Bull trap or lasting

[thecodebear]

I think this is likely one last check in back with high $30,000s, and probably mostly just due to panic related to the wording of the upcoming US infrastructure bill that currently in its nonsensical language puts literally impossible regulatory requirements on lots of crypto participants.

In the next week I think we'll probably see the price move back to $40k and this month Bitcoin will break out of resistance and maybe close the month around $45k. That'd be my guess.

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[Oceat]

I think this is likely one last check in back with high $30,000s, and probably mostly just due to panic related to the wording of the upcoming US infrastructure bill that currently in its nonsensical language puts literally impossible regulatory requirements on lots of crypto participants.

In the next week I think we'll probably see the price move back to $40k and this month Bitcoin will break out of resistance and maybe close the month around $45k. That'd be my guess.

I don't see any signs of fomo by next week but if there's a one news that would change the people's minds then that would be a news like bigger company investing in Bitcoin. For now, I can't tell yet if there will be a continuation of the bull run or it's just a bull trap but I do hope these people is right then maybe we will be staying in $40k+ cycle.

But for now, shorters are doing something that makes the market strive to break past the $40k range. I do really hope Bitcoin would stay in the $40k range and continue to break at the top again.

[bbc.reporter]

CryptoWhale considers Bitcoin's rise to 42,500 as a bull trap and cites a 2018 chart as evidence, which shows many similar spikes.

Do you trust him? His twitter account appears to be always about fud on everything hehehe.

Also, bitcoin pumped for 10 days and has presently entered the overbought zone based on the RSI. Do you reckon it will always pump everyday without corrections? I shake my head.

I trust him because bitcoin moves according to its trend, and since this market is still manipulated, it's hard to trust that we will see another bull run when we already have one that lasted this year. We should be cautious, I'm not an expert but I agree with @CryptoWhale as it coincides with my observation.

I have not done my research on this @Cryptowhale account, however, there were many people who said that the person behind that account is a scammer. His predictions might be correct but be careful if you say you trust him hehe.

[buwaytress]

I think this is likely one last check in back with high $30,000s, and probably mostly just due to panic related to the wording of the upcoming US infrastructure bill that currently in its nonsensical language puts literally impossible regulatory requirements on lots of crypto participants.

In the next week I think we'll probably see the price move back to $40k and this month Bitcoin will break out of resistance and maybe close the month around $45k. That'd be my guess.

Yeah. It's now been two consecutive weekends of happy bulls already. Can certainly feel them ready for another round of action starting late Friday. Appetite is still there for another crack at 42k. Whether it will be the final surge over that, can't quite tell. Wouldn't be too worried if not, though. It'd be the sellers feeling the heat if they can't prevent that.

[Shasha80]

I think this is likely one last check in back with high $30,000s, and probably mostly just due to panic related to the wording of the upcoming US infrastructure bill that currently in its nonsensical language puts literally impossible regulatory requirements on lots of crypto participants.

In the next week I think we'll probably see the price move back to $40k and this month Bitcoin will break out of resistance and maybe close the month around $45k. That'd be my guess.

I don't see any signs of fomo by next week but if there's a one news that would change the people's minds then that would be a news like bigger company investing in Bitcoin. For now, I can't tell yet if there will be a continuation of the bull run or it's just a bull trap but I do hope these people is right then maybe we will be staying in $40k+ cycle.

But for now, shorters are doing something that makes the market strive to break past the $40k range. I do really hope Bitcoin would stay in the $40k range and continue to break at the top again.

If we look at the current Bitcoin price which is getting lower to the $37k price, it looks like the increase to the $42k price is a bull trap. But maybe
my guess is wrong, we still have to monitor the market at least until the end of this week. If at the end of this week the price of Bitcoin continues
to fall, I believe the increase in Bitcoin a few days ago is a bull trap. But everything can change, if in the near future there is good news about Bitcoin,
this will trigger FOMO and can make the price of Bitcoin go up again.

[Maslate]

snip~

I don't see any signs of fomo by next week but if there's a one news that would change the people's minds then that would be a news like bigger company investing in Bitcoin. For now, I can't tell yet if there will be a continuation of the bull run or it's just a bull trap but I do hope these people is right then maybe we will be staying in $40k+ cycle.

But for now, shorters are doing something that makes the market strive to break past the $40k range. I do really hope Bitcoin would stay in the $40k range and continue to break at the top again.

