Bear trap or continuing upward trend??

[groko271]

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

[1715151023]

1715151023

[zzSunZZ]

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.

[mk4]

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.  

No signs of crashing again for now though.

[onrise]

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.

[mostkey]

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
 

[CataloniaFM]

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

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.

[Glory90]

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

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

[ipanks]

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

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.

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.

[DaMut]

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.

[VanDeinsberg12]

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.

[nasibakar]

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.

[gribble]

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.

[Catmony]

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.

[CraigWrightBTC]

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.

[dothebeats]

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.

[jtipt]

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.

[streetlight]

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.

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.

[nskendrovic]

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.

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.

[Reid]

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.

[dunfida]

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.

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.