Are we in a bear trap?

[dezoel]

I think by now the Mt gox funds have been released according to the @op or they are still in the process, whatever the case may be I don't think it will really have much impact on price than what we have already seen, if you have bought from that dip, you will be in profit already, between you can always split the buy position, 40%, 30%, 30% depending on the market condition, if you don't want to buy all at once.

I have checked few crypto news portal and few other blog of blockchain analysts but none of them reported about the release of funds from mtgox. In social media also no talk about this as some people usually notify about similar pattern based BTC movements or other crypto based movements.

Usually bitcoin traders react to news well in advance which might have happened this time also; like for expectation of upcoming dump from gtmox refund, traders might have booked profits/exited their positions with the plan of buying back to cheaper price levels and made the recent correction.

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[fullhdpixel]

Usually bitcoin traders react to news well in advance which might have happened this time also; like for expectation of upcoming dump from gtmox refund, traders might have booked profits/exited their positions with the plan of buying back to cheaper price levels and made the recent correction.

I remember by the times of 2018/2019, some whales in reference like gtmox trustee, was continuously dumping big amount of bitcoins and made bitcoin prices to get back to below $10k levels even after bitcoin showed recovery up to $14k levels from the bottom of $3k levels.

But, this time I am sure they could not make similar kind of negative impact into bitcoin market by releasing BTCs; the current recovery from the $55k levels must be an enough proof for that.

[cheezcarls]

Not sure if this is a bear trap or not, but I just missed buying at a targeted dip price. We can’t just simply determine if this is a good time to buy or not as the market is really unpredictable and has high volatility. It can go up or down without warning. Managing our risks is what really matters most.

[Yamifoud]

Usually bitcoin traders react to news well in advance which might have happened this time also; like for expectation of upcoming dump from gtmox refund, traders might have booked profits/exited their positions with the plan of buying back to cheaper price levels and made the recent correction.

I remember by the times of 2018/2019, some whales in reference like gtmox trustee, was continuously dumping big amount of bitcoins and made bitcoin prices to get back to below $10k levels even after bitcoin showed recovery up to $14k levels from the bottom of $3k levels.

But, this time I am sure they could not make similar kind of negative impact into bitcoin market by releasing BTCs; the current recovery from the $55k levels must be an enough proof for that.

Yeah, they can't simply manipulate the market this time as people had learned and know-how these whales take the market to get some favor. If ever this is a bear trap, then let be coz it is not a problem, I'm not selling yet as I just continue to hold until December.
I don't look back to what happened in those days when gtmox hits the market badly. It was just the past, the market sentiment is different from now and also the minds of the investors that is why I have the confidence that we move farther than thinking about of huge decline.

[Desmong]

I don't think this is the best time to talk about bear market cause I would want us all to be positive about Bitcoin. The bear market or trap has not yet come and I don't want people to be pessimistic about the market now because this bad energy can make people to miss out on the bullish trend that is about to shot to the moon. Bear trend might come back later but  not now.

[beerlover]

Is the trap game over and we lost the 55k buying opportunity? Or should I wait for much lower value of btc to get an entry? I am still confused about that MtGox releasing their customers' btc tomorrow, which is making my nerves go wild when I think of what may happen.

Yeah, it seemed like mt.gox did not release lots of BTCs or traders who got refund probably did not opt for dumping right away; they might have decided to hold after seeing bitcoin prices roaring compared what they have seen in 2013/2014. Usually in trading terminology, I have seen bull-trap more frequently but I could not recall that I have ever come across the term "bear trap". This is may be due to "recovery" is only frequently happening in BTC market and not common on most other markets.

By considering the way how bitcoin market have recovered from the recent correction, I am also feeling like we may not get back to $55k levels any more. As of now bitcoin market is struggling to break the the resistance around $60k levels which might happen this weekend's last session.

