in the current position, i still doubt where the bulltrap is going or not. If we back to 4 years ago, almost a similar incident occurred sideways and at the end of the year there was a fantastic increase
well that 4 years had already happened now so maybe the trap will occur again this next year as we are near approaching 2022 .
maybe we will count back again for another 3-4 years before another bullish happens .
Buying bitcoin when the price is rising very fast does present a higher risk because the price can fall quickly. this incident is the same as the incident a few days ago when the price of bitcoin dropped from $59 to $54k. many people thought the price would keep going up and they bought bitcoin at $58k, but soon the price dropped to $54k. it could be said that many people were caught in this small scale bull trap.
Yups there are even whales that had just bought recently while the price is at 55k more so meaning they are not hindered with the high price.