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Beware of a bull-trap

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by COINS NEWS 209 Views

In truth, I'm not sure if a rise followed by further dipping right now would actually be considered a bull trap - but a couple of things put me on edge and I want to make sure none of you guys get caught out.

In the sea of FUD and red happening at the moment there has been a glimmer of hope over the past hours with some green charts and everyone's favourite reality-detached billionaire making a couple of positive comments on crypto. One being personal (the holding of ETH) and the other being business (Articles popping up saying Tesla will likely accept Bitcoin again... duh??). There's some genuine good news out there like the SEC getting put in their place, so maybe this is just me being cynical - but it feels too good to be true that we rise like a phoenix with the flip of a switch.

Like it or not there's been plenty of talk on here about The Composite Man and if I were him - a couple of nice news nuggets might be just enough to get retail to pile their money back in with the hopes of a reversal. Like I said, this entire thing could just be me being super cynical and maybe we have taken the first steps of a new uptrend. I just wanted to put my perspective out there for anyone getting a little too excited at some green.

Happy trading and good gains to you all.

submitted by /u/meowdance
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