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.

[Nheer]

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.

Of course now is the perfect time to buy more Bitcoins instead of selling them. The dip is always an opportunity to buy and not to sell due to panic but I believe many experienced investors and traders will be aware of this now and not rush to sell out of their plans.
For long term investors it doesn't matter where the price moves to they wouldn't mind holding until they are through with this dip. Well you're right that we can only make predictions but we are not so sure about how the market will move. We make predictions but the market moves in a manner that pleases it so for me I don't think it will end the month at $80k I think it will end below that mark.

[summonerrk]

Commissions on the BTC network are growing: the average fee has risen from $0.42 to $0.62 per transaction.
The positioning of major crypto players on CME shows that institutional demand persists, the sell-off is over, and the hedge is a priority. And at the same time, the crypt has not received a full-fledged risk-on impulse, because the overall macro background remains toxic.
What am I waiting for next?
With net inflows to ETFs remaining at ≥ $100-200 million/day, a corridor of $70-80 K is most likely before the end of March. Yes, higher than the one we're in now.
$76–80K will become achievable if: Brent will go steadily below $90; The DXY will start to adjust from 100 downwards.
Next week, the range of $1,900-2,350 is likely, with the potential to reach the upper part while maintaining daily inflows into ETH‑ETFs and on‑chain accumulation.
The week closes under the sign of oil, a strong dollar, weak stocks and the recovery of the crypto market.

[Mpamaegbu]

Wrong  title , it should  be "bull trap " not "bear trap".

You're right about that. I don't know why OP hasn't edited it till now. It's misleading, as it were.

On the price speculation of Bitcoin, even if anyone bought that high at $73k, they shouldn't  panic. Just overlook the dipping whenever price does its thing. It's normal for market to react to events and then readjust when fundamentals align positively. This ongoing war with US and Iran has made it near impossible for our speculations to hit close. As for me, I'm just on the sidelines, watching what price does now.

[Arenga pinnata]

Bitcoin is just trying to reach the $80,000 USD price point again, as there’s a CME gap there that’s typically filled first. However, I think it will take some time to reach that price. So Bitcoin may continue to move sideways and remain volatile in the current range.



However, we must be cautious if Bitcoin manages to reach $80k, as that could actually be a trap. From there, people might start panicking and buying in, but personally, I would stop accumulating at that point. Because based on technical analysis, Bitcoin could actually drop even further after reaching $80k.

[Out of mind]

If we look at the current market situation, we can see that the market has already moved up a lot, which is much more volatile than before. The market fell a lot and almost half of the price in the market fell from the highest ATH, but looking at the current market situation, it seems that the bear market is slowly ending. Today, the market touched $76k, which makes us more optimistic that the market will soon move towards $80k. Many people bought when the market was very low, if they still hold on, then they have definitely made a lot of profit now. There are many people who bought when the Bitcoin market fell and will sell when the market increases at this time. However, we can expect that those who sell now will definitely not be able to buy from deep later, maybe because the market situation is good now and it is moving towards highs.

[EL MOHA]

but looking at the current market situation, it seems that the bear market is slowly ending. Today, the market touched $76k, which makes us more optimistic that the market will soon move towards $80k. Many people bought when the market was very low, if they still hold on, then they have definitely made a lot of profit now. There are many people who bought when the Bitcoin market fell and will sell when the market increases at this time. However, we can expect that those who sell now will definitely not be able to buy from deep later, maybe because the market situation is good now and it is moving towards highs.

I don’t know what you see that makes you think that the bearish market is actually done but if it is this uprising of the market then I will say that it is actually a bear trap and not any bull run. This particular market pump is actually one which is caused by the current state of the global economy due to the energy crisis caused by the war between US-Isreal vs Iran.

Personally I don’t believe that this will actually be start of the bull run yet because I expect the market to actually visit some certain lows first before the real bull run starts. Am I optimistic that it will start this year? Yes I am optimistic, in fact I expect the last quarter of the year to be bullish but for now I think the sellers are still very much in control

[Asuspawer09]

I mean it's already a great discount especially if you are going to look at it, that Bitcoin already came and drop from 126k$, its a huge discount, Still there was no actual way to predict how the market is going to move, you could easily say to wait or for a lot of investors they could speculate what every they want and say that it is never going to go back on 60k$ or it is not going to reach 80k$ at this moment it might take a long time again never it happened again, but there just no way that we can predict the movement of the market.

