Why i think BTC is a bull trap atm!!!!

[vladimir21]

main support level looks at like at 10800 at this moment

[timerland]

- Bad news still around for btc from all corners, but suddenly it jumped from 9,200 to 12.000 if you see the history at highest volume btc exchanges, you see some people bought it in high volumes upto 2000x btc in 1x around same time.
- Futures contract expires Jan 28
-low volume, crash scared a lot of people
- look like ascending triangle
-Tether keeps being printed everyday by 50-100million, and backed by usd. To me it looks like
someone is buying BTC with fake/printed coins.  = Bigger btc manipulation trap.  = these huge btc jumps can only be caused by massive manipulation

It's all speculation right now and nobody knows for sure. Obviously it could be a bull trap and we're seeing the adjustment already, but i think that even if it is, it's going to go up first, to something like $20k and new all time high, before it gets dumped to the ground.

Plus, the counter arguments are there. We've seen these big dumps along the way so many times. It could just be one of those.

But this crash is definitely more scary because of the fact that bitcoin broke $10k, and a lot of people thought that it was over. I think if so many people bought in at such a short period of time and the price was rescued up to $10k+ so quickly again, it means that to break $10k again would be extremely difficult to do.

[Kaller]

I'm just gonna leave this quote from OP in here in a topic shouting  "SELLL!!!!!!!!!...."

Now we're at $9846, soon at $7000. Don't believe? Just wait

Good catch! The dip was temporary and the price has recovered quite a bit. It's not a bull trap.

[Enjel]

main support level looks at like at 10800 at this moment

Hard support level at $8k - $9k. Everything above is fine, and should bounce back.

[shinjunobi09]

I don't think someone is manipulating the price and demand of bitcoin. I mean what could be his/her ulterior for doing such things, or what could he/she possible gain for doing such things, I mean before we think these kinds of possibilities we should think of the reasons why because there is always a purpose for such.

[arpon11]

The bad news about bitcoin and regulations issues all over the world is what is actually affecting bitcoin and other coins. The price has been trap for the past three days and there us a lot of uncertainty in the market. I think and I agree with op that it will take a very serious manipulation before bitcoin can push forward and I think such need to be done. If there is no serious manipulation then don't expect anything positive to happen this year.

[SONG GEET]

Every dump/correction used to be followed by another similar type of dump before price start to surge again.

So I am also expecting bigger dump for second time after the last one.  I don't trust USDT so I am holding majority of my assets in USD to buy back coins at massive discount soon.

[The Scorpion]

Keep screaming, its funny.

Exactly... why does he think that it is a bulltrap? it is not trap, it is not anything. This is just manipulation, the big whales are making huge amounts of money just for shorting - opening long positions. That is why they are using bitcoin to create a rollercoaster.

[Denker]

Keep screaming, its funny.

Exactly... why does he think that it is a bulltrap? it is not trap, it is not anything. This is just manipulation, the big whales are making huge amounts of money just for shorting - opening long positions. That is why they are using bitcoin to create a rollercoaster.

That's not manipulation. That's how markets work. Like it or not.
And right now the sentiment is bearish.
If you would have deep pockets don't tell me you wouldn't play this game as well.
The market offer this vehicles and opportunities for trading to everyone.It's just that big guys with lots of money always have an advantage. This is no different if you would have a shit ton of chips at the poker table.

[vladimir21]

24th january will reach 9000 i believe

[poor-yorik]

The bad news about bitcoin and regulations issues all over the world is what is actually affecting bitcoin and other coins. The price has been trap for the past three days and there us a lot of uncertainty in the market. I think and I agree with op that it will take a very serious manipulation before bitcoin can push forward and I think such need to be done. If there is no serious manipulation then don't expect anything positive to happen this year.