If we look at the current Bitcoin price which is getting lower to the $37k price, it looks like the increase to the $42k price is a bull trap. But maybe
my guess is wrong, we still have to monitor the market at least until the end of this week. If at the end of this week the price of Bitcoin continues
to fall, I believe the increase in Bitcoin a few days ago is a bull trap. But everything can change, if in the near future there is good news about Bitcoin,
this will trigger FOMO and can make the price of Bitcoin go up again.

Well, market corrections mostly come next after the price surge. We can say it was a trap base on some experience, we can't really deny the fact that the market is truly unpredictable and so we need to be more careful. For me, I don't buy coins during the hypes as I usually think about a possible dump to happen after, if I were wrong, I'm still good but if I am right, I haven't lost any.
I'm a victim of this situation in my early days in crypto and it gives me some learnings.

[Baofeng]

I think this is likely one last check in back with high $30,000s, and probably mostly just due to panic related to the wording of the upcoming US infrastructure bill that currently in its nonsensical language puts literally impossible regulatory requirements on lots of crypto participants.

Could be, hopefully this is the last one and then we can surge back to $40k++.

In the next week I think we'll probably see the price move back to $40k and this month Bitcoin will break out of resistance and maybe close the month around $45k. That'd be my guess.

Imminent break-out, but let's see, but the good thing is that we have showed that we can break $40k again, so that alone is a good indication. We still have a full 4 weeks ahead of us, $45k is that that far, as I have said, we've seen a jump from $29k-$42k. So possible a jump again to $40k and above this month.

[jakdanyel]

We don't know whether it's a bull trap or not. We hope that it's the bull market that we are witnessing right now. The price reached even a level more than $42k. Now we see it at $39k but it shouldn't misguide anyone. This could be a some of kind of correction. As it's still not clear whether it's really the bull market, we should act very carefully these days.

[Furious 7]

We don't know whether it's a bull trap or not. We hope that it's the bull market that we are witnessing right now. The price reached even a level more than $42k. Now we see it at $39k but it shouldn't misguide anyone. This could be a some of kind of correction. As it's still not clear whether it's really the bull market, we should act very carefully these days.

I hope this is not a bull trap because seeing the situation is still very good, therefore whether we will see a bullish trend is to be expected but this will make up for this normal figure of $50k to become a strong bull to go to ATH again.
I am preparing myself at this time whether I should continue or not what is clear is that my grip remains to sell when the bulls come and I don't think it is appropriate that bitcoin will experience another correction.

I think we have to be careful in making the decision whether to buy now or wait for it to go down is a difficult choice.

[osasshem]

We don't know whether it's a bull trap or not. We hope that it's the bull market that we are witnessing right now. The price reached even a level more than $42k. Now we see it at $39k but it shouldn't misguide anyone. This could be a some of kind of correction. As it's still not clear whether it's really the bull market, we should act very carefully these days.

I hope this is not a bull trap because seeing the situation is still very good, therefore whether we will see a bullish trend is to be expected but this will make up for this normal figure of $50k to become a strong bull to go to ATH again.
I am preparing myself at this time whether I should continue or not what is clear is that my grip remains to sell when the bulls come and I don't think it is appropriate that bitcoin will experience another correction.

I think we have to be careful in making the decision whether to buy now or wait for it to go down is a difficult choice.

Actually, this is a really cruciall time in the market where every decision and action taken will determine whether it it will be a rejoicing or regretting step taken. If there is cash or capital, this is not too late to buy, though expecting that it might still go lower than this, then putting a buy limit at a certain range, cause we all know the market when ranging, it is always on a rollercoaster ride, untill we see the full move and when the market has broken off from the range level we know we are in for the next bullish trend that will lead to a new ATH of all time.

[romero121]

The 100 & 200 day moving average is predicted to gain resistance, but the price directly broke and has reached the price around $40000. This seems to increase upto the range of $42000 in the falling days. If the $42k is broken then we can expect the price to reach $45k at the shortest.

[Shasha80]

If we look at the current Bitcoin price which is getting lower to the $37k price, it looks like the increase to the $42k price is a bull trap. But maybe
my guess is wrong, we still have to monitor the market at least until the end of this week. If at the end of this week the price of Bitcoin continues
to fall, I believe the increase in Bitcoin a few days ago is a bull trap. But everything can change, if in the near future there is good news about Bitcoin,
this will trigger FOMO and can make the price of Bitcoin go up again.

