Bulltrap? Or Bull run restored?

[Roccker]

From 3000 to 3600 btc/usd

Bulltrap? Or Bull run restored?







Bulltrap:
China closes exchanges and price rises?!

Bull run restored:
Bounced on weekly MA20

[richardsNY]

Impossible to say. I personally find it a bad initial sign to see the $3000 level get broken, even when it is just a brief moment. On the other hand, we've seen the market decrease significantly already -- a decrease of $2000 because of China is pretty insane if you ask me. I simply can't justify seeing the market fall back that much because of this, and for that reason believe it's a partial trap. Imagine how people must feel having sold around $3000, or slightly below that level, while a few hours later the market shot up to +$3700 -- classic whale play if you ask me. Let's give it some time to find out.

[vit05]

I know that will go down because I have bought some.

[socks435]

Ouch i just sold my few bitcoin because i thought that the price will going back to $2,500 i just sold my bitcoin i think around $3200..
What the hell looks like there are other investors that can manipulate the price remember china has a largest bitcoin farm that i think they can sell their holding anytime and let other people in china to buy a cheap price of bitcoin..
And i think this will the sign of burst increasing soon ..

[Jamitadson]

Ouch i just sold my few bitcoin because i thought that the price will going back to $2,500 i just sold my bitcoin i think around $3200..
What the hell looks like there are other investors that can manipulate the price remember china has a largest bitcoin farm that i think they can sell their holding anytime and let other people in china to buy a cheap price of bitcoin..
And i think this will the sign of burst increasing soon ..

I think it is better to hold now. After the Chinese exchanges are closed, they cannot manipulate the market any more. So the price will rise again.

[vit05]

Ouch i just sold my few bitcoin because i thought that the price will going back to $2,500 i just sold my bitcoin i think around $3200..
What the hell looks like there are other investors that can manipulate the price remember china has a largest bitcoin farm that i think they can sell their holding anytime and let other people in china to buy a cheap price of bitcoin..
And i think this will the sign of burst increasing soon ..

I think it is better to hold now. After the Chinese exchanges are closed, they cannot manipulate the market any more. So the price will rise again.

Why do you think they are manipulating the prices to go down? They need to sell so if they manipulated would be to go up fo now

[illyiller]

From 3000 to 3600 btc/usd

Bulltrap? Or Bull run restored?

Looks like a V-bottom to me. Beautiful test of the $3,000 previous top and the 20-week moving average. This daily candle should print a nice reversal doji. Some retrace from here should provide a nice, lower risk/lower volatility entry for those who weren't knife catching last night.

Still waiting on official word of closure from Huobi and Okcoin, but that seems unlikely to rock the markets at this point. Capitulation already happened on huge volume, so the bottom should be in for a while.

[DaMut]

Bull trap or bull run it does not matter,
The only thing that you need to know is,no matter what will happen to the price and others,Bitcoin price will always recovering back from the bottom.
It has not implemented yet,why would it crash this soon right ? Just keep holding it and you will get profit in the future.
It's very risky for you to do a pingpong in here,because the markets is unpredictable,and the weak hands already triggered by them.so it would be best for us to keep holding it and wait our profit come to us.

It is bull trap ? No,it's a sign for another bull run.
But we will see another leg down(probably)

[JimboToronto]

It looks more like the beartrap is closing.

[warr1979]

Ouch i just sold my few bitcoin because i thought that the price will going back to $2,500 i just sold my bitcoin i think around $3200..
What the hell looks like there are other investors that can manipulate the price remember china has a largest bitcoin farm that i think they can sell their holding anytime and let other people in china to buy a cheap price of bitcoin..
And i think this will the sign of burst increasing soon ..

I think it is better to hold now. After the Chinese exchanges are closed, they cannot manipulate the market any more. So the price will rise again.

Why do you think they are manipulating the prices to go down? They need to sell so if they manipulated would be to go up fo now

If they did not sell a huge amount of Bitcoin first, how to make the price of Bitcoin drop much like now?
You have to know whales are people create trend on the market, if they do not create that trend, we could not earn profit from this field.

[Oceat]

I know that will go down because I have bought some.

Don't worry mate it will back in the track, just trust your investments HODL as they say because this is the only way to get your profit back. Less hassle if you know how to handle it without of having such emotional panic because you've seen the price is getting drag down. It's such a quick dip if you watch it from far away. 

[socks435]

Ouch i just sold my few bitcoin because i thought that the price will going back to $2,500 i just sold my bitcoin i think around $3200..
What the hell looks like there are other investors that can manipulate the price remember china has a largest bitcoin farm that i think they can sell their holding anytime and let other people in china to buy a cheap price of bitcoin..
And i think this will the sign of burst increasing soon ..

