BTC Long term Vision! Bulltrap alert!!
Updated
What Makes Bull Traps Happen? Wishful Thinking
Bull traps can emerge after a market downturn appears to have been exhausted. In the wake of steep declines, there’s often clamoring among investors to grab an early seat for the ride back up, get in at what appears to be a bargain price, and/or pick a bottom.
These initial buying spurts may push prices above certain chart levels, and these “breakouts” can trigger more buying. But such breakouts may actually be false signals, and the price soon resumes a downward path.
So, what is a bull trap? A bull trap fools some traders into thinking a market or an individual stock price is done falling and that it’s a good time to buy. But then it turns out it’s not a good time, because the price soon resumes its descent, catching buyers in a money-losing trap. In many ways, it’s the opposite of a “bear trap,” which can fool traders into selling out too soon in the midst of a bull market.
Here, we can go and print 25k..even 30kish..still I'd say it is going to be a bull trap! I also see the overall market conditions and it doesn't seem good.
Do you agree or disagree?! Comment down below!!
Bull traps can emerge after a market downturn appears to have been exhausted. In the wake of steep declines, there’s often clamoring among investors to grab an early seat for the ride back up, get in at what appears to be a bargain price, and/or pick a bottom.
These initial buying spurts may push prices above certain chart levels, and these “breakouts” can trigger more buying. But such breakouts may actually be false signals, and the price soon resumes a downward path.
So, what is a bull trap? A bull trap fools some traders into thinking a market or an individual stock price is done falling and that it’s a good time to buy. But then it turns out it’s not a good time, because the price soon resumes its descent, catching buyers in a money-losing trap. In many ways, it’s the opposite of a “bear trap,” which can fool traders into selling out too soon in the midst of a bull market.
Here, we can go and print 25k..even 30kish..still I'd say it is going to be a bull trap! I also see the overall market conditions and it doesn't seem good.
Do you agree or disagree?! Comment down below!!
Note
Still but very close! Will update
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