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I saw some talk about $76k being a bull trap. What do you guys think? Is it really a trap?
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Honestly, everything feels like a potential trap if you stare at the price all day. It’s just some normal pullbacks, nothing too wild. We’ll see more ups and downs before the market picks a direction.
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Too many opinions out there can really mess with your mind. I stopped reading all those predictions. Been saying since March that a bullish reversal was coming. Gotta pay attention to the signs.
J Posts: 3 · Reputation: 2072
I’m not convinced Bitcoin is ready for a full bull run yet. Even if it breaks past $76k, I doubt it’ll stay there long.
W Posts: 242 · Reputation: 853
No bull traps here. $76k was retested, and then it dropped to $74k. A real trap would need a breakout above $76k followed by a drop.
At Posts: 38 · Reputation: 201
Nah, it’s not a bull trap. Bitcoin just dipped to $73,935 as I type this. People are taking profits too quickly, causing these dips.
I still believe the bull run won’t start until Bitcoin dips below $60k. We’re seeing some gains, but I think we’ll correct again before really going up.
Th Posts: 42 · Reputation: 31
Could be a trap, especially when everyone’s getting overly optimistic. No fear in the streets now, but wait until the market shifts.
S Posts: 4 · Reputation: 194
If you’re chasing short-term gains, yeah, you might fall for a trap. But with Bitcoin at $74k, it’s not all doom and gloom. It could still rise further.
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#10 Oct 24, 2018, 03:46 PM We’ve seen an uptrend since that dip in February. The latest price action shows some sellers, but it could still bounce back.
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#11 Oct 24, 2018, 06:26 PM I feel like it’s a trap too. Bitcoin isn’t ready for a serious breakout. We need to see it surpass $90k before I believe a trend shift is happening.
M Posts: 78 · Reputation: 20
#12 Oct 24, 2018, 09:49 PM It’s normal for speculation to rise when prices change quickly. Bitcoin has faced resistance multiple times, and this recent jump to $76k is no different.
#13 Oct 25, 2018, 01:51 AM The pattern of Bitcoin rising lately feels like a trap. A dip after hitting $76k isn’t unusual, but I still think it can recover.
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#14 Oct 25, 2018, 03:34 AM Let’s keep an eye on Bitcoin’s movement. After hitting $60k, bouncing back to $76k feels like a resistance zone to me.
K Posts: 9 · Reputation: 17
#15 Oct 26, 2018, 12:58 AM Not sure if it’s a bull trap or just a surge. Bitcoin can jump even in a bear market, but that doesn’t mean we’re in a bull phase.
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#16 Oct 26, 2018, 01:44 AM I see this as a normal pump. Bitcoin’s slowly gaining, but a long-term bull run seems unlikely soon. The market’s not bullish yet.
A Posts: 75 · Reputation: 1540
#17 Oct 26, 2018, 04:24 AM If $76k is a trap, it’s safe as long as we stay above $70k this month. That’s a bullish sign for the short term.
0x Posts: 46 · Reputation: 33
#18 Oct 26, 2018, 10:04 AM There needs to be strong volume to push Bitcoin higher. If volume is low, this could indeed be a trap.
C Posts: 26 · Reputation: 72
#19 Oct 26, 2018, 02:17 PM Looks like a bull trap to me. Some traders jump in without analyzing, only to get burned when prices drop.
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#20 Oct 26, 2018, 07:20 PM This could be a trap since $76k was hit so suddenly. We shouldn’t assume a bull run is starting just yet.