I would assume that MT.GOX deal would have made a lot more news if it was true, I always assumed that it was just gossip and nothing more. I did not see any official statement from the trustee as well (the group that holds most btc that needs to pay the people back) so it wasn't a valid point anyway.

However, the drop was basically a correction, we reached to a level where people could sell and take profit and with them selling it made some liquidity because people with high leverages got liquidated and that turned their btc into USDT to pay, and that resulted with more selling. After that was just panic selling by some people and we stopped. Now we are recovering because all of that is done, now we are getting back on track and we are going to be doing fine for sure. I hope that the price rises through 60k again and this time around I am expecting 70k to come.

[noormcs5]

Not sure if this is a bear trap or not, but I just missed buying at a targeted dip price. We can’t just simply determine if this is a good time to buy or not as the market is really unpredictable and has high volatility. It can go up or down without warning. Managing our risks is what really matters most.

Even if we know its a bear trap or bull trap, the point is how do we trade based on this.

The best thing in this market is to long from the support and short from the resistance. In most cases, you will get good returns but few times the trade will be against you if there is break out pattern.

[laredo7mm]

Seeing the funding rates above, it seems clarified that btc had a 'fakedown' and was a bear trap, but how low do you think will it go? Is the trap game over and we lost the 55k buying opportunity? Or should I wait for much lower value of btc to get an entry? I am still confused about that MtGox releasing their customers' btc tomorrow, which is making my nerves go wild when I think of what may happen.

Source

Till now I saw the fear and greed index is showing neutral. That means people's sentiment is not clear so it will be better to wait for some time. It will be better to take an entry in a little bit higher in a bull market than take enter in a bear market. Do not FOMO and act according to market sentiment. The market became more mature and people know how whales manipulate the markets.

[Lanatsa]

Seeing the funding rates above, it seems clarified that btc had a 'fakedown' and was a bear trap, but how low do you think will it go? Is the trap game over and we lost the 55k buying opportunity? Or should I wait for much lower value of btc to get an entry? I am still confused about that MtGox releasing their customers' btc tomorrow, which is making my nerves go wild when I think of what may happen.

Source

Till now I saw the fear and greed index is showing neutral. That means people's sentiment is not clear so it will be better to wait for some time. It will be better to take an entry in a little bit higher in a bull market than take enter in a bear market. Do not FOMO and act according to market sentiment. The market became more mature and people know how whales manipulate the markets.

So lets put up some links to that.
https://alternative.me/crypto/fear-and-greed-index/

It is true that on yesterday on which people or the market is really on that neutral state but now that we are in on a little bit shake off then it is already now on Fear.

Is this something surprising? No its not because this indicator wont really be that precise but somewhat a useful tool on looking on how the market is moving.

Bear trap or not then you should know on how to handle up yourself on these kind of conditions.

[Vaculin]

Seeing the funding rates above, it seems clarified that btc had a 'fakedown' and was a bear trap, but how low do you think will it go? Is the trap game over and we lost the 55k buying opportunity? Or should I wait for much lower value of btc to get an entry? I am still confused about that MtGox releasing their customers' btc tomorrow, which is making my nerves go wild when I think of what may happen.

Source

Till now I saw the fear and greed index is showing neutral. That means people's sentiment is not clear so it will be better to wait for some time. It will be better to take an entry in a little bit higher in a bull market than take enter in a bear market. Do not FOMO and act according to market sentiment. The market became more mature and people know how whales manipulate the markets.

The market remains to be unstable and certainly becomes more unpredictable too as bitcoin is not yet back in its $60k value. But this should not create panic for everyone as this has happened a lot of times and all we can do is to patiently hold all our coins. I can say that we are not yet in a bear trap but if the price of bitcoin will go lower than $50k, maybe the bear season is about to start.

However, this correction phase may be considered a good entry for everyone who wish to buy more cheap coins. Just seize the moment and we will be celebrating again once the market returns to normal and become bullish again.

