongly just watch out the price breaking 4k in a matter of hours.

I can assure that all these fud which back then successfully making the price gets dumped hard are just temporary, at the end bitcoin always regaining its price and break new ATH, if I'm wrong, please can someone else point me out which moment bitcoin didn't break new ATH after getting dumped hard.
I'm sure that all these fud are actually whales trying to gather bitcoin cheaply as much as they can, can't say more.

You are saying temporary oh well nothing is permanent in Bitcoin except the transaction on its blockchain that is once it gets several confirmation. Price, FUD, hype, ATH, they are all temporary because Bitcoin price is driven by speculation.  And yes those who get bitcoin at cheaper price are so lucky because they can have more profit from it.  Aside from that it seems Bitcoin price is back again at $4000.  Does this mean we can have $5000 soon?

Today's high was 3970$ for btc/usd pair.Maybe next day it will hit 4000$ without doubt.But to be honest 4k level is nothing for this cryptocurrency.It is all matter about time.

in the long term, no. but your logic makes no sense to a trader. the value of BTC dropped like 90% from top to bottom after 2013. wouldn't you rather secure some of those profits, rather than holding the whole time and losing 90% of your money? holding through those types of losses can be very hard psychologically, and often pushes people into selling the bottom.

it's important -- both financially and psychologically -- to take profit at some point. that leads to the question: you say "just buy the dip." well, where does the dip end? was $3000 the end of the dip? or could the price still drop another 35% from there in november? people thought $400 was the bottom of the dip, years ago...... we ended up going sub-$200. "buy and hold" is great after a long term correction. not after hundreds of % gains in less than a year.

It will always be like this, jumping on prices is normal now to me as it happen several times. It might be called a bull trap or uncertainty as the bitcoin issue in china still unsolved and the coming November fork still on hold for discussion. Whales are like us, they do thing for they're own interest.

That was 2013, it is a different game now. But if I bought at the peak of 2013, I would still use the same strategy of buying the dip to average my position down. Bitcoin is not like a stock for me. I do not count it in fiat, I count it with how much Bitcoins I have in my wallet, and the more the better.


Take some profit and do what? Hold them in fiat? I am already earning that with my job.

This is for real, China and JP Morgan are all jokes they should accept the truth that they cannot overcome bitcoin. I strongly believed that bitcoin value will going to reach $5,000 before this year ends because bitcoin escaped all obstacles for this year. I am glad that i did not sell my bitcoin during these days of bitcoin trials.

I think your right, that JP Morgan are on the bridge of making himself insecured on bitcoin. We can't blame him actually all they're hard works for long years of establishing they're name to profit from people's ignorance will not come to an end but eventually hurt or maybe affected by popularity of bitcoin who he called "a scam". That china regulation is good for me but whales are just using those propaganda to lower the price.

The fact is that the dump was mainly created because of people panicking over the whole situation going on in China. Now that they realise that it's probably not going to affect much, traders are confident and therefore they are once again buying into bitcoin.

It's that simple, really.

Thus, it is probably not a bull trap. And i feel like price is only going to go up more over teh next few days.

You seem to have missed the point that was made. If the price is dropping, you can buy more bitcoins. Holding from the top in that situation meant potentially being able to buy 90% less bitcoins. It's not just about hedging USD value. It's also about keeping your fiat in reserve during a bear market so you can buy more bitcoins than you could have otherwise.

I get it, you take the perspective of an investor, not a trader. That's the disconnect between investors and traders. Traders aren't trying to sit through brutal drawdowns for years in order to ROI. For traders, it makes more sense to live to fight another day, rather than tie your capital to losers for the long term.

It seems the bull started running now.  I saw bitcoin price gets higher than $4,000 now.  I believe this time Bitcoin will rally towards $5,000.  The update on November signals this I guess.  Bulish Bitcoin until the end of this year.  Probably $6,000 Bitcoin is not far from happening.

What you are saying is true that doing trade with the coin is good because with same investment you can earn more bitcoins buy trading bitcoins but same time if you see the investors point of that if sold and the price goes up and dont come down then what to do. So both traders and investors are correct on their respective ground of points.

Sold some more at 4200, and a little more at 4250... I'm not declaring victory yet, but the volume tells me the trap is closing.

You are just hallucinating about that bull trap FUD. Soon you will cry when left behind by the train of bitcoin. Bitcoin is now fueling up to beat it's all time high price. October is the date where bitcoin will create again another history.

Well bitcoin recovered even with the China crisis so this means this is not just FUD. It has been steadily rising day by day even by just a few dollars. There will always be dips in price since a lot of people who bought at the price dip a couple of weeks ago may want to cash out their earnings. For me, I just keep holding them coins because by the end of the year, for better of for worse it will still go up and I will still be making profit.

Last I check how the price of bitcoin now I lately check the price is 4100 k but after several hour it increase the price up 4200 how amazing be sure bitcoin will reach 5000k I wll wait for increase of bitcoin  :D

The price may reach those figures as you say,but bitcoin did not escape all the obstacles for this year as we are yet to have another fork this November and if that goes really well then all the obstacles are over and then the price will rise by December as usual,the price range at the moment is between $3000 to $4000 and if everything goes well it will reach another all time high by December.

No tears here.  I only play around with a tiny part of my hodlings.  If I'm wrong I win slightly less than I would have.  If I'm right, I get more BTC.  It's starting to look like I'm wrong, but I'm not quite ready to capitulate.  BTW, I have October 30th in the new ATH contest ;).

We are not in a bull trap, the price is really going up, there are a lot of support coming for bitcoin, this might be a new breakthrough for bitcoin, a new record. I think with all the positive news around, bitcoin will be accepted by a lot of people, and though there would be still some negativity around, we could not suppress the growth of bitcoin, if we check the history of bitcoin, its volatility is always a good thing, everytime there is a dip, it always bounces back, if it is a bull trap, and soon will fall, the best plan to do is, to do cost averaging. Right now, we can still not predict the movement of bitcoin, but what we can see right now, a real bull run, since a a lot of good news are coming in, and we should also not fear for a bull trap, we should develop a plan on how we can still profit, be it bearish or bullish.

The price is going down again. It went as high as $4500 but after that, the price slowly decreased. So its really hard to speculate if this is a bull run or trap. We haven't heard any negative news that's why one must think was is the reason for this dip. The price movement is really hard to predict as evident of the roller coaster ride we are experiencing. But I'm very optimistic that this is just another minor price correction and not a bull trap. I'm still want to see bitcoin having a massive bull run once again.

I do not see reasons for concern. Traders can always earn the profit so for them no matter how much is bitcoin. It is important for them to have permanent jump. Keepers of bitcoins is also no reason to worry because they were going to hold bitcoins for a long time. At the end of this year, we are already seeing growth of 400%. Let me remind you that the year is not over and they have good prospects to increase their capital. What's the problem?