Well, market corrections mostly come next after the price surge. We can say it was a trap base on some experience, we can't really deny the fact that the market is truly unpredictable and so we need to be more careful. For me, I don't buy coins during the hypes as I usually think about a possible dump to happen after, if I were wrong, I'm still good but if I am right, I haven't lost any.
I'm a victim of this situation in my early days in crypto and it gives me some learnings.

Our experience is indeed very useful to be able to make us more mature in making decisions. There are many things we can learn from our mistakes
in the past, when we first join the crypto world almost everyone loses. But this is what makes us now more careful to see Bitcoin price movements,
and decide what steps we will take. As I said earlier, we need to monitor Bitcoin price movements until the end of this week, in order to determine
whether it is a bull trap or not. It turns out that now Bitcoin has managed to return to the price of $41k, it means that it is very likely that the increase
in Bitcoin will continue to price resistance and not the bull trap that we fear.

[rhodelmabanal]

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

I see that this is a true bull run and it already lasting, it is different from a bull trap because Bitcoin price only drop to 29k$ it does not drop below 20k$, so then I believe that the bull run will maybe continue untill the end of this year, I will never believe that Bitcoin will back to low price below 30k$ this time.

[Bustart]

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

You're too motivated that bullrun is really doing well this time, as far as price was concerned right now there's no trap on what's really going on with the latest market updates. We surpassed $37k,$38k and $39k and now we're at the price of $40k. Everyone is now excited to see for next few hours to tick in time, because there might be a rapid increase that's waiting to be triggered without any further notice.

[zanezane]

I see that this is a true bull run and it already lasting, it is different from a bull trap because Bitcoin price only drop to 29k$ it does not drop below 20k$, so then I believe that the bull run will maybe continue untill the end of this year, I will never believe that Bitcoin will back to low price below 30k$ this time.

I have a high standard when calling it a bull run but I am pretty sure that if it stays like this and steadily goes up for about a month or even 2 months, then probably I would agree with you that it's a bull run but I still have a bad feeling in my gut that tells me there's caution to heed in this current price movement.

[Tahid12]

Bears were try hard so many time, to dump this crypto world but each time they remain unsuccessfully and lost fight with bulls. Even btc came back at $42k from $29k Barrier level. So i believe this is succesful up trend. Besides lots of new comers already investment on bitcoin and other currencies, and they take bitcoin together at higher level. It is hard to dump market from this Barrier level to $20k. So waiting for cross another barrier level by btc

[Clavulanic]

Dear all

I think, this is bullrun continuation. But some people say bull trap. If 43000 btc break , unstoppable

I see that this is a true bull run and it already lasting, it is different from a bull trap because Bitcoin price only drop to 29k$ it does not drop below 20k$, so then I believe that the bull run will maybe continue untill the end of this year, I will never believe that Bitcoin will back to low price below 30k$ this time.

There's no chance for $30k to go back again because we already experienced that last month when bear market started to have dominance. Unfortunately it failed staying for so long because investors were buying back, then FUD have been suppressed because of btc recovery was too fast. As per Op, true bullrun could be lasting as soon as possible and we just have to wait for that with patience.

[Ziskinberg]

Bears were try hard so many time, to dump this crypto world but each time they remain unsuccessfully and lost fight with bulls. Even btc came back at $42k from $29k Barrier level. So i believe this is succesful up trend. Besides lots of new comers already investment on bitcoin and other currencies, and they take bitcoin together at higher level. It is hard to dump market from this Barrier level to $20k. So waiting for cross another barrier level by btc

The current surge is seemed out of the plan, I'd never hear any reason for this pump that is why it looks surprising how the trend goes like this coz most of us think about the dump after it drops back at $39k but it pumps back again and it continues moving high. I feel that many had missed the train, some might lose their Bitcoin at $40k but still, it is a profit. I'm now observing the market for a few days before taking action and have some analysis. I'd never think about the bull trap but can't simply ignore that thing.

[STT]

Its trending upwards, its reasonable to expect a bull trend from here for this month at least.   Higher high on the daily bars, until the 200 day I expect upwards price action.
  There is some idea for resistance here from the lows of Feb but I think thats quite weak resistance and just an echo of the former range top we had seen mark top prices previously.   It will pull back at some point but has not given an indication of that currently, it has momentum and fairly clear space to move.

[MiF]

I think this will last long, this is not a bull trap because I believe that Bitcoin will not fall below 30k$ again, but we still need to set a limit so that we can prepare if this really a bull trap. I see the market is on good condition so I'll n my own opinion btc will be making a new ATH soon.