[LUCKMCFLY]

Usually bitcoin traders react to news well in advance which might have happened this time also; like for expectation of upcoming dump from gtmox refund, traders might have booked profits/exited their positions with the plan of buying back to cheaper price levels and made the recent correction.

I remember by the times of 2018/2019, some whales in reference like gtmox trustee, was continuously dumping big amount of bitcoins and made bitcoin prices to get back to below $10k levels even after bitcoin showed recovery up to $14k levels from the bottom of $3k levels.

But, this time I am sure they could not make similar kind of negative impact into bitcoin market by releasing BTCs; the current recovery from the $55k levels must be an enough proof for that.

Yes, I clearly remember as if it were yesterday, however there is an explanation for it, as I understand the market has to fulfill two phases, the Accumulation phase and the Distribution Phase, in 2017-2018 the accumulation phase occurred from the year 2014 to 2017, then the bullish trend emerged, and from there came everything that has to do with the Distribution stage, which is when the whales or the rich decide to start selling, and this is the distribution that consists of the expensive sale of shares or in this case BTC to those who do not know anything about the market, because many bought at $ 20k when they thought it would go up to $ 50k, and this is explained very well by Wyckoff's theory, which was what helped me the most to understand it everything.

[savetheFORUM]

I hope that the price rises through 60k again and this time around I am expecting 70k to come.

So far what has been the actions you have decided to take? The market has still remained at this same level of $54k - $55k and nobody can tell whether it is going to recover or not. We are just a few days to December and the market is not yet bullish. Analysis that I have seen so far are not really helping at all, it shows that no one really knows where we are heading to from here.

The market rose to almost $60k price some days past, and we all thought - that was it, it’s finally going to cross the $60,000 mark again – unfortunately, that never happened, instead it dropped to a lower price. But I am believing somewhere around the end of December, the market will be bullish.

[Golftech]

Yes, I clearly remember as if it were yesterday, however there is an explanation for it, as I understand the market has to fulfill two phases, the Accumulation phase and the Distribution Phase, in 2017-2018 the accumulation phase occurred from the year 2014 to 2017, then the bullish trend emerged, and from there came everything that has to do with the Distribution stage, which is when the whales or the rich decide to start selling, and this is the distribution that consists of the expensive sale of shares or in this case BTC to those who do not know anything about the market, because many bought at $ 20k when they thought it would go up to $ 50k, and this is explained very well by Wyckoff's theory, which was what helped me the most to understand it everything.

You need to have deeper understanding in order to decide and invest appropriately, it's not just buy the hypes and sell

when downfall takes place, you are wasting not only your money but most of your time. Knowing the grounds is important

inside this industry, bear and bull need to be reviewed very well before concluding or deciding your side.

Assess and observe every information that you gathered. Not everything is for real. Most are just for hypes or to drag down

the market know to balance your decision making.

[breathlessz]

I hope that the price rises through 60k again and this time around I am expecting 70k to come.

So far what has been the actions you have decided to take? The market has still remained at this same level of $54k - $55k and nobody can tell whether it is going to recover or not. We are just a few days to December and the market is not yet bullish. Analysis that I have seen so far are not really helping at all, it shows that no one really knows where we are heading to from here.

The market rose to almost $60k price some days past, and we all thought - that was it, it’s finally going to cross the $60,000 mark again – unfortunately, that never happened, instead it dropped to a lower price. But I am believing somewhere around the end of December, the market will be bullish.

we all can only predict by approximation, and for the reality then we can only wait. no one knows exactly where the market will go until the end of this year, considering that many believe that a bull market will occur at the end of the year. with the spread of trust like this, hopefully it will lead traders' opinions to buy simultaneously at the end of the year

[TheUltraElite]

we all can only predict by approximation, and for the reality then we can only wait. no one knows exactly where the market will go until the end of this year, considering that many believe that a bull market will occur at the end of the year. with the spread of trust like this, hopefully it will lead traders' opinions to buy simultaneously at the end of the year

End of the year usually sees a mix of bear>bull. Holidays are the time people spend for gifts and buy stuff they would need for the winters before the new year sets in.

