ARE WE REALLY SEEING BULL RUN OR TRAP IN BTC MOVE

[triciaa478]

This is not a bull run market but what is happening now is part of the uncertainty in the market. A bull run won't see bitcoins got to 8000 and return to 7000 and 6000. The ETF speculations wanted to give bitcoins a bull run but it didn't goes through and bitcoins is back to its 6000 to 7000 range.

[TooDumbForBitcoin]

I believe that the market will quickly approach the bull after the SEC's choice has positive outcome but if the result has a harmful effect. Most probably the bitcoin market will stay fluctuation even it might go down yet again.

We don't need this ETF garbage, SEC will defining the position not this year. Please look on the technology and infrastructure development instead

[magneto]

Bitcoin since touched $5800-6000 area has not really clear to many if we are in bull market or it just a mere run to make noobs or newbies FOMO, and looking at it TA which shows it has not been on same lane even with FA but many says it's manipulation and crossing $5800 area below has been a major support but many think it should break it, so am wondering if we are getting close to bull market or we are just in swing market for now.

I don't think that we're looking at the bull market at the moment.

Even though prices did go up drastically over the last few weeks, from the low of around $6k to $7k+, there is still simply not enough momentum and bullish sentiment within the market to say that this is going to become a long lasting, full on bull market like last year. We're still extremely far from that.

It's not really a bull trap as there is not really any FOMO at the moment when it comes to buyers, and prices simply have not risen that much at all. However, I definitely think that this rally will only be temporary and a correction will come sooner or later (probably before BTC gets close to $10k), as the bear market has still got some more time to go.

[Aikidoka]

I think the market will soon approach the bull after the SEC's decision has positive results but if the decision has a negative effect, maybe the bitcoin market will remain swinging even it could go down again, so we just wait until September or October for good or bad news

Or maybe if the big whales want bitcion to go down because they are the ones who are manipulating the price. I really expect nothing less from them. They control the price and manipulate it to the way they want it to be. Added to that statement, people always need to support bitcoin by buying it because the more you buy people, the faster the price grows. So, it is just a matter of time until the price continue to grow.

[kylepatrick]

The market conditions is very well,  and I have to agree that bitcoin is playing a very important role in that but yes you could call it bull market yet,  bull market needs bit more high prices so we can hope that situation will be more improved.

[arsenti]

I believe that the market will quickly approach the bull after the SEC's choice has positive outcome but if the result has a harmful effect. Most probably the bitcoin market will stay fluctuation even it might go down yet again.

We don't need this ETF garbage, SEC will defining the position not this year. Please look on the technology and infrastructure development instead

I also like to remind people to look at what has been build so far but few care about these depths...the masses is looking for signals from the regulations because they "know" that if there is green light then the big money is coming in...they might be right though.

[fabiorem]

Trap. A big one.

[marcbitcoins]

Bitcoin since touched $5800-6000 area has not really clear to many if we are in bull market or it just a mere run to make noobs or newbies FOMO, and looking at it TA which shows it has not been on same lane even with FA but many says it's manipulation and crossing $5800 area below has been a major support but many think it should break it, so am wondering if we are getting close to bull market or we are just in swing market for now.

I think no one can really predict the Bitcoin future and that is why it was very risky because the price is really unpredictable but i wish that the Bullish market will start now because if it will not happen with these 4 months left then i'm afraid many people will leave this investment by next year as they lose their interest on investing in Crypto especially in Bitcoin currency.

[timerland]

Bitcoin since touched $5800-6000 area has not really clear to many if we are in bull market or it just a mere run to make noobs or newbies FOMO, and looking at it TA which shows it has not been on same lane even with FA but many says it's manipulation and crossing $5800 area below has been a major support but many think it should break it, so am wondering if we are getting close to bull market or we are just in swing market for now.

First of all, a bull run and bull trap isn't really mutually exclusive. Usually, a bull trap is opposed to a legitimate recovery, leading to a bull market.

If we go by these definitions, then I definitely don't see this rally going beyond $8-9k, because of the resistance that was seen through the last few attempts at breaking out. Referring back to the 2014 bear market, we can also see that it took the market around one and a half years before it was actually nearing recovery, a timeframe which I think is going to be approximately the same for the recovery this time as well.

The bearishness within the market is very unlikely to be reversed just by this small pump with no real apparent reason behind it. IMHO, we'll see further dips and corrections throughout the rest of the year, before we see any major recovery within the markets.

[glowing10]

What are you talking about is a mere past talk. BTC price today is more than $6700 and slowly will outreach $7k, I assume. BTC is on the rise now and maybe it will be rising slowly till the end of the year.

BTC has moved up and trading at 7250$ so it is moving up. Had it being a bear trap it would have already fallen and not rose till 7k above levels. So it is a moment to start buying at this levels rather than regretting later that you not bought at lower levels.

[Sony.UK]

I think last year is the most forgetable year in bull run trap because no one is expected this marketcap. BTC is the right
Platform for good move in crypto market, we are seeing the recent market status Bitcoin is slowly move to forward so it is best example of bull run and everyone increase the Bitcoin investment so stay in a positive move of crypto market.

[exstasie]

Bitcoin since touched $5800-6000 area has not really clear to many if we are in bull market or it just a mere run to make noobs or newbies FOMO, and looking at it TA which shows it has not been on same lane even with FA but many says it's manipulation and crossing $5800 area below has been a major support but many think it should break it, so am wondering if we are getting close to bull market or we are just in swing market for now.

