Bitcoin Breakout or Fake Out?

[boyshx]

Bitcoins price suddenly pump. What do you think? is this the start of Bull Run or just a Bear Trap?

there was no "pump". it was a rise. just because price increased doesn't mean it is a "pump".

additionally this was more like a recovery after a hard drop and also because price went below the strong support like at $6000 so it had to be corrected and price needed to come back up. it doesn't indicate any bull/bear run/trap or anything. it is just recovery!

With that said it tells us how hard it is to really talk about the market terms. I was really hoping that this is kind of bull run because of the prices hiking all by 10% upwards. I know the fact that bull run is defined by the price rise of 15% but 10% price hike from the yesterday's movement really got my attention at it. May be there needs some correction surely, but that is also poorly defined term. Many times when bitcoin drops then also we use the term "bitcoin correcting itself", so its pretty awful which one is right and which one isn't. 

[colkcolk]

For short term, I do not see a clear indications whether the trend is still bearish or to reverse for bullish. If the trend is still bearish, surely it can be said bear trap but for long term I still see this as good investment while the price is still low.

[JerryJam]

After a long fall in the price of bitcoin, it began to gain momentum. That's good news.I see several reasons for the rise. There are some traders who consider the growth of bitcoin unjustified but they do not have the ability to influence the exchange rate.They will sell their investments and leave the market.There's another reason.This is insufficient liquidity.In the case of past rises, the cryptocurrency was owned by a small number of people.Sales were small. And that led to the rise of the course.

[iamMhew]

Bitcoin only raise a little bit and not to be considered as pump. Because bear marke is still going on,   and the bull run market is never had a clue to came out. It can be considered as a correction and nothing breakout or fakeout on this. Suddenly this raise comes to fall and dont really had a pump. But i think after that long term waiting in bitcoin price, pump come very soon.

[Coffee135]

It seems to me that it is impossible to turn on the pump at once. Bitcoin should slowly but steadily gain price and then positive sentiment will do the job. The prices were in a very long fall in order to restore confidence in bitcoin it takes time. Prices do not rise spontaneously. I do not see any conditions for recovery in the cryptocurrency market.

[nioctiB#1]

Bitcoins price suddenly pump. What do you think? is this the start of Bull Run or just a Bear Trap?

Edit:
https://imgur.com/a/0KVGgHI

sorry don't know how to post image, still kinda noob. Also for the terms im bad at it.
trying to learn.

I dont think that it is a pump because it is just a small recovery after a huge fall to correct the price. And I also dont think that it will start a bull run any time soon and it will remain on that price leve 6200-6500 usd. But who knows. We are all speculating the price and we cannot accurately determine on what will be the status of bitcoin for the next few days and months. But surely will have a run.

[Mandoy]

Bitcoins price suddenly pump. What do you think? is this the start of Bull Run or just a Bear Trap?

Edit:
https://imgur.com/a/0KVGgHI

sorry don't know how to post image, still kinda noob. Also for the terms im bad at it.
trying to learn.

It is hard to tell if it is a breakout or a fake out. If you are going to check the volume you will notice that there are only a little volume being traded and this means that the seller are holding more bitcoins while the buyers only bought few bitcoins. Since there are no support nor resistance it is hard to foretell whether its gonna skyrocket any minute or gonna crash any minute.

[bycocoricos]

People think the move had something to do with CME contracts running out.

[wizmo]

I think it was price correction and bitcoin price will be around 6k to 7k for a month or so then we may see bull ran but it's just a speculation there is no reason to believe it as we can't predict the market. 

[cryptodalton]

The price of bitcoin always fluctuates. There's nothing called 'pump' to it and nothing is fake. It either rise or fall. However, I'm happy that the price rises and I hope the price will have good growth further.

[DonFacundo]

Who knows if that is bull run or a bear trap, but for me maybe it's a good sign to start recovering the price of bitcoin this month of July.

