Bull trap or lasting

[BIT-BENDER]

Dear all

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

I don't think Bitcoin listens or even care about what people says, the price may have clocked $1million or above if it did, and enough with the correction, support and breaks thing, just a way of analyst trying to have a control, but right now a tweet or decision from Elon musk is even more decisive than many analyst.
I just see my self enjoying the price when it goes up, and if I wanted to buy more I may selfishly want it to drop a bit. Regardless -Newbies- have good knowledge especially if investing in alt-coins.

[1714877201]

1714877201

[1714877201]

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[7788bitcoin]

Since you are looking for a speculative answer, there is no conclusive answer as the market is still trying to break the resistance and even if you think it is a trap there is nothing to worry, just hold on to your coins much longer and eventually we will see the market soaring higher from the current situation. There is no stats that could give you a clear cut answer on the market direction, you will only hear them after that movement  .

[Distinctin]

Bitcoin already reached at $42k and this is a good sign. Because it's resistance is at $43k . If. Btc can breakdown this it we expect another sign of bull run continuation . This new month can bring up a good time and ATH of btc and whole market we can hope

Bitcoin is definitely making a positive price increase these days and it almost breaks its resistance at $43k. If the price even goes to $50k up, then i may say that bull run is indeed in its way now.

Others may say that this is a bull trap or a healthy price correction before it reaches into another ATH. As long as the market starts to turn into green, this is already a healthy movement for bitcoin. Soon, we will witness a legit bull run in its perfect time.

[AliMan]

Dear all

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

They're just saying that because of doubt, basically it's not that serious and I don't see any bull trap here. The trend goes with normal changes as fluctuations sometimes break the emotions of fear, which usually happens when we seen price tend to spike. On the previous price, $42k was reached then suddenly fall back down to $41k today.

[Gozie51]

Around march last year that covid-19 was hitting the world heavily, bitcoin started increasing and people kept speculating bear but price kept moving up. Yet now speculators are hitting the pages for bear but the price kept appreciating. Currently we are at $41,257 , this is looking like more bull with the positive news around bitcoin.

[CryptopreneurBrainboss]

everyone can have assumptions or predictions according to their thinking, and we should also trust ourselves to predict this. although bitcoin has crawled up, but indeed we can not know the truth, whether this will be a real bullrun or just a trap. Therefore, when we trade, we must prepare for the risk so that we don't regret it later

Actually it's easier to predict, the charts holds all the details. The value Bitcoin  has to cross to not be a bull trap is right there in the charts. Don't blindly follow people prediction that has no technical backing from the charts. Everyone can assume what the situation of the market is likely m going to be so you don't just believe any prediction you see out there. The market is slowly recovering, is still early to assume what the future holds via the short term but for the long term, Bitcoin will always be bullish.

What you should be doing now is accumulating as much Bitcoin as possible, there's definitely going to be a second wave of the bull run and the market is getting to ready for that run. The best decision you can take now is load up as much coins as possible in anticipation of the run. As usual this run will begin with bitcoin, next high market capitalization coins then the low market caps catches on.

[Ryker1]

Dear all

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

Well, there is no one knows either it is a bull trap or not, and bitcoin will remain of being volatility.
If you wanted to buy bitcoin right now, it is still good for you because bitcoin will perhaps move in the upward direction, but if not, just hold it until it comes back to the price where you purchase. Just listen to the newest trend, you can perhaps follow the bitcoin sentiment and analyzing on your own where the bitcoin price potentially goes on.

[Slow death]

it looks like the price will be having a correction after increasing wildly, but the question now will be how far the price will correct and whether the next support will be strong enough not to break and take us back below the $35,000. i estimate that we can't drop below $39,000 at all, if we drop below $39,000 the price could drop too much this is not good because the next support after $39,000 would be $37000 which has already proven that it is not a strong support. I hope we don't see the price below $35000 again

Around march last year that covid-19 was hitting the world heavily, bitcoin started increasing and people kept speculating bear but price kept moving up. Yet now speculators are hitting the pages for bear but the price kept appreciating. Currently we are at $41,257 , this is looking like more bull with the positive news around bitcoin

an interesting fact is that every time someone makes negative forecasts the price goes up a lot, and every time they make optimistic forecasts the price drops a lot

On the previous price, $42k was reached then suddenly fall back down to $41k today.

could not break the resistance so it fell

[Coin-1]

In fact, the bears failed to break through the $30K Bitcoin support level, so they gave up their futile attempts to push BTC below that threshold. Now the bulls raised their heads.

In my opinion, the current situation in the cryptocurrency market is mainly inspired by the "London" hardfork which will be activated on the Ethereum blockchain on August 4, 2021. The ETH price will definitely soar, so Bitcoin as king will follow upward trends.

I believe this is not a bull trap (although it was much better to buy BTC at a lower price). I also suppose that some well-known multinational technology company is currently buying lots of the most popular cryptocurrencies.

