Was $73k plus a bear trap?

[Dr.Bitcoin_Strange]

I don't have plans to sell  my bitcoins right now, I already sold when price was good, now is the time to buy more, based on my speculation, bitcoin is likely to go to $80k this month or not, I don't expect that bitcoin is still going to end in red  this month, but we can not be right in our prediction everytime, in the crypto market, nothing can be impossible, we could have a clear direction of the market but it would later turn out that the market has gone against our prediction.

[lizarder]

I told him instead sell the little you had and take profits at 73k and wait for the market to drop so that you could buy more cheaper, he said that we won't see $60k+ again, I told him to calm down and watch the market if we don't go back to within 60k.
Currently right away as I am creating this post, bitcoin is 67k from 73k.

If it was you would sell at 73k and buy back at this price now?

Personally I wouldn't sell my current position because it might not be the right time to sell Bitcoin holdings under current conditions. When it comes to trading, the selling and entry prices can be crucial because we're looking for profitable opportunities during this period. Taking the wrong position could result in significant losses. That's why I never enter the market to trade under these conditions as it can be a little more difficult to predict price movements, especially given the relatively volatile nature of Bitcoin's price movement.

It's more profitable to hold, as long as you understand Bitcoin's journey cycle because under current conditions you don't need to worry too much about whether to sell or not. Trading is much riskier, especially under current Bitcoin conditions, so caution is needed when seizing opportunities. If we lack strong trading skills, we will face many problems and ultimately suffer losses due to poor decisions.

[Odusko]

I was called by a friend days back that bitcoin had already made its way to 73k now that it is actually heading 80k if time not taken that he wanna starts buying now, I just smile a bit and said to him, "please just relax a that market won't touch 80k as you said" He argued with me saying that is not possible that whatever that makes the market break out from 70-73 that we are approaching 80k that bear market is over. I told him instead sell the little you had and take profits at 73k and wait for the market to drop so that you could buy more cheaper, he said that we won't see $60k+ again, I told him to calm down and watch the market if we don't go back to within 60k.
Currently right away as I am creating this post, bitcoin is 67k from 73k.

If it was you would you sell at 73k and buy back at this price now?

This trade can fit into bitcoin speculation and should be moved to the speculation board.
That said, trading discussions on bitcoin when the price recovered to $73k last week, which was a short-term market recovery and only those who traded future market and longed on the market make that shirt term gains, most other s where waiting for the price of bitcoin to reach the 80k price benchmark for them.

[Alphakilo]

I was called by a friend days back that bitcoin had already made its way to 73k now that it is actually heading 80k if time not taken that he wanna starts buying now, I just smile a bit and said to him, "please just relax a that market won't touch 80k as you said" He argued with me saying that is not possible that whatever that makes the market break out from 70-73 that we are approaching 80k that bear market is over. I told him instead sell the little you had and take profits at 73k and wait for the market to drop so that you could buy more cheaper, he said that we won't see $60k+ again, I told him to calm down and watch the market if we don't go back to within 60k.
Currently right away as I am creating this post, bitcoin is 67k from 73k.

If it was you would sell at 73k and buy back at this price now?

Your friend was just too emotional to begin with while you already figured out the math and knew exactly the right thing to do so as to make some profit.
In reality the move to sell at $73k would have made ones portfolio to be bigger because of the profit gotten while those who decided to hold would still remain as they were unless they act on their impulse to sell or diversify or liquidate in absolute.

It might be looking like a bear trap also, but I really don't care about that because volatility is unpredictable and the market can regain the 8% loss and triple it in a blink of an eye.

[Powerjumboo]

I was called by a friend days back that bitcoin had already made its way to 73k now that it is actually heading 80k if time not taken that he wanna starts buying now, I just smile a bit and said to him, "please just relax a that market won't touch 80k as you said" He argued with me saying that is not possible that whatever that makes the market break out from 70-73 that we are approaching 80k that bear market is over. I told him instead sell the little you had and take profits at 73k and wait for the market to drop so that you could buy more cheaper, he said that we won't see $60k+ again, I told him to calm down and watch the market if we don't go back to within 60k.
Currently right away as I am creating this post, bitcoin is 67k from 73k.

If it was you would sell at 73k and buy back at this price now?

When the price of Bitcoin started to rise, it seemed like there would be no more dumping, now maybe the market would go up, not down. When Bitcoin was fluctuating from $60,000 to $63,000 and $67,000, I always thought that the market might not stay like this and would go up very soon. When Bitcoin gradually rose to $74,000, I was very happy that the market might not stay like this anymore and would soon cross $80,000, but currently we are seeing the market fall again. The fact is that we cannot predict the market correctly, which is why we cannot know which direction the market will go, but for this we need to use the DCA method for investing so that we do not have to worry about the market and for trading we always have to be careful and buy at the right time.

If I sold my Bitcoin for $73,000 and after selling, I waited and got Bitcoin back to its current position, then I would buy Bitcoin because I couldn't stand still.

[BitMaxz]

If it was you would sell at 73k and buy back at this price now?

Well, the price momentum when the price touched $73k has weakened since Friday. Since there's not so much volume on weekend it's obvious the price down are from retail traders and small sellers.
We don't know if this would bounce again back to 73k and reach more than that, but Monday is unpredictable; the huge pump might happen near the London session or 2 hours after the London session.
If there's no pump at that time for me, I wait for the London session to close; that is where the big volume is while the NY session is open.

We might still see some more slight drops here, and Tuesday would be a good start to analyze the market to see if the momentum is changing or not, but for me, I am still waiting to see the $80k level hit. Remember, the market is always attractive to huge liquidity, and this is the place where the golden retracement is on Fibonacci, so bearish is still not done yet. We just experienced a slow retracement here before hitting $80k.
I might be wrong, but that is my own analysis. There's also another scenario that could happen here: it might drop more to $65k for a retest before it pumps to retest the $73k. If it fails, then expect the next week to be bearish.