I think it is better to hold now. After the Chinese exchanges are closed, they cannot manipulate the market any more. So the price will rise again.

Honestly already been sold my bitcoin but looks like the price will continue to increase back again and again.. taht is why there is are chinese said in the past few days that just hold bitcoin tightly because bitcoin will be back soon.. but people are just panic selling because they are seeing the price is continues increased but anyway i saw a good news here.. https://bitcointalk.org/index.php?topic=2179492.new#new

I know that will go down because I have bought some.

Don't worry mate it will back in the track, just trust your investments HODL as they say because this is the only way to get your profit back. Less hassle if you know how to handle it without of having such emotional panic because you've seen the price is getting drag down. It's such a quick dip if you watch it from far away. 

I didn't hold bitcoin tightly and i'm one of the weakest holder that is why i sold mine in the past few hours and now as i can seen the price are keep increase and i saw a good news in bitcoin discusion it means that we are just heard a fake news because the good news that they are just changing the regulation and sooner or later exchanges in china will be alive again with licensed.

[Kemarit]

From 3000 to 3600 btc/usd

Bulltrap? Or Bull run restored?

Looks like a V-bottom to me. Beautiful test of the $3,000 previous top and the 20-week moving average. This daily candle should print a nice reversal doji. Some retrace from here should provide a nice, lower risk/lower volatility entry for those who weren't knife catching last night.

Still waiting on official word of closure from Huobi and Okcoin, but that seems unlikely to rock the markets at this point. Capitulation already happened on huge volume, so the bottom should be in for a while.

I'm actually waiting from Huobi and Okcoin official announcement, being the top 2 trading exchanges in China, closure means that the massive nose dive will continue and I'm speculating that it can go as low as $2000. However, we see a dramatic rise today. I'm still trying to understand what brought this price to go to very quickly. I don't know if this is a trap or dead cat bounce. However we can all sleep and relax again after a weeks carnage. I haven't sold and bought bitcoins though, was out of funds but can bought it about few days. But the buying point is no longer there. But at least really nice to see bitcoin rebound once again.

[snowdropfore]

i think  Bull run restored ,on one can stop bitcoin train ,even china .ok and huobi is done now ,the worse news is over ,that is good news ,so the price will be recover soon.

[BitMaxz]

Looks like not a bull run restored the price was decrease again slowly and i think there are just someone are investing in bitcoin because bitcoin right now is really cheap.. Or we are seeing price drop because there are traders are bought bitcoin when the price of bitcoin is around below $3k and selling right now when the price was it $3700 well i think its normal but hoping that those who bought bitcoin in cheap price will holding it tightly because sooner will boost increase the price of bitcoin or people will regret once the price hit 4k value back soon..

[CyberKuro]

Too early to say bull run or bull trap since people always looking for profits by sell at higher peak and buy back at the dips.
$3600 isn't a bad price and it seems as median price, a sign of recover to $4000.
It's sad to see many people involved in massive sell off only because China government push exchanges to close their operations, it's has been done before in the early of this year, but maybe they will ban bitcoin this time indirectly by shut down exchanges.

[hello_good_sir]

From 3000 to 3600 btc/usd

Bulltrap? Or Bull run restored?







Bulltrap:
China closes exchanges and price rises?!

Bull run restored:
Bounced on weekly MA20

I'm not sure. Could really be either option but i'm leaning towards bull trap here. It may be just a short term upward adjustment in price before further corrections come into effect and potentially push bitcoin down under $3000 for a long time.

Anyways, there seems to be a lot of sideways movement in price right now.

If it were a start of antoher bull run then it should be breaking $4k by now, that's my logic behind thinking that it's a bull trap.

[player514]

From 3000 to 3600 btc/usd

Bulltrap? Or Bull run restored?







Bulltrap:
China closes exchanges and price rises?!

Bull run restored:
Bounced on weekly MA20

There definitely is a bit of a rebound going on right now. I think a lot of it is coming from the fact that China gave some exchanges another month to run. I'm not sure what that means in the long run, but perhaps China was trying to test their power in the BTC markets? It's absolutely possible that they just want to shut down certain exchanges for whatever reasons. Who knows, maybe they're trying to tax BTC. We'll have to really wait and see what goes on. For now, what we know is that BTC is rebounding.

[yrtrnc]

If the Chinese decide to cash out we will see a new bottom imho

[vit05]

If the Chinese decide to cash out we will see a new bottom imho

The thing is, can Chinese cash-out? Will exchanges have the CNY for all? I know if the opposite happens and people would decide cashed out fiat from the bank in just one month, the safes would end before everybody gets their money.