Alt market today

[lienfaye]

BTC is back at 40k and some alts like BnB and ETH are slowly rising again is this another bear trap or bull trap? What are we looking at here? To me it looks like the market keeps going down.

Regardless for the reason on this minor increase, its a relief that despite of the current problem we're facing (war, inflation etc.) the market is not decreasing consistently, because crypto particulary BTC is still bouncing back. It can be a bear or bull trap but be wise to do what you think is beneficial for you. Anyway im not bothered by this situation because I am more optimistic that the future is bright for crypto, as long as you can wait until that moment. So if you're holding Bitcoin and established alts, dont mind their current price now, certainly it will have a huge increase once bull market occur again.

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[TopT3ns]

Still have speculative after Ukraine legal cryptocurrency as currency payment beside they have open donation trough cryptocurrency, maybe this effect make bitcoin suddenly pump almost $2,000 from $39,000 become $41,000 although right now drop to $40,000. Still not have positive side with Ukraine government legal cryptocurrency because on other side they ask to several exchange market from Coinbase, Binance until Huobi for suspending all Russia cryptocurrency member, one side have good thing with bitcoin have been legal transaction on Ukraine but another side have bad thing if try to banned Russia cryptocurrency member.

[husdemba]

The answer to this question is completely unclear. I think this could be a bear trap. If the bull season had started, it would have risen harder. In my opinion, you shouldn't trade without placing a stop loss order.

[Adbitco]

This could be like market correction looking too well it has remains between 37 to 40k for about a week now possibly could be the Russian and Ukraine war, this likely affected most of the currencies out there if not those moving against the direction of Bitcoin.

The answer to this question is completely unclear. I think this could be a bear trap. If the bull season had started, it would have risen harder. In my opinion, you shouldn't trade without placing a stop loss order.

The market can't just jump over a night maybe there would have been gradual increase or growth. But i will read through many thread to know if is actually the bull or not.

[tvplus006]

...However, it was still looking positive, the price of Bitcoin managed to keep not below $35k despite all of these things which means that people are still holding and remain calm.

The price of bitcoin has been adjusted for a long time, but the price of most altcoins has lost up to 70% of its value during this time. Accordingly, the spring has already been compressed to the maximum and we can expect that in the near future an altcoin pump will follow, which will be accompanied by a decrease in BTC dominance.

[asyakashi]

BTC is back at 40k and some alts like BnB and ETH are slowly rising again is this another bear trap or bull trap? What are we looking at here? To me it looks like the market keeps going down.

itcoin is trying to get back higher, so far it is not certain whether bitcoin will indeed fly high or this is just a bull trap.
I don't expect bitcoin to fly away so soon, it's better that bitcoin is stable at the current $40k price, it will help the growth of altcoins to get the best price.
For ETH and other coins of course they will follow the movement of bitcoin a bit, I believe one bitcoin resistance has been crossed, that's why some coins are starting to rise slowly.

[rozak]

The answer to this question is completely unclear. I think this could be a bear trap. If the bull season had started, it would have risen harder. In my opinion, you shouldn't trade without placing a stop loss order.

a pump that occurs will be followed immediately by a correction, this is not a bull run. not all altcoins are affected by the bitcoin pump either. it is worth noting now how corrections can come very quickly. don't expect to wait for ATH to come in a short time. the altcoin market could quickly correct deeper.

[JeffBrad12]

The answer to this question is completely unclear. I think this could be a bear trap. If the bull season had started, it would have risen harder. In my opinion, you shouldn't trade without placing a stop loss order.

Stop loss order was a must even when you are playing in the future coz the volatility in the market is so fast. Bitcoin can be pumped and dumped in a short time. People are still feeling confuse about which trend that will occur this time but they have no clue as what they have predicted may not come true. Bitcoin can be dumped even in a few minutes. The volatility can turn a bearish to the bullish and otherwise bullish to the bearish trend instantly without need waiting for a quarter or even a year for it to happen.

The bulltrap already happened a few days ago and market is facing another rally. Im not sure if this is a bear trap. It seems like we are facing another really and it's not only a trap anymore.

[Maestro75]

most likely this is a trap. the past few weeks our focus has been on russia-ukraine to the point of forgetting that the FED will announce a rate hike in a few moments.

It does not look like a trap to me. Maybe price is beginning to turn from here. And that can be because insiders have the feelings of what the FED position on rate will be and are buying on that unreleased news ahead of its release. You made a point about the Russia/Ukraine war causing people to forget about important things and making them secondary now. Nobody talks about coronavirus and the daily number of infected people. Or is coronavirus no one? Has it ended? This is one reason alot of people say that coronavirus does not exist and that it is a game to cause panic. So the war cured the world of coronavirus madness?

[hyudien]

Do not consider it a trap, because Bitcoin is not a shitcoin that traps investors to lose. So no traps even if the price goes back below $40K though. Because you will have long term benefits. We believe that no matter how bad the speculation out there has lately been used as a weapon in saving inflation, the fact is that when the war is still ongoing fiat currency weakens, then only Bitcoin gives the option to keep its value. Do not be taken in by temporary market sentiment, because you will only be easily fooled. So drop money in Bitcoin on a regular basis, because that's where various advantages can be seen.

