Bullish trap_What the lesson?

[IjawMan]

Some person somewhere is complaining why the Bitcoin price is rising now cause he does not feel he has bought sufficiently for price to begin rising now and for this he feels is a trap that price is going up right now.

People talk about "bull trap" and it is worth noting that this has been a big hindrance for people failing to buy Bitcoin when they should have, all cause that they were thinking it that price will fall down back before they can buy.

These are not people doubting bitcoin but that they where having a target price for Bitcoin to touch down low again before purchasing and they miss a good price to buy as Bitcoin price keep covering heights. Yesterday bitcoin was 77k and immediately these very people are now buying out of FOMO at a higher price and could not wait for the .false breakout to happen.

What is the lesson?

[Nwada001]

Bull trap or not, people just choose to call price movement whatever makes them feel okay. The pattern Bitcoin value spike was a surprise to me, but it's something I should be afraid of; those who are always looking at the best buying opportunity are the ones looking at the price from the trap angle.

What is the lesson?

Lesson here? There is no money lost; the opportunity to buy is still there, and those who doubted enter the market back. Even as they bought around $77k, there's still nothing wrong as long as it’s below Bitcoin's last ATH, and if the investor is not in for short-time profit, then there is an opportunity to make profit ahead.

[Oshosondy]

This should be more for traders and not fir those that want to bitcoin for a long period of time.

It is very possible that the price of bitcoin will fall back, but this should not bother those that DCA or those that are buying more bitcoin for a long period of time.

[BitMaxz]

I don't get what lesson you pointed to but it looks like you are pointing to people who said it is a bull trap.
Honestly, for me, it depends which one is heavy; if I don't know the reason why it pumps, the first thing we will think it's a bull trap but if the  U.S. Treasury is going to start the buyback operation that was just announced 2 days ago that's heavier, meaning it has a high impact on the market that leads to price pumps.

As traders, we have certain levels to consider first before saying that this is a bull trap or not, but as we can see, $70k to $73k breaks, meaning this is not a bull trap; it is actually a pure pump based on the recent announcement about the buyback operation and the announcement by Trump about the past crypto clarity act.

It means the recent pump was fundamentally influenced by recent announcements and news, not technically.

[Ojima-ojo]

What stop people from buying bitcoin is two main things.
Investors who believe what people say without doing their own research because of their lack of understanding of bitcoin price movements, this creates FOMO and eventually missing out entirely from in actions.


Either they are afraid of buying even at discount price because they lack money to actually buy and there for keep waiting until it fall to they own expected price affordable based on they cash flow, but often this never happens

[Mayor of ogba]

What is the lesson?

From your post two things made people not to buy bitcoin when they should have, which are talk of bull trap and waiting for the bitcoin price to fall to their target price. The lesson in your post is that people should never allow other people's opinion to stop them from accumulating bitcoin when they have available discretionary income and people should never wait for bitcoin to fall to the price they set for themselves before they should start accumulating bitcoin because it might not drop to that price rather they should accumulate bitcoin right away without waiting for an entry point.

[Joy- maker]

Traders and those investing in Bitcoin for a short period of time not necessarily long term holders will be complaining now that Bitcoin price is increasing. A long term investor won't even bother if Bitcoin price is increasing, rather they will continue doing their regular DCA because they have a target.

And anyone waiting for a good entry price will definitely miss buying opportunities, and those who accumulate Bitcoin because of FOMO, will eventually regret it later because they will sell their bitcoin at a lose due to panic when Bitcoin price start dropping again, this is because they must have invested an amount of money they couldn't comfortably afford to lose.

[Kryptowerk]

Some person somewhere is complaining why the Bitcoin price is rising now cause he does not feel he has bought sufficiently for price to begin rising now and for this he feels is a trap that price is going up right now.

People talk about "bull trap" and it is worth noting that this has been a big hindrance for people failing to buy Bitcoin when they should have, all cause that they were thinking it that price will fall down back before they can buy.

These are not people doubting bitcoin but that they where having a target price for Bitcoin to touch down low again before purchasing and they miss a good price to buy as Bitcoin price keep covering heights. Yesterday bitcoin was 77k and immediately these very people are now buying out of FOMO at a higher price and could not wait for the .false breakout to happen.

What is the lesson?

