Be careful BTC has a bear trap even though BTC has entered a trend up

[ayatoslaw]

I have no intention of doing FOMO,
but I want to share my little analysis of BTC,



if we look at the position of the BTCUSD chart on TF 1D, BTC has made a lot of support and has also experienced a golden cross, and this indicates that the trend of BTC has begun,
but I'm still careful because a bear trap will usually occur before BTC continues its Trend up,
what do you think about this?

I'm sure everyone has their own opinions,
but I just want to share my little analysis and hope to have a small discussion in the comments column,

[dragononcrypto]

I feel the same... though I think the reliable support is between $4,200-$4,400 as opposed to $4,800.  However if we go further (RSI) oversold to $5.5-6K then I can see how $4.8K could act as support in the near future, if the moving averages have enough time to catch up, baring in mind the 20 Day MA hasn't moved above $4.4K yet. But overall I find this scenario unlikely personally, the RSI is the most oversold it has been (still) since December 2017...

Bare in mind a long-term bull-cross (50 and 100 Day MA bullish cross) indicates a long-term trend change, it has no relationship to the short-term price (for this you need shorter MAs or alternative time frames). For example the price could drop for for months down to $4K and the bullish cross would still be valid in the long-term context. It's also usual for price to test the MA supports in the short-term after a long-term trend change, as it did in 2015 too.

[Bit]

Yes, it should be a warning for us. We must be careful of the bearish trap even if Bitcoin is increasing now. But I see the increase quite constant and looks good. However, because there is no guarantee in crypto world, we must be careful. Positive trend or bad trend can happen suddenly, so we must be aware of and prepare our selves.

[juv3ntus1]

Total agree after a nice run going to 4000$ to 5200, a corrections is inevitable,people are taking profit.I believe when the price will be  6500 the we can say the bull market start.

[Black ID]

The increase of Bitcoin recently is very surprising. In only a few days, it has a big increase but now it is lowering again. Actually, I know that Bitcoin is still progressing, however, once more, be careful and never follow the fomo as you like.

[MVT$]

Total agree after a nice run going to 4000$ to 5200, a corrections is inevitable,people are taking profit.I believe when the price will be  6500 the we can say the bull market start.

Why $6,500?

[Bobcrypto]

It been very obvious that Btc has failed so many analysis with various charts so far used in recent years and i think this will be the same wrong analysis charts indication of prices.
It is extremely difficult to get the any analysis or call it predictions of Bitc, i just think that we should be looking foward for a total bull run the end of this year.

[Bolasodok86]

indeed it is true that we must always be careful in bitcoin trading and when prices rise will suddenly experience price declines.

[MUGNIA]

Total agree after a nice run going to 4000$ to 5200, a corrections is inevitable,people are taking profit.I believe when the price will be  6500 the we can say the bull market start.

is it not too high at 6500 $ it can be said that the bitcoin market is starting to rise?  I think 6000 $ is enough to say the market is starting to rise for bitcoin

[damsix]

Actually I don't understand by describing the words for trading and I understand better by working alone without looking at the graph.
It only takes a few tricks to make a profit, and I don't understand what Golden Cross or Silver Cross is. LOL



Salaam Youtuber Indonesia

[vegasus]

So far, Bitcoin has experienced a surprising graphic on the market. The volatility is clear enough from day to day.
At this time, the increasing price of BTC is seen clearly and we can read a little bit the graphic of the market analysis. The trending of Bitcoin to up is still increasing, I believe that this coin can reach a higher price again week per week.

[Akash]

It ought to be a notice for us. We should be cautious about the bearish snare regardless of whether Bitcoin is expanding now. In any case, I see the expansion very consistent and looks great. Notwithstanding, in light of the fact that there is no assurance in crypto world, we should be cautious.

[IyemRoker]

but I want to share my little analysis of BTC,

That is your judgment and it also will not give effect to other Bitcoin traders.
I also only see the graph is just normal writing because the usual Bitcoin effect that is felt is when there are so many Bitcoin transactions in 1 wallet.

[cybersoft]

This is a mere market correction which was caused by some negative FUDs, BitFinex, and Tether (USDT) drama. if not because of that I think the bitcoin price would've surpassed $6000 by now.

[Jayde]

This trap seems to be very big and can occurring in a long range of price, this down could make Bitcoin drop even deeper but it’s also showing strong support at $5,100 line, so this line should be a safe place for us