Bitcoin is also sometimes manipulated, and bear and bull traps have often occurred. And now there is no guarantee that we are not in a trap. The FRS have raised interest rates for the first time since 2018. And after this news the whole cryptocurrency market started to rise. It seems strange, considering that this event should have no impact on cryptocurrencies. So we can assume that the rise now could easily turn out to be a bear trap.

Regardless of whether it is called a bear trap or not, if we match it with the current movement and adoption that occurs, there may be 2 choices, namely as a trap or indeed as an increase that leads to a bullish market again. Given the current rising issue, crypto is becoming an ideal target by people in Ukraine, Russia and some other countries who are trying to enter to take alternative payments.

If you pay attention to Bitcoin price movements, then I would certainly say that this is a good start for long-term holders. Survive over $40K in days, keep your keys safe.

[isaac_clarke22]

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It's just the market stabilizing around a certain price and just don't do anything at all. It's nothing to be excited about nor be worried about, OP.
Maybe a best way for day traders to take advantage of it.
I was a day trader back then, lol.

[5W-KILO]

Use stop loss in your daily trading that's the best advice I can give because this present market is unpredictable, either bull or bear trap make sure you play a safe game.

[Psynthax]

could be just a temporary market recover, regardless though if the crisis of economy and geopolitics that are caused by covid and the current invasion are still going we could see that the market might be turning for the worse
but regardless if just the market of bitcoin could holds its current valuation that is at around $40k we could see great bullish run if we could start from the valuation of $40k and could easily reaches the ath.
you just don’t get your expectation too high in this moment around because many things are holding back the market from having a great bullish run, maybe in 2023 things will get better.

[Kelvinid]

BTC is back at 40k and some alts like BnB and ETH are slowly rising again is this another bear trap or bull trap? What are we looking at here? To me it looks like the market keeps going down.

Well, for me, I took the market in both situations, dumps, and pumps. The majority of the altcoins are depending on the trend of Bitcoin and while BTC moves in a zigzag pattern, we can therefore expect the same chart we see with the altcoins. Definitely, it wasn't a bull or bear trap, and certainly, we don't be wondering why the market behaving like this is very usual.

We just hope that Bitcoin will move back high again so we can see altcoins will rally back high. Yes, of course, we have to be patient as this never happens instantly, ever.

[kaya11]

We are having the same questions and yet here we are talking without sources and spurting ideas with 0 percent accuracy at all. One thing for sure is that I won't sell my ether at this time of moment. It was 4k USD last time and I want to expect more, so whether it goes a little bit higher than the current price doesn't bug me at all. Same for BTC, just wait see for yourself where this would lead you. Unless you are some kind of a professional trader who knows their stuff then it is a different thing.

[Saisher]

BTC is back at 40k and some alts like BnB and ETH are slowly rising again is this another bear trap or bull trap? What are we looking at here? To me it looks like the market keeps going down.

Not going down but stabilizing, opinions are divided about the status of the market because of the ongoing war between Ukraine and Russian many thought that it could start WW3 or Cryptocurrency will be maximized because both Russians and Ukrainian will opted for Cryptocurrency to salvage their assets these are all possibilities and scenarios and the market is still hanging but I'm positive despite all this the market will improve just like what happened in the pandemic.

[Tony116]

BTC is back at 40k and some alts like BnB and ETH are slowly rising again is this another bear trap or bull trap? What are we looking at here? To me it looks like the market keeps going down.

Not going down but stabilizing, opinions are divided about the status of the market because of the ongoing war between Ukraine and Russian many thought that it could start WW3 or Cryptocurrency will be maximized because both Russians and Ukrainian will opted for Cryptocurrency to salvage their assets these are all possibilities and scenarios and the market is still hanging but I'm positive despite all this the market will improve just like what happened in the pandemic.

War is not the cause of market turmoil. The market was in a downtrend towards the end of 2021 after hitting an ATH 68k. BTC is still moving sideways in the 40k range and there is no clear bullish or bearish signal yet. The only thing we can do now is be patient and wait.

To me it looks like the market keeps going down.

In the short term, I think like you the market will continue to go down.

[noormcs5]

BTC is back at 40k and some alts like BnB and ETH are slowly rising again is this another bear trap or bull trap? What are we looking at here? To me it looks like the market keeps going down.

We are still in the war situation and I don't think this pump in bitcoin will be stable. Altcoins are showing some more progress because retail is looking bullish over bitcoin. I would suggest to trade with extreme caution at the moment. If the trade is absolutely necessary then make sure to use tight stoplosses.
We cannot say that bitcoin is bullish unless there is complete peace between Ukraine and Russia.

[TravelMug]

BTC is back at 40k and some alts like BnB and ETH are slowly rising again is this another bear trap or bull trap?

Still to early to say if we are in a bear trap or not, but personally it looks like it. Yes BTC is back to $40k but it's getting harder to get to the next price barrier which is like $43k-$45k. So it seems that someone is playing behind the market.

What are we looking at here? To me it looks like the market keeps going down.

Just remain cautious, and maybe it's better if we think that we are really in a bear market. So that you won't get disappointment if the market turns into red again in the next 2 weeks.

[raidarksword]

Good news coming in that's why bitcoin trying hard to make steady on 40k$ and that makes a great bounce from the dip market. Slowly but surely market is recovering and alt cons will rally as well soon. It's just a matter of time, altcoins will fly high again along side with bitcoin.