A little profit for $17k+ buyers

[Zilon]

Bitcoin from Saturday 18 june 2022 with bitcoin price at 17,749 kept rising and after moving up from $18k to $20k has been fluctuating around $20k+ and as at yesterday 17th of july price rose to $21k and today 18th july it is hanging above $22K. Is this another fake bull or bull trap by the market is it late to buy since the price has reached a resistance zone or is the risk still worth taking remember never buy high

for me i am seeing a fake bull what are you seeing


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[1714589676]

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[Poker Player]

Is this another fake bull by the market is it late to buy since the price has reached a resistance zone or is the risk still worth taking remember never buy high

for me i am seeing a fake bull what are you seeing


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As I see it, the price is not high at these levels, so it is a clear buy zone. Besides, I don't know what you mean by fake bull. I think we are going to stay in the $17k-$30$ zone for a few months at least. I wouldn't call it a fake bull if it goes up a little bit now and then goes down. More like normal oscillations within a kind of sideways after reaching the bottom.

[mk4]

If I were to guess, it's a relief pump just to balance out the over-bearishness. People have been racking up so much leveraged shorts that they needed to be taken out first.

With that said, looking at price pumps at the previous bear market, something like $30k for the short term-mid term isn't impossible. Probably a good temporary long position.

[Charles-Tim]

It is very possible that it is just a bull trap. But be it bull trap or not, if you want to hold for long, you can buy bitcoin now, hold it for long like 3 years and you will make profit.

Only swing traders can be affected if they buy. But no one knows if the price will increase more before the price will decrease again but better to be on the safer side if not investing for long.

[Bttzed03]

The topic is probably better discussed by day traders. It's only them who would say price is high at this time or late to buy because they buy/sell on certain timeframes. As for me, it's still a long way to go before we start talking about fake bull. I think what you're seeing right now is just a part of the market moving sideways until the next bullrun. It's not too late to buy at these prices.

[hugeblack]

We can say that the price rose if it broke the resistance barrier, which is represented by levels above 23.4K, something that has not happened so far.
So what is happening is that the price is moving in the price range from 17.1k to 23.2K, and it did so several times and was unable to break that barrier.
Therefore, if we do not succeed in rising, we will witness a correction in the price, but it is difficult to predict its amount.

[blockman]

Is this another fake bull or bull trap by the market is it late to buy since the price has reached a resistance zone or is the risk still worth taking remember never buy high

for me i am seeing a fake bull what are you seeing

Fake or not, these moves are normal for bitcoin. We intend to see these traps that just happen to liquidate the shorts and then the actual short is about to come once everyone has been squeezed already. And about being late to buy, you're the only one that can answer it because you're the one who's got the plan to hold for long or not. So if you're short then when it's up, you shouldn't buy it. But if you don't mind holding for long then you'll just do what you usually do and that's to buy until the real bull run comes.

[YOSHIE]

for me i am seeing a fake bull what are you seeing

I am more inclined towards external factors, I believe the current soaring Bitcoin price includes individuals, it seems as if they have a selfish nature, for individual interests.

Considering the current crypto market is a little hard to predict, what I see today is a little slow moving, not the same as the real fortress market, a lot of crypto today is in the opposite direction.

I honestly don't believe the current stronghold market can change the crypto market as a whole be it a new ATH or a growing market, which I believe is a disaster and will cause a conflict of panic for those who haven't bought Bitcoin at this time.

[Luzin]

If I were to guess, it's a relief pump just to balance out the over-bearishness. People have been racking up so much leveraged shorts that they needed to be taken out first.

With that said, looking at price pumps at the previous bear market, something like $30k for the short term-mid term isn't impossible. Probably a good temporary long position.

It may be fake bulish, but I agree some weeks we have a price drop and some days we go sideways. So it is natural that if there is a price increase, the disposal has saturated its time to collect again. I think we should look tomorrow for confirmation of whether it will be able to break through the 22,500 price high after the bearish phase.
Perhaps if it manages to appear cndle confirmation bulish the next price may be around $28k. But stay alert bearish waves can still occur, be careful with fake rebounds, maybe you are safe if you use the Stop loss feature.

[ChrisPop]

This remains to be seen...

If you are conservative trader you should generally wait for confirmation. A candle close above ~$22.5k preferably with decent volume would be a signal for me that we are ready to move to the next resistance - perhaps the $28k level. But the type of confirmation you wait for (horizontal break, ema intersection, stochastic cross, etc.) should be subjective to your own trading strategy.

[Finestream]

Bitcoin from Saturday 18 june 2022 with bitcoin price at 17,749 kept rising and after moving up from $18k to $20k has been fluctuating around $20k+ and as at yesterday 17th of july price rose to $21k and today 18th july it is hanging above $22K. Is this another fake bull or bull trap by the market is it late to buy since the price has reached a resistance zone or is the risk still worth taking remember never buy high

for me i am seeing a fake bull what are you seeing


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I guess the bear season is not yet over, and all we have right now are just signs of price fluctuations that could only end up to another bull trap. So do not expect much while bitcoin is even hard to sustain its $21k-$22k price range. But one thing is certain, those who have bought bitcoin below $20k have been making small profits already, that is if they are now selling. But it would create a bigger profits in the next couple of months if they prefer to hold more their bitcoin.