Current price shows bitcoin at 57k, this shows there is an oscillation between 60k-54k USD happening and therefore the prices lower than 54k should be bought and over-bought at. If you are looking for a quick flip, this is the chance.

What will really happen in the year end, nobody can predict, but with the new cryptocurrency bill coming in India, some hopeful light is showing up regarding regulation - dont fall for the knee-jerk response of bearish which comes after the bill gets introduced, the long term effect will be positive.

[Obito]

The price is still going down if not it's hovering around 57k so we still have the opportunity to buy at this point or we could wait for it to go down further, it seems that the customers of Mt. Gox that have their bitcoins returned never affected the market too much. Hopefully I have a lot of money when the price goes down even further.

[STT]

Trading wise reversing a breakout and failing to hold that is surely a bearish sign.   Is the market overall in a bear trap is not correct just from that move, all the long term averages are moving upwards with good reason we've spent most of the year accumulating and nothing has mitigated that especially so far in volume terms etc.  Caution while we remain below 50 day average

[michellee]

we all can only predict by approximation, and for the reality then we can only wait. no one knows exactly where the market will go until the end of this year, considering that many believe that a bull market will occur at the end of the year. with the spread of trust like this, hopefully it will lead traders' opinions to buy simultaneously at the end of the year

If bitcoin can sustain the $57k level and even get up to the higher price, we will not see a bear trap instead, we will see the bull trend comes again after waiting for some time. But as we do not know what will happen to bitcoin as we see the price is down for a small price, it can go back to the $56k range in these two days but we have more chances to see the price will increase more in the next months. But we already make a nice profit right now if we bought bitcoin below $56k and hold until now because the price can increase more than $2k, which means we can take profit.

[Wawa2013]

Yes, I clearly remember as if it were yesterday, however there is an explanation for it, as I understand the market has to fulfill two phases, the Accumulation phase and the Distribution Phase, in 2017-2018 the accumulation phase occurred from the year 2014 to 2017, then the bullish trend emerged, and from there came everything that has to do with the Distribution stage, which is when the whales or the rich decide to start selling, and this is the distribution that consists of the expensive sale of shares or in this case BTC to those who do not know anything about the market, because many bought at $ 20k when they thought it would go up to $ 50k, and this is explained very well by Wyckoff's theory, which was what helped me the most to understand it everything.

You need to have deeper understanding in order to decide and invest appropriately, it's not just buy the hypes and sell

when downfall takes place, you are wasting not only your money but most of your time. Knowing the grounds is important

inside this industry, bear and bull need to be reviewed very well before concluding or deciding your side.

Assess and observe every information that you gathered. Not everything is for real. Most are just for hypes or to drag down

the market know to balance your decision making.

To become successful investors, we must be able to do research and analyze well. That's to predict where the market will move, so we can make
the right decisions. Many investors are panicking to see the decline in crypto prices now, but if we understand how the crypto world works,
the downturn that is happening now is normal and we don't need to panic. Because the crypto market is very volatile, so when the price has gone up
very high, then now is the moment where there is a correction. So we should take steps to buy potential coins now, and don't sell coins when
the market is down like now. Based on the analysis I did and from some of the information I gathered, it is possible that near the end of the year
the market will be bullish again. Even for some coins it is possible to reach new ATH, so be patient holding the coins we have now, if we don't have
money to buy coins again.

[Sebas.tian]

The way bitcoin and other altcoins are reducing in the market, it will be better to hold and watch very well not to fall into failure at this season. Any trader who can bear in this season we are, will really enjoy when the price of bitcoin increase to $60k. Now that we are approaching end of the year where many investors are waiting for the market to change for their favour before they can supply to market for profit making.
What happened 2020 where altcoin price continue to reduce till the end of the year before it start increasing for their customers to achieve their goals will not happen this year. Altcoin price will definitely rise for investors to make a good profit before the end of the year 2021.