Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: CoinCasso on August 11, 2022, 01:47:51 PM
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In a highly volatile cryptocurrency market, it’s vitally important to differentiate between various signals and trends. In such a way, traders can manoeuvre through all the market movements and make a profit.
Today we will be talking about one of such signals – a bull trap. We will discuss what a bull trap is, how to recognize it, and how to save your investments.
What is a bull trap?
https://coincasso.com/blockchain-academy/what-is-a-bull-trap-meaning-in-crypto/ (https://coincasso.com/blockchain-academy/what-is-a-bull-trap-meaning-in-crypto/)
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Great article shared, overall when the market tries to break resistance and gets successful in doing so, newbie traders instantly takes entry thinking that the market will only go up now, but the market takes a U turn instead and starts to fall making people lose money who entered thinking the market is bullish, this type of fake uptrends are usually caused by whales who try to bamboozle new traders.
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Bulltrap is some certain market condition where the market seems to be rising up. But in fact, this is only a litle bit increase before it is falling down only in some hours.
Bulltrap is very dangerous because if we are not ready and only panic, we will be driven with the market and may be eager to hype and fomo