[Idrisu]

I was thinking that it was a breakout but currently it is turning to be fakeout. However it might still continue: I suspect that traders are taking profits and that is why it could not push on. I also expect bitcoin to make positive upwards movement from this July as this is what happens last year and some years before.

[lablab03]

Bitcoins price suddenly pump. What do you think? is this the start of Bull Run or just a Bear Trap?

Edit:
https://imgur.com/a/0KVGgHI

sorry don't know how to post image, still kinda noob. Also for the terms im bad at it.
trying to learn.

in my opinion this small pump is not a bull trap which is a adjustment of price to me before to bullish again . 'cause as we noticed it always pump back to 6k level after it fluctuate below , which is a big sign to bull again Imo.

[Sony.UK]

Who knows if that is bull run or a bear trap, but for me maybe it's a good sign to start recovering the price of bitcoin this month of July.

Every year crypto was move to forward in August 25 so this year also it will raise in that month. May be we should expect some good sign in this month but continuous pump is surely possible in September. So this is the right to invest in crypto but some peoples are stay away in this platform so it is looks like a bear trap.

[Sungoku]

Who knows if that is bull run or a bear trap, but for me maybe it's a good sign to start recovering the price of bitcoin this month of July.

Every year crypto was move to forward in August 25 so this year also it will raise in that month. May be we should expect some good sign in this month but continuous pump is surely possible in September. So this is the right to invest in crypto but some peoples are stay away in this platform so it is looks like a bear trap.

Yes for that, especially if bitcoin goes to the moon again for this year I think it's impossible, so look later after next half remember the supply will be very little longer it will surely push the price up sharply, but we should also be able to see the analysis about that matter.

[Barbut]

Who knows if that is bull run or a bear trap, but for me maybe it's a good sign to start recovering the price of bitcoin this month of July.

Every year crypto was move to forward in August 25 so this year also it will raise in that month. May be we should expect some good sign in this month but continuous pump is surely possible in September. So this is the right to invest in crypto but some peoples are stay away in this platform so it is looks like a bear trap.

Yes for that, especially if bitcoin goes to the moon again for this year I think it's impossible, so look later after next half remember the supply will be very little longer it will surely push the price up sharply, but we should also be able to see the analysis about that matter.

When we know that until now bitcoin had every next year better then previous why there is so many people who don`t believe in bitcoin bright future? Why so many people come here on forum, register and post this kind of topics, breakout or fake out, what that suppose to mean? Now we need to explain to people again how bitcoin have a nice future, and very small chances to fade away. Constant fluctuations in price can be explained, but only after everything happen. To predict next rise or drop is possible for some people, mostly whales who manipulate with that and earn money from that, get use to it.

[Phil2018]

Thank you for the link. Well, I will tell you that it is just a trailer. BTC has started to recover its price. Soon the bull market will be started in a full power. I hope that BTC will be able to recover its total price within the end of this year.

[Outsider07]

I think this would be the start of bull run. Bitcoin along with other cryptos are fightig against the market from last few weeks. But just from today, it has been changed its position. However, I think it will bring some juicy fruits for the investors.

[Mahanton]

Bitcoins price suddenly pump. What do you think? is this the start of Bull Run or just a Bear Trap?

Pump? It's not a pump, the price are increased just a little.
It's a normal movement about the price to fluctuations, we need to wait more time to see bitcoin will recover.

Dont know why people cant able to identify a pump and a normal price increase? Those candles doesnt signify a pump but rather a common price rise movement but it doesnt mean we are heading to reversal. Bear trap? Isnt an appropriate word to be used because we do might definitely see a bull trap.

Bull trap- fake outs of prices when it tends to go up and thought it would pump or continue to rise up but later on it do drops out instead
Bear trap- opposite way.

[XCANA]

Well, i don't believe that it is a bull traps in other swallow some people's money but it is the real break out after a long period of time that we all waiting for such move. There is a difference between pump and the normal increase in the market value of Bitcoin base on the current candles stick formation we have seeing so far.