Bull trap or lasting

[udayantha11]

Dear all

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

[1714143900]

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[GreatArkansas]

July candle monthly closed above $40,000 is one of my bases that this is not a bull trap or fake breakout. But I can't say this is a bull run continuation or another bull run since for the past few months after we reached the all-time high around $60,000 and drop below $30,000 that is already a huge percentage of drop and lot of people said before when we dropped below $30,000 it is already a bear run.
For me, I am more in favor of continuation, I can expect more sideways above $40,000.

[domoy77]

Dear all

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

How could it be unstoppable if $43K BTC broke? will the price of BTC continue to fly as it did in April? because ATH BTC was in April this year and now the price is still not close to the ATH price that BTC has ever achieved.

[livingfree]

Dear all

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

You just can't be sure that it will be unstoppable.

We saw it reached $42k but it didn't stay there for so long. Every move up of bitcoin, there's an opposite reaction to it that it shall be corrected.

But that's way better than it will just keep on plummeting and there's no opposite action on its charts.

[CryptoLogo]

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

[cryptomaniac_xxx]

Dear all

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

We already have 10 or 11 consecutive green candles, if that is a bull trap, then I doubt that we can reach this far. Bitcoin reaches $42++ already, so $43k is within reach. It might be slow ascent though, breaking $43k, then staying there for a good couple of days then $45k and eventual $50k. So I would say let this be a bull run continuation, we just have a new month so exciting to see what it will bring, and hopefully $50k can be reach soon.

[Jating]

Dear all

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

How could it be unstoppable if $43K BTC broke? will the price of BTC continue to fly as it did in April? because ATH BTC was in April this year and now the price is still not close to the ATH price that BTC has ever achieved.

Obviously, we have reach ATH in April and after that the market went down in the next 2-3 months, even a massive fall to greater than 50%. But now we have seen record breaking green candles not seen for a long time, that's why speculators are saying that we are in another bull run or at least the price will not to good to levels of $28k, (lowest low after that ATH), and the OP is asking for our opinion.

Really hard to see if this is just a fake out break because as I have said, consecutive candles is a strong indication that we still might see a good spike in the next coming weeks. Whether new ATH or breaking $50k, it seems that the market has rebounded already.

[Mpamaegbu]

we reached the all-time high around $60,000 and drop below $30,000 that is already a huge percentage of drop

Bitcoin has seen worse drop than what it recently went through. The current drop is slightly less than 50% from its ATH of $60,000 plus to ATL of below $30,000, that's still okay compared to what we had in 2018 from an ATH of >19,000 to below $3,500. That was almost like Bitcoin was getting whipped out. On the main, I strongly believe we are in another bull rally having observed Bitcoin crossed the trading range it was confined to for weeks.



There may be retracement from time to time but that doesn't mean we're going to plunge into a bear run as that range has been broken to the upper side.

[DeathAngel]

Dear all

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

I think China FUD & Musk trolling about energy use made the price dump. All that nonsense seems to have subsided now & we are returning to the bull run. It’s a bit like 2013, a big pump followed by a huge dump. We had a period of low volatility & re-accumulation & now we are getting ready for the big blow off top phase.

[Ararbermas]

Dear all

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

no one knows, indeed bitcoin is very unpredictable because of some whales decisions wherein even just a sign you can't see anything before bitcoin fluctuate or make correction in the market. Probably if you will used to follow the news around the internet perhaps its possible to determine the real potential of bitcoin wherein how long it will last and etc, because you know most of the causes in the market are from internet or let say social media like what happened in the market because of elon musk. So probably on that way there's a chance in my opinion as it's the very  common ways how market always turn into bearish or bullish depends on what news emerging in the internet.

[Bitstar_coin]

It doesn't seem so even though I have less knowledge about TA, to me it seem like a genuine recovery of the market, it took a while for btc to stay above 40k and now that it is, I feel it will gradually climb from till year end with occasional correction to hit a new ath, there will always be a correction but generally the market seem to be back, the whales are accumulating and new investors are coming in and so is the bull market.

[cunguks]

right now the market is being surrounded by a lot of good news in some crypto media.
I don't think this is a trap. but I'm still wary of a correction that could occur at any time.
rather than worry too much, day trading seems profitable for the current situation.

[Chuky92]

Dear all

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

Bitcoin keeps surprising everyone, it keeps disobeying charts and analysis, that was how it was predicted to dump after the B event but it went rather up. Also, before they used to say if Bitcoin crosses $45k then it's bull run, and now $43k, not as if TA and FA doesn't work, but most times Bitcoin doesn't follow it, because one good news is capable of pushing it more higher.
I would say, if eventually it crosses $45k, then fomo will set in, and we know what comes with fomo, huge participation from people, more inflow of funds and then one can say bull run is on again. Another factor to pay attention to is NFT trend, it will also play a role in this anticipated bull run just as Meme coins did few months ago.

[TWW]

Dear all

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

There are always negative people who want to pull down the price when the price is moving up and these are the same people who want the market to move up when the market is going down because either way they are going to make a profit, this what makes the market volatile because the people like to FUD and shill.

it could even be that those who make the market go down are those who make it go up too.
all in the crypto market with the aim of profit. those who have strong influence are of course the main consideration to move the market.
either this is a trap situation or indeed the bulls are continuing their rally.
although there is currently news regarding the similarities between the 2018 market situation and the current one.

[Gayong88]

Visually bullish, if seen Until the end of last July the movement of BTC was not stable because there was an unlock of Grayscale but in August there was no unlock it had an impact on the movement of BTC, it is proven that BTC was able to break its resistance at $40,000 even though there was a small correction after that, many other important moments in August, such as Ethereum upgrades and Cardano launched smart contracts.

[MusaMohamed]

Bull trap if you think it is, won't kill you. You will not end with loss if you don't sell your Bitcoin. HODL if you believe it is a bull market continuation but eventually it is a bull trap. If it is a really bull market continuation, you will have higher price than $60k to sell your Bitcoin.

If your belief in bull continuation is not correct, you will need more time to get your capital back, but Bitcoin will have higher price for you to sell. In this year, next year, next four years. It is not a big problem with me b'cause I can wait.

https://www.lookintobitcoin.com/charts/bitcoin-profitable-days/

[inanilujimi]

I feel this is not a trap if you look at the current market movement, it could be the next bullrun until the end of the year. obviously we've had a correction in a few months and it's time for the market to hit ATH again with lots of positive news and big events in some altcoins.

[Kunnu]

As we know that nobody can predict the upcoming movement of Bitcoin we can only make estimate in which way it may go on the basis of technical analysis and the news about Bitcoin, currently there are not much negative news about BTC which is absolutely a positive point so I think we may see more decent growth in BTC

[Nazmul012]

Right now btc is standing at a complex position. So based on it, it hard to predict that if It'll be unstoppable or be the bull trap! Its still unclear to me as btc need to grows more to prove It'll be unstoppable. It won't be wrong if anyone claim that market is already in bear run After downfall of btc from its ath to $30k! Now its hard to go back that ath although  there is always an positive expectation for btc, along with crypto industry

[Galley]

The current situation gives us some confidence that we can see good growth in BTC again. Unless, of course, it was not a "false alarm", and green candles give us false hope. The situation is actually unpredictable and can turn in any direction. I don't want to be wrong.