Do The Recent Bizzare BTC Crashes Offer An Opportunity For Bulls And New Buyers To Accumulate?

The market has struggled for the last couple of days. The market's notorious volatility has been back and as a result, billions have been wiped out. For bulls and new buyers, the bizarre drop has offered a buying opportunity to buy low and sell later, high. An opportunity to take a lower position is key for any BTC bull to take advantage and maximize profits. It, however, depends on how fast and how high the rally goes. For some, there is still some fear that the bloodbath is not over and the market is not quite ready to surge.

Already, the market has made a reversal and turned positive. Bitcoin has turned around a drop of under $6,800 to climb above $7,200 in less than 24 hours.

Like the last two years, the last two months of the year, have proven eventful. This time there has however been a great struggle. Back in 2017, the bulls were winning and there was no struggle from the bears. In 2018, the bears were in charge and the bulls were nowhere to be seen. This time, there is a real tussle between the two.

Fake BTC Breakout Or Return Of Bullish Trend?

One of the highest risks for Bizzare BTC Crashes right now is the recent reversal being a fake breakout otherwise called a bull trap. A bull trap is when a declining trend seems to reverse and an asset looks like it has turned bearish. However, this is followed by further declines that break below previous supports. In Bitcoin's case, the recent climb above $7,200 could be a bull trap that later sees the asset drop below the recent $6,800 support.

Because of this, crypto watchers and investors will be keen on Bitcoin's movement. A key position for the digital asset is $7,500 which could confirm the reversal. A surge above this position could boost the asset to a long term bullish outlook. But if it fails, the bears could take back control and pull back prices to $6,800 and possibly below this.

So far, current lows continue to be great buying positions. With Bitcoin having set a year high of $13,000, it has a long way to go and many who buy now will have a huge payday if the asset returns to those highs.