The lesson is simple:
Either you believe (or better: understand) that Bitcoin is a disruptive unique technology that has a great chance to prevail long-term for all the good reasons.
Then you just cost-avarage-buy whenever you can and play the long game, not worrying to "time the market".
Or you will chase lows and highs and most likely lose money in the long run compared to the steady-and-relaxed DCA (Dollar-Cost-Average) method. You'll just be a miserable gambler, trying to look like a trader.

[Rengga Jati]

Some person somewhere is complaining why the Bitcoin price is rising now cause he does not feel he has bought sufficiently for price to begin rising now and for this he feels is a trap that price is going up right now.

For long-term investors, it does not really matter what the current situation. Just keep holding. Even if you're not accumulating more yet, don't worry. Because we're doing it for the long term. There's actually more time to accumulate more during the bearish period.

People talk about "bull trap" and it is worth noting that this has been a big hindrance for people failing to buy Bitcoin when they should have, all cause that they were thinking it that price will fall down back before they can buy.

It’s possible this is just a bull run trap. Or merely a pump. Either way, don't panic! just go with the flow. If you want to take profits, do it while the price is pumping! Otherwise, just let it ride while keeping an eye on market movements. We all have targets we want to reach, right? Let's just stick to the targets we've carefully and thoroughly planned out so far.

[stompix]

What is the lesson?

That you need to go back to the drawing board and make sure next time you can actually present something in a way people can understand what the hell are you on to!

I don't get what lesson you pointed to but it looks like you are pointing to people who said it is a bull trap.

He doesn't make any sense with his scenario, people who have been hindered from buying Bitcoin couldn't have been scared by a bull trap as the coins was going down, any talk of a bull trap needs to have the price increase first, then people buying at the top, then for it to go dramatically low in price again. Someone not buying Bitcoin 6 days wouldn't have known of any of this.

Also, how can you say they are buying now out of fomo and not waiting for the false breakout to happen...
How in the name of God does any of this make any sense!

[Chibit01]

Either they are afraid of buying even at discount price because they lack money to actually buy and there for keep waiting until it fall to they own expected price affordable based on they cash flow, but often this never happens

Some people are just procrastinators. They always have reason to why they are not buying yet. Even if bitcoin falls down to its expected price they still will not buy, they don't know whatever value bitcoin is at, that's below it's all-time high is discount and should be treated specially.

[m2017]

Some person somewhere is complaining why the Bitcoin price is rising now cause he does not feel he has bought sufficiently for price to begin rising now and for this he feels is a trap that price is going up right now.

Just a week ago, when bitcoin was cheaper, this same person complained that the price had dropped and the crypto market wasn't growing; he feared a further falling and did nothing - he just waited instead of buying. Now that the situation has changed and the crypto market has turned around, he still does nothing but complain about missing the chance to buy at a bargain price - even though he could have done so. No matter what the market situation is, this person will keep complaining. And doing nothing.

Is it worth listening to such people's whining?

People talk about "bull trap" and it is worth noting that this has been a big hindrance for people failing to buy Bitcoin when they should have, all cause that they were thinking it that price will fall down back before they can buy.

A buyer purchases "here and now" (while also keeping a long-term perspective in mind) and doesn't wait for the perfect entry point.

These are not people doubting bitcoin but that they where having a target price for Bitcoin to touch down low again before purchasing and they miss a good price to buy as Bitcoin price keep covering heights. Yesterday bitcoin was 77k and immediately these very people are now buying out of FOMO at a higher price and could not wait for the .false breakout to happen.

What is the lesson?

The lesson is simple:
There is no need to "chase" the crypto market; instead, should buy based on a personal investment strategy focused on the long term. After all, what stops you from using a Dollar-Cost Averaging (DCA) strategy? That way, any market ups and downs become insignificant, as the final price of your investment portfolio effectively becomes an average.

[yhiaali3]

The lesson here is for speculators using futures and leverage who were betting on Bitcoin falling and were liquidated with more than $1.2 billion. Now speculators who expect the rise to continue could be exposed to the same trap and the same liquidation.

In other words, speculators are often the losers and long-term holders are always the winners, because holders don't care about all this fluctuation. They are committed to their long-term goals and will not give up their precious Bitcoin as long as they have not achieved their goals.

[GreatArkansas]

People deserve those if they already late on the train, lol. Some may get FOMO about this.
Waiting for dips often fails, fear of traps keeps people out.
Recently, when we just staying sideways on $60,000 levels: I just buy based on what I believe.

[jcojci]

Bitcoin down at June 05 and started rising at August 19, so they actually have two or three months to buy Bitcoin and enjoy their profit now. That is the thing they should do if they want to make a profit from Bitcoin and not thinks the increasing is bull trap.

