Bitcoin Breakout or Fake Out?

[CriptoNill]

Bitcoins have always been at the top of the market. Even with a dip, its popularity did not fade. We just need to be a little bit more patient, wait for the conditions to improve and retain our investments. The low price should not put us in a panic mode because the market will improve soon.

[1713949289]

1713949289

[1713949289]

1713949289

[1713949289]

1713949289

[1713949289]

1713949289

[juliehunt07]

That's a very good news. I am not sure if it is bull market or not. But this will definitely bring positivity in the market.

[Denker]

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.

I'm not convinced yet. Just a small bounce imo. We are not out the woods yet.
We are still in the accumulation phase which could last much longer than many here expect.
So investors and hodlers and need more patience. For day traders this moves are always welcome as they are making money with those kind of volatility.

[alinalovedoogie]

We need to be patient and have faith in our strategies because we know that the market will recover from the downward slope and the prices will go up again. And without a single shred of doubt, bitcoins are the best in the market and as soon as the market recovers, the prices will skyrocket and our investments will be worth it.

[billsted86]

I'm not seeing it as a trip. It has been so low for long time. I'm not saying its a bullrun, I hope it will come to very quickly. It has gone beyond the $6,000 rate. But for now, price recovery is the best word for it after the huge drop. Some people sell panic. This reason the price of bitcoin are going down every day. Bur I really belive that it will reach high price soon.

[greenvally]

Bitcoin is a great coin for invest. So many people’s are connect with this site. In near future i think its popularity will more increase. For achieving their goal they need to maintains their performance.

[elncrow]

I don't think it is a trap. The market has gone enough low and this the time for it to recover. I am happy to see this pump and hope that they will continue this process of recovery.

[websoftwareengineer]

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 own opinion, there is no bull market this few months ago because the market price is continuously decreasing but we can still hope for the market price to grow anytime due to demand of people that can soon ignite because of the low prices in the market.

[gabmen]

I don't think it is a trap. The market has gone enough low and this the time for it to recover. I am happy to see this pump and hope that they will continue this process of recovery.

Pump? It's neither a break out nor a fake out. I think it's just a regular market movement with a couple of twitches from the big fishes. Though this is a good sign for everyone reeling from the bearish trend that's mostly happening :p

[BlueStackz]

This is not a break out? Break out doesn't happen this small, it usually happens like a huge rise in the price. Going to 6k is not a huge spike like a breakout would. Altcoins that gets pumped and dumped shows a break out, they get like %80 price rise in one day, than drops like crazy the next day.

This is just price correcting, if the price goes up or down too quickly than the price corrects itself at one point. Sometimes its just couple bucks, sometimes hundred bucks but at the end of the day the "too quick" movements gets corrected for both directions.

[LuciferEveningStar]

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.

The price of bitcoins has pumped immediately because there are whales who are just waiting for the price to dump very hard before hoarding a huge amount in order for them to earn more profit.

[el kaka22]

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.

In the short term indication, there is nothing to know and best is to just wait for the market to develop before even making any possible move. The reason why we are not seeing much volume in this market is because we are in a downtrend anyway, and simply no matter the short pump that we get to see, a lot of traders are being very careful to make any moves. Simply put, the best is to relax and see how things play out. It could be a fake pump, and it could be the market in need of some volume, but so far, nothing is certain.

Personally I would not consider anything yet. During downtrends like this, it is always necessary to be scared of any possible breakout and allow the market to settle down and show possible direction before hopping in. With the past situation of the market and in the possibility of seeing a lot of manipulation, it makes a lot of sense to see how the market breaks out and plays out before making any attempt. Like you said, it is a pump and it can end up being dumped.

[Caladonian]

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.

The price of bitcoins has pumped immediately because there are whales who are just waiting for the price to dump very hard before hoarding a huge amount in order for them to earn more profit.

They are just watching how speculators moves and how traders and investors played with the volatile market, after that whales will just point the directions and all of us don't any other choice but to play with them or stay way from them, this small pumped cam boost some newbies to invest
and try it as well, just need to have courage and used spare money so just in case things won't go to our directions it won't stress us much.

[Soots]

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.

The price of bitcoins has pumped immediately because there are whales who are just waiting for the price to dump very hard before hoarding a huge amount in order for them to earn more profit.

They are just watching how speculators moves and how traders and investors played with the volatile market, after that whales will just point the directions and all of us don't any other choice but to play with them or stay way from them, this small pumped cam boost some newbies to invest
and try it as well, just need to have courage and used spare money so just in case things won't go to our directions it won't stress us much.

Nothing will stress us out on this scenario and encouraging everybody can be a definite ways to overcome the anxieties, that most people are looking on these days when price fluctuates. Their mindset doesn't have the confidence to have self control even though the whales played and important roles with cryptocurrency. I suggest for those newbies in crypto to be strong and develop that self reliance even though more groups wanted the bear market to grab bitcoin at falling value, for the fulfillments of their personal intensions.

[timerland]

We may see prices go temporarily above the $7k mark, but I doubt that this is the start of the recovery.

So if you are referring to a breakout as the start of the recovery or the start of the next bull market, then no, I don't think that at this stage we can say that is going to happen yet. There is simply still no momentum in the market, and the $10k resistance was proven to be very strong last time we tried to test that level.

I think that we may see a short term bull run though. I'm still not 100% certain on $6k being the final bottom of this bear market, because we've seen much longer bear markets on average. Thus, it's probably not a very good idea to be overly optimistic right now, although it's definitely a great time to accumulate and fill your bags.

[NIuok]

Today's market is full red, I am really confused about the market, what is the reason for this decline?

[Eros1on]

The BTC has resumed its downward path, and if it cannot stand on its feet for $6,000, the encrypted bear market could last for years.

[naidray]

This is not a break out? Break out doesn't happen this small, it usually happens like a huge rise in the price. Going to 6k is not a huge spike like a breakout would. Altcoins that gets pumped and dumped shows a break out, they get like %80 price rise in one day, than drops like crazy the next day.

This is just price correcting, if the price goes up or down too quickly than the price corrects itself at one point. Sometimes its just couple bucks, sometimes hundred bucks but at the end of the day the "too quick" movements gets corrected for both directions.

It is even obvious already with the way things have turned out. It was more like a fake break out as far as I am concerned, and it is normal to see cases like this during downtrends most especially when there is huge manipulation in the market to send the wrong signals to some new investors and some few traders who are just trying to gamble the market. This was a short one upward which possibly has ended up forming a rising wedge with the buying momentum dropping further.

[butterfly8226]

Every coins in the market is suffering for price based on this situations we need to understand this things more because of demand and supply many things is related also this its very good to know you wants to learn something about this crypto market which is really good initiative.

[Ayiranorea]

Bitcoin price pumping taking place at present is the gradual growth which is expected to take place long ago, but it has been taking place now with more support from different sectors in large scale. From the growth it has been taking place, I never find it a fake out.