Bull trap or lasting

[pooya87]

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

[MusaMohamed]

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

Newbies lose their money in all market, bull or bear market they will lose their money.

In bull market they buy when price rises too much and reject dips. They see opportunities when price is moving up 15% to 20% but they don't want to take dips when price is falling 15% to 20%. Dips are great chances in bull trend.

In bear market they only hope that the bull market will return. So they don't sell when price bounces. In bear market, if they can sell with bounces, and repeat it, they can equalize their loss from the bull market.

[arwin100]

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

Newbies lose their money in all market, bull or bear market they will lose their money.

They easily get FOMO that's why they are prone losing on different market condition. They need to learn from this since if this one continuous to go on maybe they should look back their past trades on why they are losing since for sure they can get an idea on why all things happening and maybe they became a holder once they find out that the potential coin they buy have huge chances to pump up and getting panic on some movements is really a bad decision.

[Wind_FURY]

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.

This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

I believe it’s those people who bought close to the ATH who can’t take their paper losses anymore. It’s a very good example of what their impatience/frustration can do to their emotions and decisions.Understandable, we’re human, but the best would be to put those coins in cold storage then forget about them.

[Lucius]

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

Why would I trust someone who thinks it makes sense to compare 2018 and 2021? Obviously, there are people who believe that the bull run is over and that we have already reached maximum ATH this year - but there are also those who believe that the bulls are not over yet and that Q4 will be just as exciting as Q1.

My personal opinion is that we have not yet seen the effect of halving, and what is an indisputable fact is that large quantities of BTC have ended up in cold storage in the past year - which only means that the price will go up when demand is in full force. I don’t believe the various random prophets who appear like mushrooms after the rain, and they all use Bitcoin as bait to make as much money as possible on ordinary speculation.

[zanezane]

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

Well, every person should be responsible for their actions, I mean it's not like the people who earned a big profit in trading wanted to take away the money of the other people, that's just irresponsibility if they blame the market and not their decisions that lead them to that point.

[el kaka22]

Please do not waste your time speculating whether the market is going to bull run or another bull trap. The market is a good time for shorting, so keep benefiting in every way you can. Regardless of the market condition, if you know how to take profits, it won't matter. Ethereum's rally is strong today, but Bitcoin has been dropping recently accompanied by ETH's decline. Often, this happens. BTC pumps then people take the profit.

Shorters are always doomed in the crypto market, think about it you are in crypto that is going against the inflation, in the long run every single time dollar gets weaker crypto gets higher and the first thing on your mind is to short it? Yeah sure that may have worked once or twice in the past but let's be honest, it has lost 100 times before it won once.

You have to be like a sniper hitting a target walking in a very crowded street from a 300 mile away distance. That is seriously something that should not be considered a logical decision to do, not saying it is impossible, I am sure there must have been some people who made the correct call each time and rarely loses money on shorts, but for every one good short caller, there is probably ten thousand that gets it wrong. Which is why I believe we should not be considering this as viable investment at all.

[ene1980]

~
Well, every person should be responsible for their actions, I mean it's not like the people who earned a big profit in trading wanted to take away the money of the other people, that's just irresponsibility if they blame the market and not their decisions that lead them to that point.

I do accept the fact that not everyone even if they are a newbie is jackass who is giving away their principal amount they invested to smart ones, everyone have the option to what they choose want with the money they invested in the market and most probably if they are not doing their research before jumping into the market they usually panic and sell out at a loss after seeing the huge volatility and hopefully that is what he is trying to explain.

[Yaunfitda]

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

Well, every person should be responsible for their actions, I mean it's not like the people who earned a big profit in trading wanted to take away the money of the other people, that's just irresponsibility if they blame the market and not their decisions that lead them to that point.

I guess they are really stubborn, why go against the flow and lose money? Newbie should learn from the first mistakes easily, but instead some of them are hard headed to think that they can bet against the odds. And then it's too later for them, thousands of dollars have been lost and then they blame everyone, the market, the FUD, the speculators. But if they are just going to look closely, the problems is themselves, too aggressive.

[stadus]

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.

[Macadonian]

It has already passed 43,000 before and we had a price correction which kept us there for a long time so Bitcoin is never unstoppable and will always have price corrections.

[Hamphser]

The problem with newbie traders is that some of them don't give up on losing money that easily. They have to continue going against the market just because they don't want to accept the fact that price is on the rise so they keep selling and that slows down the rise.
This is why some people say trading is a zero sum game, someone has to be losing money even when price goes up!

Well, every person should be responsible for their actions, I mean it's not like the people who earned a big profit in trading wanted to take away the money of the other people, that's just irresponsibility if they blame the market and not their decisions that lead them to that point.