What we should assume here is this investment if going to be risky and we should always be careful on putting money on it, that means only invest what you can afford to lose, it doesn't going to matter since you cannot predict the price so DCA is always just the best strategy here, the best time to invest is right now so that you could start to position your portfolio and start accumulating already to increase your volume, so that when the market start a movement your already in a good position and ready to sell at any moment, early investors are always the one getting the last laugh.

[Crypto Library]

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

73k plus, I will say this bull trap not the bear trap.
If we analyze the markets, we can understand that when Bitcoin dropped from 109k to 74k a few days ago, this was the real bear trap of this bull season.

I would say that in the current case, the 73k or more bitcoin price we are currently seeing in the Bitcoin market is basically a bull trap before the bear season starts.  And there are reasons why the price of Bitcoin has increased in the past few days, and these reasons are that now big whales are also accumulating some Bitcoin.

[programmer3666]

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?

To be honest all this pump to around $75k as of now just looks like classic market manipulation to me. We are obviously still in a bear cycle and all these sudden moves up are usually there to trap people into buying late. Lot’s of people will start feeling like the market is going to $80k, then suddenly the price drops again and they get caught in the trap. It happens all the time. I still believe the price will drop again. This kind of move is not strong enough to confirm a real trend change, it just looks like a fake pump before another dip starts again.

[Jegileman]

As of this time in replying to hour post, Bitcoin is now trading above $74K which is a kind of looking bullish since it went as far as $75K before dropping. The Bitcoin market has been growing for two days now and many people now have the opinion that the bullish trend is back and also what you friend was saying is actually what some crypto prediction markets are saying also.  Many are now anticipating that after the $75K breakthrough, the market will grow to as far as $80K. Nothing is impossible now in the market but what time is that going to happen is what we will wait to see.

[tvplus006]

...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?

Even if someone sold at 73k, this does not mean that he could buy back by 67 thousand dollars for bitcoin, since when he has to make a purchase decision, he may not wait for such a decrease and buy BTC before the price reaches a lower level. Or not buy at all, because in anticipation of a lower price, the price of bitcoin, on the contrary, will increase.

[Odusko]

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.

I think most long term bitcoin holder's already expected this kind of short term market recovering and will not mind it to take any action, even those that bought around 60+ price are not in rush to sell now, since the long expectations is higher than this current recovery in the market, bitcoin will definitely recover back to 100k and more may at that time some of us can start think of cashing out some fractions from our entire bitcoin holding.

[yhiaali3]

Regarding the main question of the topic, which is "If you were in his place, would you sell at $73,000 and buy again at that price?" the answer varies from person to person depending on each person's strategy.

A short-term speculator or investor will take advantage of the first good rise in Bitcoin to sell at a good price and then buy back after the drop. He may succeed or he may fail because Bitcoin may not fall and may continue to rise, and thus he will have missed a great opportunity.

As for holders the answer is very simple: they will only sell in the long term or when they achieve the goal they have set in their minds beforehand and therefore this temporary rise and fall in the price of Bitcoin does not concern them.

[GreatArkansas]

Regarding the main question of the topic, which is "If you were in his place, would you sell at $73,000 and buy again at that price?" the answer varies from person to person depending on each person's strategy.

A short-term speculator or investor will take advantage of the first good rise in Bitcoin to sell at a good price and then buy back after the drop. He may succeed or he may fail because Bitcoin may not fall and may continue to rise, and thus he will have missed a great opportunity.

As for holders the answer is very simple: they will only sell in the long term or when they achieve the goal they have set in their minds beforehand and therefore this temporary rise and fall in the price of Bitcoin does not concern them.

If I trade this now, this is really short-term; if that shows in my technical analysis, then I'll do it.
But I'm not used to this kind of trade setup. I am the guy who zooms out more on the chart.

But when looking at the chart, this level, $73,000, seems to be a significant support and resistance recently, since last year. So for sure, that's why some telling it's a bear trap because before it's price level where Bitcoin breaks out or hold.