[Boov]

Dear all

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

If we won't reach or overcome until $46k and so on, there would be a possibility that current price will come to saturation period. The market isn't that good and not behaving well with recent fluctuations, it made me felt so uncomfortable to see strong resistance taking more strikes. Bull trap or whatever, we need to take our strong grip despite what will going to exist in the upcoming days this 1st week of August.

[STT]

Certainly we have the possibility for weakness and as normal the market is exploring that path right now on Monday is the perfect time for volatility and extra volume from over the weekend.   We've broken short term momentum like the 2 day average and imo its very reasonable we go back to check something like the weekly average at 39k  which matches other measures and volume history also.



Its a brake check, doesn't have to be taken negatively or immediately implicating a large move but we check prior prices for that durability and sellers find lower prices.  Weekend drift, Monday check and retrace probably quite natural in the vocabulary of quite a few traders.

[nomenclatur]

Dear all

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

this is just a trap, see when bitcoin is at $42k it will go down again many believe the market will be bullish again but in fact, it's all just a trap that will trap anyone by buying at a high enough price because whales have often made markets like this appear it's clear that whales can manipulate the market to change whenever they want it can happen but bitcoin won't be on the rise for too long.

[adaseb]

Its conflicting right now whichever way the direction will go. On the long term scale, we are at major resistance. We are at the range high from the last 3 months AND if you look at the weekly chart, we are on the right shoulder of the H&S pattern. So technically it looks like a great short from here.

However the way we had 10 daily green candles is very bullish. And the fact that we are pretty much at $40K and we are getting negative funding leads me to believe this will go higher. Seems way too many people are thinking the H&S pattern will play out and they are aiming for mid-range ($35K) or low-range ($29K) or even $20K or so.

What is negative right now is that its still August and we got little volume. So its hard to pin-point which way this will go.

[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.

[cabron]

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.

He seems to be a usual accomplice of the guys who want the price to dip so they could buy from the panicked newbies.

This is supposedly the 3rd week of the green candles so maybe on Wednesday, the red candle will turn green. Bullrun doesn't always have a green candle every week so there are bumps along the way. It's his time to buy, spreading fud is one good strategy in order to find an opportunity to buy.

[Kong Hey Pakboy]

Around march last year that covid-19 was hitting the world heavily, bitcoin started increasing and people kept speculating bear but price kept moving up. Yet now speculators are hitting the pages for bear but the price kept appreciating. Currently we are at $41,257 , this is looking like more bull with the positive news around bitcoin.

So what you're trying to say is that what's going to happen now is the reverse of the last year? I don't have the knack and knowledge for analysis but I feel like this is a trap that will cause the prices to go down and then have the price go back up by the end of the year or the start of a new year.

[gabbie2010]

Dear all

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

Its glaring that the market price outlook or sentiment has already changed to bullish sentiment this isn't a bulltrap as being speculated, with reference to BTC/USD weekly timeframe chart plus a RSI(14) had signalled or indicated a bullish divergence coupled with fact that price had broken a strong resistance at $35K and $$39K respectively with reference to daily chart and presently the price is retouching the resistance turned support thus a bullish uptrend is imminent obviously its time to buy at dip and accumulate, the market has already ensured and overcome a bearish season that started since mid May.

[Oasisman]

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

That's not an evidence, that is still his own speculations.
Again, this isn't the 2017 bulls and 2018 bears. Similar spikes doesn't guarantee a similar result, market sentiments were totally different unless the investors are influence by the chart representations and follow those patterns.
It has been more than week after Bitcoin rises up to $42,000 and noticed there are always a slight drop of price after a short consistent run, but I guess people keeps on stacking more Btc when the price starts a slight decline.
So, to answer the OP's question. This isn't likely a bull trap.
Nevertheless, nothing happens to your asset even If you're caught in a bull trap If you're not selling during dumps.

[Wind_FURY]

OP, maximum chart ZOOM OUT, then ask yourself again. Is it a Bull Trap or truly a Lasting Surge? The crash was actually another golden opportunity to buy more coins, either to add to your cold storage or if it’s your first time to buy.

[BuNga_cute]

I don't think this is a trap but be wary of getting in too much. Just as others think that bitcoin this year has fallen 50% from the previous ATH. But now the crypto market is slowly starting to rise and break through the resistance level. That means the potential price of Bitcoin will still strengthen.

Always be careful when investing in Bitcoin is very important, because the price of Bitcoin is very volatile so its movements are difficult to predict.
But don't worry the Bitcoin increase is not a trap, the most important thing is that we can be patient to hold Bitcoin until our target is reached.
Don't be influenced by Bitcoin price movements, because no matter how deep the Bitcoin price falls, Bitcoin can always recover again. We really
have to have faith in the future of Bitcoin, so if the price of Bitcoin falls, make it an opportunity to buy Bitcoin again. Especially now that the price of
Bitcoin has passed the $40k resistance price, meaning that Bitcoin has the potential to continue to rise in price.