How do play this momentum?

[timotron]

Is this another bull trap? Or first sing of bull market beginnings?

My strategy is the following:

Bet on trends, holding and selling tops (try at least), re-buying at few % drops, wait till next station.

Once made some profits, bet on other coins which did not start the uptrend, or are at the beginning of the up-trend.

Attention with people selling ALTs for $BTC !! Don't forget the Stop-loss!

Good luck all!

[tdrinker]

Is this another bull trap? Or first sing of bull market beginnings?

My strategy is the following:

Bet on trends, holding and selling tops (try at least), re-buying at few % drops, wait till next station.

Once made some profits, bet on other coins which did not start the uptrend, or are at the beginning of the up-trend.

Attention with people selling ALTs for $BTC !! Don't forget the Stop-loss!

Good luck all!

I won't start thinking this is too positive until BTC price breaks $4500, that for me would be a big signal that a reversal is near or already in progress. This is one of the first times in the last few months that BTC (and the whole market) has had a day of big increases, followed by a lull and then another day of big increases. Previously it had always been big increases followed by a slow slide back to the previous support level.

So my strategy is hold and wait, but at least enjoy seeing some green!

[Kemarit]

If you want to go aggressive then OP might fit your bill. But if you're not sure of what to do because this might be a bull trap then I guess is just to hold and wait. For me breaking $3800 will be a big psychological test and so if it could build a momentum to $4000. Waking up with a good pump was always a thing to behold specially with what we witnessed in almost a year. But don't celebrate yet but scramble and look at what strategy your going to implement before everything breaks loose. 

[cryptocrusher]

If you want to go aggressive then OP might fit your bill. But if you're not sure of what to do because this might be a bull trap then I guess is just to hold and wait. For me breaking $3800 will be a big psychological test and so if it could build a momentum to $4000. Waking up with a good pump was always a thing to behold specially with what we witnessed in almost a year. But don't celebrate yet but scramble and look at what strategy your going to implement before everything breaks loose. 

I too am looking at this as a bull trap for now and am steering well clear of making any significant movements. At this point I see the risk in either direction being too high so the best strategy is to stay put. I can not be confident enough in my conviction that this is a bull trap but I hope that I am wrong. Unless you enjoy trading very short term volatility with high risk then right now is not the time for action.

[Potato Chips]

Oh I'm not betting it on a 10% price increase with nothing worth to hype about. Its just too soon and I don't wanna be hasty so I guess I'm also on team play safe for now. Just gonna watch the market and scream YES if there's a significant price increase.

[bitbunnny]

To my opinion it's too eary yet to make any conclusions.
This might be the sign of potential revovery but according to previous experiences from many years spent with Bitcoin it's wise to wait next couple of days before making any conclusions or predictions.
But I think this is good moment for quick win trading on a daily basis. Soon situation might change in the opposite direction again.

[dothebeats]

I wouldn't be too optimistic at this moment, and would tread carefully and not get impulse buys. This could be another bull trap setup just like the previous run to $4000 then back to $3200, or this time even worse. Even though the resistance level $3700 was recently broken, I still don't believe that we already have the strength to push forward and settle on to a new range. I could be wrong though as the upward movements seem to not be contested by the bears in any way, and short positions are already removed in some of the exchanges I frequent on.

[Theb]

Don't go long for now. I am seeing a major head and shoulder forming in the 15 minute chart we are currently forming the right shoulder so we need to set some precautions on our trades, if BTC breaks 3,750 let us expect that the correction will be confirmed and shorting it now might be a good idea while you still see your portfolio green. Keep in mind that the bear market is still not over this is just a price rally we are experiencing in this season there is nothing major about it except for a play of profit.

[tdrinker]

Don't go long for now. I am seeing a major head and shoulder forming in the 15 minute chart we are currently forming the right shoulder so we need to set some precautions on our trades, if BTC breaks 3,750 let us expect that the correction will be confirmed and shorting it now might be a good idea while you still see your portfolio green. Keep in mind that the bear market is still not over this is just a price rally we are experiencing in this season there is nothing major about it except for a play of profit.

How can you be sure that the bear market isn't over? It's too soon to say for definite that it is but this bullish movement could be the start of the reversal. Personally I would avoid any shorts below a price of $6000. The potential for loss seems much higher than the potential for gain. Most people here suspect a bullish market will return eventually, if it comes earlier than expected your shorts are going to become very costly.

[figmentofmyass]

Is this another bull trap? Or first sing of bull market beginnings?

at the end of a bear market, they tend to look the same because bears are still in control. take 2015 for instance. the bottom came in january, but the first rally to the $300s was quickly sold down. it looked like a bull trap and most people expected the bear market to continue. in hindsight, it was the beginning of the bull market. but it wasn't obvious until october or so, ~9 months after we hit the bottom.

Once made some profits, bet on other coins which did not start the uptrend, or are at the beginning of the up-trend.

i'm not even touching alts yet. i prefer to trade bitcoin futures on bitmex right now. i only like alts when it's super easy money---"alt season". when literally everything pumps.

[dewildance]

Is this another bull trap? Or first sing of bull market beginnings?