If they prepare for a long term, they will not bother with the bull trap or others but they will start accumulating when Bitcoin price down.

When the price down to half to $60k level, they will considers to start their accumulation and buying gradually without thinking when the price will reverse. But now, they see the reality so they can sell some amounts and keep the rest for a long term or next ATH.

The lesson is just buy and don't think much about others speculation and wait for the time for Bitcoin price increases. They can use DCA method to accumulate and leaves the speculation.

[letteredhub]

In other words, speculators are often the losers and long-term holders are always the winners, because holders don't care about all this fluctuation. They are committed to their long-term goals and will not give up their precious Bitcoin as long as they have not achieved their goals.

Understanding the bitcoin market is very key to make profit without bothering on the noise from the market. While some people focus on speculating the possible direction of bitcoin price without even buying eventually, the rest others are calmly DCAing regardless of where price is moving to (upwards or downward) because at the end bitcoin will always win by breaking it's previous ATH, and when that happens it's only those that were DCAing that's makes the profit.

[Dave1]

What is the lesson?

No lesson whatsoever. It's not the first time that we have seen this kind of bullish movement in a bear market to even call it a trap. And if we just keep on buying Bitcoin and seeing this as a accumulation phase then good for you as you have stack up and most likely seeing a huge growth in your portfolio.

And so we shall continue what we are doing because it's the only strategy in the bear market. Keep on accumulating thru DCA and look in the future. That could be the only lesson, as historically, Bitcoin has proven itself and regardless of what we are seeing, in the end there will always be bull run. So we shouldn't take this short noises but look at the bigger picture.

[Dr.Bitcoin_Strange]

What most people failed to understand is that, they don't have control over the price of Bitcoin. Someone told me something one day and he said, "trade what the market is telling you and not what you want the market to do." Earlier before this spike, I took a short position on Bitcoin on the 12 of this month and price started selling from $64k to $62,500. When I took that trade, my target was actually for price to get to $60k but when I saw a reversal pattern forming around that $62,500, I closed the trade and was waiting. I had to re-do my analysis and I saw a double top from the 4 hours chart, that's when I just concluded that price is likely to go take that double top before it will dip ( I said that in one of my post on this board).

So, what am just saying in essence is that, some people follow the predictions they see online blindly without doing analysis on their own or without confirming from different sources. Out of numerous post about Bitcoin price analysis that I saw on Twitter and in some article, non of them actually said that price was going to get to $79,500 but they were all saying price will dip to $40k and so many people believed it and were waiting for price to just get to $40k so that they can buy.

This is why it is always good to accumulate your Bitcoin using DCA strategy instead of waiting for a targeted price before you buy, and again, how do we actually know that this is a bull trap? Because there is no guarantee that price will dip to $40k which is the expectations of most people. If price closes above the $80k resistance zone in this new week, then I don't think we are going down to another bottom.

[Zoomic]

Some people use the "bull trap" idea to create an excuse for not making a decision. When the price of Bitcoin goes up, they say say it's a trap and if drops they say they were right to wait.

From the look of things, there's every possibility that Bitcoin can make corrections from the current price so nobody actually knows what happens next.

The lesson to learn from the recent happening in the market we shouldn't try to predict every move but try stick to a plan.

A short-term trader and a long-term accumulator shouldn't be making decisions based on the same price movement.

[LogitechMouse]

---
These are not people doubting bitcoin but that they where having a target price for Bitcoin to touch down low again before purchasing and they miss a good price to buy as Bitcoin price keep covering heights. Yesterday bitcoin was 77k and immediately these very people are now buying out of FOMO at a higher price and could not wait for the .false breakout to happen.

What is the lesson?

2 words. BE PATIENT.

If you don't want to get FOMOed, be patient because like what I said, whatever goes up, goes down and it's the same with the crypto market. We've seen the pump that happened, so what do you think will happen after that? It will continue to pump again? Sure that might happen, but sellers will step up, and will sell their holdings. Aside from that, there will be more short positions that'll be opening, and that's because many believe that it will go down in the next few days, and that'll happen because we need a correction before it goes up... that if it will go up again of course.

This pump might trap those who got FOMOed just like when Bitcoin when to as high as $97,000 months ago only to see it going down to the lows of $58,000. This is the same, but it will happen in the next few days. What will happen this week will be crucial. Market's opening in the next few hours. There might be a correction that'll happen.