Bitcoin's price break 5700 USD, is this uptrend or bulltrap?

[tomahawk9]

[Update]
Oh Sh**, the price has rose up to more than 6000$ (in Binance Exchange) before gone down to $5k8.

Saw that as well. Makes me think that we might need to consolidate around 5.8k and above for a bit before going for another push to actually break the 6k barrier and stay in there, because it looks like we'll touch 6k in other exchanges very soon (later today maybe?), but seeing how Binance couldn't hold the 6k, it's very likely that we'll see the same pattern in other exchanges.

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[Lanatsa]

Everyone feel happy and energetic while Bitcoin has increased to over 5.700 USD last 24 hours, look at the Bitcoin's price chart, we can see the "tripple peaks" is forming (1D).
To the uptrend idea, there are many good news for Bitcoin and cryptocurrency recently. Many investors have started to consider carefully about this digital asset (CFTC Chair Giancarlo Expects ‘Explosive’ Spike in Crypto Interest). Furthermore, this is the first time in the last 5 months BTC's price over 5,700 USD, so we have can think about good future.
On the other hand, If we look at the 1D chart again, there are some chances that the price has just formed the tripple peaks model, so the price gonna down to lower than before it rise. Moreover, recent IEO platforms have showed their failures, investors consider cryptocurrency as a scam platform so that they will withdraw their money for investing in other field.
Actually, this is just my personal view. Please share your opinion and we will discuss about it.

Usually on triple peaks model on technical analysis does really signify market reversal but this wont really be a guaranteed thing to happen anytime on crypto.
About on your insight of IEO reason,we wont able to say that it is a main factor but somehow its plausible.People did realize that IEO are failures? I do already
make some warning before on about that matter but i dont see this is the main reason.For now we cant conclude if this is already a reversal or just a bull trap.

[figmentofmyass]

Everyone feel happy and energetic while Bitcoin has increased to over 5.700 USD last 24 hours

for a few moments we managed to reach the $6000

only on the tether chart, or bitfinex. tether is trading 1% higher than everywhere else and bitfinex 5-6% higher. all the legit exchanges like stamp and kraken topped out at $5975 or below.

good recovery from the overnight dump though, so maybe we'll see another attempt at $6k soon. tough to say what happens in the short term but i do think price will be much lower than this in a few weeks. a stab back into the $4000s.....

[StarofBTC]

Its wind of change which we are all been waiting for. For a long time now people have started giving up on bitcoin but let us hope this price will consistently bring about a uniform rise in other strong altcoins as well. I will like to see ETH breaking that $170 resistance and move to the next level hopefully.

The people who gave up on BTC already left. The ones who believe in the king of the crypto market continue to trade it over the long term. This is no bull trap since I see this as perfectly organic growth spurred by positive news from every direction.

ETH will cross $170 soon and it will target $180 next.

Those people have sold their portfolios when bitcoin reached the bottom price and i have seen so many weak hands have told me if they have sold their crypto portfolios. I can confirm your answer if this is not a bulltrap consider some bad news have already published by some media but the price of bitcoin keeps bullish right now. The bulltrap has already passed in the last month and we are in the right way to go to the moon again. I have prepared my seat belt in my rocket with bitcoin. anyone with me?  

So many methods the bear have used to keep pushing down the price of Bitcoin in the last few weeks and yet bitcoin keeps charging up in price, I think we are already heading straight to the point where the bulls will take absolute charge of the market, once we successfully overcome the retrace we settle finally on $6000.

I sense lots of actions arising through this value ($6k), especially actions from the bull and actions from people that will FOMO. So no more panicking for me, bitcoin movement now, is more reliable and I can confidently change some of my fiat again to bitcoin, because it is certain that more increase will occur before this month runs out.

[lupinvn]

News Update, HACKERS STOLE $40 MILLION FROM BINANCE CRYPTOCURRENCY EXCHANGE. And yes, the price witnessed a dramatically fall after that terrible fud. But again, CZ has done very well during crisis, Bitcoin's price is now stable at around $6-6,1k, thats sound great. But on another hand, do someone think that the hacker thing just a fake news so that traders would panic and sold their fund in low price and Binance's team buy them all. lol

[lupinvn]

Unexpectedly, just over 10 days have passed since this thread was created, the value of Bitcoin has hit huge milestones. Not only did it break its peak within the last 5 months, Bitcoin also went further to more than 8,000 USD. Hopefully this will be one of the positive signals for the upcoming market!

[Harlot]

The day that BTC has broken the 6,000$ and the 7,000$ key resistances  only show that this ain't a bull trap but a bullish reversal already the only thing out of the way is how will this up trend hold for how long? In my honest opinion BTC has been moving up really fast compared to the ideal scenario I was lookinv for whoch is a steady up trend. Fast movements like this tends to take a lot of market confidence thus making another bearish reversal inevitable. I won't expect that this up trend will attempt to go another ATH since BTC is acting like it was in 2017 where aggressive pumps lead to scary falls.