My strategy is the following:

Bet on trends, holding and selling tops (try at least), re-buying at few % drops, wait till next station.

Once made some profits, bet on other coins which did not start the uptrend, or are at the beginning of the up-trend.

Attention with people selling ALTs for $BTC !! Don't forget the Stop-loss!

Good luck all!

Since yesterday morning I think what this price rise means. I had hoped that the real price was the rise and the bullish pre-collection of power. But what will we do if it is the Bull trap?

[davinchi]

Honestly I just wanted to get out for a while. I will definitely get back and I am already working on some stuff that will get me more bitcoins and that is the important part but for me right now the real question was am I happy with this price and can I get out of bitcoin and sustain my life with the fiat I get for a while before I can actually build up more bitcoins later on.

If I can work for the next 5 weeks with the money I have and not spend the money I will make from now on, that means I will be in profit which is all I cared about honestly. That is why I am out of bitcoin for the day but in 5 weeks time I am hoping to be in bitcoin a lot more. If you ask me, if you can afford to leave, leave right now, sell your coins and get out, than start getting back into bitcoin once the price settles to something less volatile.

[thecodebear]

I'll be waiting for drops back in the 3000s to buy more, already bought a bunch in the 3000s the past few weeks.

Pretty sure price will fluctuate in the 3000s and 4000s for months to come, will be looking to buy whenever it is in the lower range.

[Slow death]

Is this another bull trap? Or first sing of bull market beginnings?

Let's wait for the next few days that we will discover.

My strategy is the following:

Bet on trends, holding and selling tops (try at least), re-buying at few % drops, wait till next station.

Once made some profits, bet on other coins which did not start the uptrend, or are at the beginning of the up-trend.

Attention with people selling ALTs for $BTC !! Don't forget the Stop-loss!

Good luck all!

I agree with the strategy on bitcoin. but honestly these altcoins are a great loss of time and money, the altcoins go up a lot without any reason and they fall a lot for no reason, I saw something that left me very shocked:

A few weeks ago a certain creator of a certain altcoin went to twitter and made his announcement and minutes later altcoin rose 15%, hours later altcoin rose 35%... but when I paid attention to the announcement I wondered:

he made an announcement and it was not a partnership, it was an announcement of implementation of a technology, but that does not mean that altcoin will have much demand in the future, so what was the reason for that altcoin to rise 35%? result days later altcoin fell 40% and did not rise any more. In fact in January of last year the same altcoin was worth 0.004btc and today is worth 0.001 btc. Be careful with altcoins

[STT]

Track the 8 day average which is roughly 4hr bars and 50 MA     Thats your short term momentum, we go up and down within that but I call that the phase change.  When above this line we are positive as now and many look for long play and below it speculators will try to make a quick buck off catching shorts.

Right this moment in time I was watching 4050 and there a fib level support at 4000,  so really thats my line in the sand to watch the tide change .    We have the idea of 4500 and much higher above but also the possible pullback to check previous support was good

[kelz1]

I don't think these charts mean anything any more, the unpredictability means all these experts and analysts are making all sorts of predictions. One of them is bound to be right and then that person is deemed to be the oracle of btc prices

[timotron]

interesting ideas going around, cool strategies too!

I just have this phrase in my mind the whole day...

   There is just one way for BTC, and it is UP!

[harizen]

No strategy at all at the moment. Just executed it recently.

This recent price increase should not be taken as big deal for now in terms of speculating "much especially" at;
a) "if this will be the start of the bull run"
b) "is this a bull trap"
c) "are whales manipulating again the market"

Let's allow the progress for at least several days before we can somehow conclude another positive speculation on our book of expectations.

[gabmen]

Is this another bull trap? Or first sing of bull market beginnings?

My strategy is the following:

Bet on trends, holding and selling tops (try at least), re-buying at few % drops, wait till next station.

Once made some profits, bet on other coins which did not start the uptrend, or are at the beginning of the up-trend.

Attention with people selling ALTs for $BTC !! Don't forget the Stop-loss!

Good luck all!

That's going to be a little agressive for me though. Determining if it's a good time to buy or sell will be quite a challenge and getting too carried away may prove to be costly. I probably will pass making any major move.

[magneto]

Is this another bull trap? Or first sing of bull market beginnings?

My strategy is the following:

Bet on trends, holding and selling tops (try at least), re-buying at few % drops, wait till next station.

Once made some profits, bet on other coins which did not start the uptrend, or are at the beginning of the up-trend.

Attention with people selling ALTs for $BTC !! Don't forget the Stop-loss!

Good luck all!

I honestly think that this is a bull trap.

You might see a few short term cycles of oscillating prices between $3k-5k, but I don't think that it's going to go above this range at the moment. Compared to the last bear markets, there is still quite some time to go before the time elapsed from the 2017 ATH matches the time taken for the recovery from the 2015 bear market to occur.

Prices have corrected quite a bit today, and it seems like that even $4k is posing significant resistance. My strategy right now is still accumulating, since I have always believed that anything below $6k is worthwhile to do dollar cost averaging on. I wouldn't bother trading the short term price fluctuations, if your end goal is to hold for the long run.