Due to the market season, there are times when we need to be careful about market performance that may present a bull trap. Some may not know it and think it is an ordinary pump that may retain the same position as it rises, but such a trap always follows a massive dump when people might have thought it was bullish the more, the more it rises, shows its actually going bearish before you know. Most traders pay the cost of this because they go into losses, and some even get their assets liquidated if care is not taken, unless they set a stop-loss.
Yes, others might fall into it. But there could be some remedy around, that is not to look at the short term time frame. Instead, go with the more modest DCA method so that it will negate all the emotions that we have.
So for me, we are still in the bear market, although the price goes as high as $80k, it didn't hold that much and so there is some correction going on. Or as others might point it, we are in the consolidation phase so the best approach is to buy. Simple but very effective, so that we won't fall for the bullish trap.