First of all, a bull run and bull trap isn't really mutually exclusive. Usually, a bull trap is opposed to a legitimate recovery, leading to a bull market.

If we go by these definitions, then I definitely don't see this rally going beyond $8-9k, because of the resistance that was seen through the last few attempts at breaking out. Referring back to the 2014 bear market, we can also see that it took the market around one and a half years before it was actually nearing recovery, a timeframe which I think is going to be approximately the same for the recovery this time as well.

The bearishness within the market is very unlikely to be reversed just by this small pump with no real apparent reason behind it. IMHO, we'll see further dips and corrections throughout the rest of the year, before we see any major recovery within the markets.

I usually consider three types of markets: bull markets, bear markets and sideways/range markets. Outside of the context of bubbles, markets range most of the time.

In that sense, one of the scenarios I'm leading towards is a range market. This is probably a bull trap in that we aren't entering a bull market yet, and there will probably be quite some time before we escape the negative sentiment. But I also wouldn't be surprised if the brunt of the bear market is over, and we don't see new lows in the $5,000s. Time will tell.

If we break $8,500 that's the first higher high since the crash. That could be the beginning of an uptrend.

[aso118]

Bitcoin since touched $5800-6000 area has not really clear to many if we are in bull market or it just a mere run to make noobs or newbies FOMO, and looking at it TA which shows it has not been on same lane even with FA but many says it's manipulation and crossing $5800 area below has been a major support but many think it should break it, so am wondering if we are getting close to bull market or we are just in swing market for now.

We have crossed $7000 as well in a matter of a week. You should stop wondering whether it is a bull trap or the start of a rally. If you want to make money by trading, then these might present good opportunities. But the bigger picture is what do you think is the long-term trend in Bitcoin. Think of the appreciation over a 2 year period.

[justspare]

What are you talking about is a mere past talk. BTC price today is more than $6700 and slowly will outreach $7k, I assume. BTC is on the rise now and maybe it will be rising slowly till the end of the year.

BTC has moved up and trading at 7250$ so it is moving up. Had it being a bear trap it would have already fallen and not rose till 7k above levels. So it is a moment to start buying at this levels rather than regretting later that you not bought at lower levels.

Had it been a bull trap you want to say ?

You may have a little bit of point in that, but at the same time, the fact that you have not seen it lower now does not mean it still cannot go lower. The only time the optimism of the market would change a little bit is to see bitcoin go above $8000 and be able to withhold on that price for a while, but from the look of things so far, I really do not think so and we would be lucky even if we reach $8k.

Bull trap in case you do not know the meaning, is when the market is moving in a direction where a lot of traders are hoping for a bullish momentum and all of a sudden starts dumping rapidly. We are not still far from it bro as this can still happen anytime.

[prtty2gal2]

I believe that the market will quickly approach the bull after the SEC's choice has positive outcome but if the result has a harmful effect. Most probably the bitcoin market will stay fluctuation even it might go down yet again.

That is still an assumption of hope and we cannot categorically just state that would be the case because what if it does not happen. I share the same opinion with the OP and it is normal for anyone to stay vigilant when it comes to the present market so they do not end up being a victim of a bull trap.

We could end up experiencing some upward movement, but that does not change the fact that we are still in a downtrend in longer time frames. We just hope we get to see how the market would end up positive if indeed the ETF approval ends up positive.

[Bitcotalk]

Trap. A big one.

I see it as a very big one as well since a lot of newbies just keep believing this market is ready for a bull run because of this recently or ongoing upward movement.

We really do not have that much volume yet and the market still tends towards the bear angle as the case may be which makes it a lot more like some people are really going to get trapped with the hope that something big or huge would come out of this move. We may not be able to predict any future, but I still see further lows before the end of the year.

[ivannalog814]

Friends we just need to be patient reversal is very, very close ! You just have to be patient and believe in this great idea !

[maarx]

Expecting the bull run should soon start up.The current trend is not so bad nor so good. Its like last month's trend kept on repeating if you look at. The last dump should have been the last dump. This is what everyone was predicting comparing last year's growth trend. But just look at the current status. We had a good hike and it sustained for few days not more than 3 days, but then unexpectedly there was a huge dip. What will you predict now. But yes to move with positive attitude, lets hope for the best to happen as we are nearing to the end of the year. 

[fabiorem]

I see it as a very big one as well since a lot of newbies just keep believing this market is ready for a bull run because of this recently or ongoing upward movement.

We really do not have that much volume yet and the market still tends towards the bear angle as the case may be which makes it a lot more like some people are really going to get trapped with the hope that something big or huge would come out of this move. We may not be able to predict any future, but I still see further lows before the end of the year.

We will stay in the bear market as long as we stay below 10k.

Only above 10k we can talk about bull runs.

[r32godzilla]

Bitcoin since touched $5800-6000 area has not really clear to many if we are in bull market or it just a mere run to make noobs or newbies FOMO, and looking at it TA which shows it has not been on same lane even with FA but many says it's manipulation and crossing $5800 area below has been a major support but many think it should break it, so am wondering if we are getting close to bull market or we are just in swing market for now.

We are just in the swing.If newbies do the same mistake which many new investors did by buying when bitcoin's price was at ATH of 20,000 and now regret.A nd this move now doesn't seem to be a bull run and it's just another fluctuation.