I think people exaggerate things a lot. Regulation may be tough but no one speaks about outright ban on crypto, at least not in Europe or US. Any real ban will only decouple crypto from fiat completely and likely lead to the creation of parallel payment structures. It would definitely kill speculation but isn't that what many old-school bitcoiners want anyway?

[vladimir21]

looks like my prediction is coming out again, i say 9k is possible on 24th january

[vladimir21]

as long as tether stays around and keeps being printed btc will always been manipulated, their offline wallet and richlist can still be seen. You can clearly see there how it is being printed

[DustyRah]

The only point that worries me is the last one. News can make the price go up or down and are somewhat unpredictable, I don’t see the point about futures, volume can change at any time and graphs can look many ways depending on your imagination.

Let’s see how the Tether thing ends up though, I’ve seen people defending it’s not fake money but it doesn’t look clear to me.

It does not matter if Tether is fake or real money. What matters is that there is no anonymity with Tether. One of the key principles behind crypto is anonymity and global usage which Tether clearly fails. And how exactly is Tether going to work when billions of those are issued, they have billions of $ lying around to make this happen? At the end of the day, Tether is a ponzi scheme exactly like banks, pushing out multiple times what they have in reserve so in fact its not backed 1 on 1 by fiat. What will happen is they will take the $ and invest it out and if they get jacked, everyone holding Tether gets jacked.

[DustyRah]

looks like my prediction is coming out again, i say 9k is possible on 24th january

No one cares about your prediction because time and time again people predict stuff about Bitcoin and end up getting shot in the foot. Of course if you predict one out of two things, one will come true and its possible once in a while your 'prediction' may come true.

Only fools try to predict BTC's value which is relies on extremely complicated factors at this time.

[kwukduck]

as long as tether stays around and keeps being printed btc will always been manipulated, their offline wallet and richlist can still be seen. You can clearly see there how it is being printed

I suspect within a few weeks the whole tether scam will collapse and the news will be all over it.
It will trigger a bitcoin sell-off like we've never seen before when people realize that 90% of the market cap of bitcoin is fake printed tether money.

[vladimir21]

as long as tether stays around and keeps being printed btc will always been manipulated, their offline wallet and richlist can still be seen. You can clearly see there how it is being printed

I suspect within a few weeks the whole tether scam will collapse and the news will be all over it.
It will trigger a bitcoin sell-off like we've never seen before when people realize that 90% of the market cap of bitcoin is fake printed tether money.

Exactly btc rise to 20.000 is mainly duo to printed tether.

[Scripture]

I think the dip now is just some isolated case and the bitcoin starts dipping, when the bitcoin price goes up, no one bats an eye , when it jumps down, everybody loses their minds.well, i am also frustated about the bitcoins dip but I think it just a part of the bitcoin's huge volatility movement and yeah, im sure futures doesnt have a business with this.

[figmentofmyass]

the bull trap was the bounce to $17,000. 2018 so far has just been continuation of the downtrend. my thinking (based on time) is that we are nearing the end of the correction phase.

im hoping that we can undercut the previous lows in the $9000s first, though. people have been extremely bullish off those lows (and shorts have been steadily decreasing ever since the top near $20,000). that tells me that people are generally long and that the direction of maximum pain is definitely downwards.

a nice stop run below the last lows (perhaps to support near $8,400 or $8,800) would be perfect.

I suspect within a few weeks the whole tether scam will collapse and the news will be all over it.
It will trigger a bitcoin sell-off like we've never seen before when people realize that 90% of the market cap of bitcoin is fake printed tether money.

i've been waiting for tether to collapse for a long time, and i suspect we'll be waiting a while longer. the beauty of never redeeming tether for real money is that regulators can't find tether's bank accounts. if tether ever starts redeeming USDT for real money again, the music will stop.

still, just like the willy bot, i doubt that tether fraud would cause a collapse of bitcoin. on the contrary, if tether drops to zero due to lack of confidence but bitfinex remains intact, that's cause for crypto prices to rise, since crypto is the only real exit from tether.