I guess they are really stubborn, why go against the flow and lose money? Newbie should learn from the first mistakes easily, but instead some of them are hard headed to think that they can bet against the odds. And then it's too later for them, thousands of dollars have been lost and then they blame everyone, the market, the FUD, the speculators. But if they are just going to look closely, the problems is themselves, too aggressive.

Being aggressive wont really be giving you any advantage specially on dealing with a very volatile and unpredictable market.All you do need is to sustain yourself and make your capital last longer

and make it bigger or making gains no matter what the market condition is then you should at least know on how to deal with it and not just make out decisions basing up into your emotions

or something that you do have in mind specially on making big profits. Bull trap or not then its not an assurance for someone to believe on.

[osasshem]

The possibility of we seeing a next bull run is not too far as the change in the down trend is slightly on the reverse. Though it might be on a slow and raging period, trying to form new support and resistance zones, as it is something that has to be done in other to move on in the upward or downward trend.
It will not be doubted that there are some big whales and new investors using this as an opportunity to jump into the mainstream. No one knows how low it will go, but for sure we know it will definitely reverse for everyone to smile.
On the process of we (low cap investors) having big expectation of a bull run, we should also remember to know the importance of a stop loss if the market goes against forecast.

[rahmatrf331]

It has already passed 43,000 before and we had a price correction which kept us there for a long time so Bitcoin is never unstoppable and will always have price corrections.

yes keep holding on and through. we will also keep moving and moving. we predict a bull run will occur in the future, maybe the current is slightly reversed. but don't worry it's just a little.
Many people will think this is a trap and they will back off.

[LUCKMCFLY]

BTC is trying to touch the $ 43k levels but it has been somewhat difficult, the offer that has been found for almost $ 42k has been quite strong, I think that many who bought at $ 30k are selling at the moment, which has been a good wall for bears:

This bullish view will invalidate if the price turns down from the current level and breaks below the $36,670 support. That will indicate that the BTC/USDT pair could extend its consolidation between $28,805 and $42,599 for a few more days.

Source: https://cointelegraph.com/news/price-analysis-8-2-btc-eth-bnb-ada-xrp-doge-dot-uni-bch-link

I do not think it is a bullish trap, I think that for now what is being presented in the short-term market, anything can happen, although the news has been good, there are many bears that are taking advantage of selling in the rallies, it is very difficult when bulls try to test new price levels, it is a total risk, I think that for now what is happening is not a bullish trap.

[Nalien]

I expect a sideways market for a month or two then we may see a market will go higher. I dont think we go lower than $30k anytime soon but anything can happen in crypto market, one bad news and market starts moving accordingly. I'd wait some time before coming making any decision.

[Wind_FURY]

It has already passed 43,000 before and we had a price correction which kept us there for a long time so Bitcoin is never unstoppable and will always have price corrections.

It’s “not unstoppable” in which time-frame? It went from mere cents to $60,000 in 10 years. Everyone couldn’t believe it. OG HODLERs can’t believe they won the lottery, nocoiners can’t believe it too but started calling it a Ponzi Scheme. It is unstoppable in my opinion, there are many more people to onboard in the system, bringing the price up.

[kotajikikox]

Dear all

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

But it's not lol , 43k? it can only break the 42k and then fell down again to 38k now.

https://coinmarketcap.com/

It is really hard for bitcoin to stay at 40k in at least 10 days because this always being dumped after hitting 40,000 level.

but i am keeping my faith and yeah if 43,000 is broken than we might see another climbing high .

[Taskford]

Dear all

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

But it's not lol , 43k? it can only break the 42k and then fell down again to 38k now.

https://coinmarketcap.com/

It is really hard for bitcoin to stay at 40k in at least 10 days because this always being dumped after hitting 40,000 level.

but i am keeping my faith and yeah if 43,000 is broken than we might see another climbing high .

Maybe some certain situations contribute to the growth of bitcoin, also August is bad month for Chinese so maybe this one contribute also to the growth of bitcoin but I don't actually believe on this superstitious belief of Chinese things so hopefully we can see bitcoin reach at $45k so that we can eliminate the fear of others who think about something like this and keep believing on other unbelievable stuffs on crypto.

[KennyR]

The market is unpredictable, buy when the market drops low and sell when you feel it is at the top. Just because the market bounced from the price around $30000 to $40000 and gradually decreased a little, we can't mention it a bull trap or fake price pumping. With bitcoin investment/trading patience is much important. Maybe the price have got lowered, but there assured recover. Until it happens we need to have patience, if not it feels like a bull trap.