[Hyphen(-)]

Bitcoin from Saturday 18 june 2022 with bitcoin price at 17,749 kept rising and after moving up from $18k to $20k has been fluctuating around $20k+ and as at yesterday 17th of july price rose to $21k and today 18th july it is hanging above $22K. Is this another fake bull or bull trap by the market is it late to buy since the price has reached a resistance zone or is the risk still worth taking remember never buy high

for me i am seeing a fake bull what are you seeing

I am not sure this is a sign for Bull run now because this cryptocurrency market has been like this a very long time now, since the beginning of the year the market was never stable. Right now, the Bitcoin price has dropped bellow $22k now, I also its a fake bull.

[GeorgeJohn]

Bitcoin price is taken a drastic step of increment, because since  two weeks now, bitcoin price is increasing and moving higher and higher, so therefore i think that nineteen thousand (19k) and within Same week bitcoin price increase to twenty thousand (20k) and currently we experienced twenty one thousand (21k) and twenty two thousand today (22k) which i believe that since the bull run have started it will continue to run.

[barbara44]

Btc price now was at 22.2k and if they bought at 17k then I think the profit that they are getting isn't really considered as small especially if they bought a lot of coins. You will think that this was another bull trap because this same scenario have happened many times now but we can't always be like that so I think that this one is serious now and this can be an indication that the bull run is starting.

Whatever direction we are heading with, anyone is still welcome to buy because for me, 22k is still a good value. I don't consider this as a high price but if you think it is and you think there are still another dip to come then you are also welcome to wait.

[Rufsilf]

Every pump that the market does will eventually give us the chance to make a profit. Even if it was only a $100 increment, that is still a profit and a smart trader will simply take that opportunity rather than wasting their time waiting for a huge pump which is likely impossible to happen this time. At this bearish time, we need to be more strategic enough in order to survive in trading, or else, we just put everything on hold and stop doing this.

[palle11]

I think what is happening in the price of bitcoin is correction from the bear the price has witnessed since the past three months. The price kept dropping from $40k and hanged around $30k for a long time before seeing the down of $20k . So right now with the little move up we can still see it more in the week before the bear comes back because the price is likely to stay down till we approach next halving.

[Mahanton]

Every pump that the market does will eventually give us the chance to make a profit. Even if it was only a $100 increment, that is still a profit and a smart trader will simply take that opportunity rather than wasting their time waiting for a huge pump which is likely impossible to happen this time. At this bearish time, we need to be more strategic enough in order to survive in trading, or else, we just put everything on hold and stop doing this.

This is true and we know that there are different types of traders whether its a long term holder or short time or active traders which these movements are indeed relevant for them to make some action.
For those who do able to get in even on just 19k price few days ago on where making profits on the current price is definitely still a solid one since we are already 23k+ as of this writing which
isnt bad for a profit right? For those who had accumulate for long term then these movements wont really be that much of an issue thats why i have said that there are different types
which would end up on different dealings and decisions to be made whenever the market do make out some positive movement.

[Russlenat]

Bitcoin from Saturday 18 june 2022 with bitcoin price at 17,749 kept rising and after moving up from $18k to $20k has been fluctuating around $20k+ and as at yesterday 17th of july price rose to $21k and today 18th july it is hanging above $22K. Is this another fake bull or bull trap by the market is it late to buy since the price has reached a resistance zone or is the risk still worth taking remember never buy high

for me i am seeing a fake bull what are you seeing


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Looking at the current price for bitcoin, its very obvious that those who bought bitcoin before are profiting already, only if they decide to sell. Well, there's no wrong in selling early as long as you never sell for a loss, and the hope that you'll buy back again once bitcoin turns cheaper again. However, i am not certain with the current price surge because anytime it could drop again and end up as a bull trap. So to avoid regrets, might as well let's continue to hold our bitcoin and only sell them if the market bull run has totally appear.

[Oceat]

I think what is happening in the price of bitcoin is correction from the bear the price has witnessed since the past three months. The price kept dropping from $40k and hanged around $30k for a long time before seeing the down of $20k . So right now with the little move up we can still see it more in the week before the bear comes back because the price is likely to stay down till we approach next halving.

So basically what you are saying was it's all just a bull trap hoping someone would dump or let's just say to remove the weak hands. Well, that's what I'm feeling right now since in the past a trend like this would not end just like what happens when there's a bull run and since we are in the bear market already there's a huge chance that this will not continue to pump as the others expected. So it's a limited pump that soon would perish once dumpers took it all just for the sake of profit. Well, if they did that then a decline happens they could just buyback again.

[kamvreto]

I think what is happening in the price of bitcoin is correction from the bear the price has witnessed since the past three months. The price kept dropping from $40k and hanged around $30k for a long time before seeing the down of $20k . So right now with the little move up we can still see it more in the week before the bear comes back because the price is likely to stay down till we approach next halving.

So basically what you are saying was it's all just a bull trap hoping someone would dump or let's just say to remove the weak hands. Well, that's what I'm feeling right now since in the past a trend like this would not end just like what happens when there's a bull run and since we are in the bear market already there's a huge chance that this will not continue to pump as the others expected. So it's a limited pump that soon would perish once dumpers took it all just for the sake of profit. Well, if they did that then a decline happens they could just buyback again.

those are some manipulations by the whales, the market will not continue to pump, it is possible that a bull run will also occur while the market is still in a bear market.
We as small traders can only follow market trends that occur. The current high of btc is in the $23,600 area, buying at $17k and holding it until now will certainly benefit a lot. Sell ​​some for profit and hold it for the long term.