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What Is a Bull Trap?
A Bull Trap is a market deception condition where the price movement of an asset appears to be about to break out of a strong resistance level upward (bullish style).
This price action convinces many traders (especially retail buyers) that a strong upward trend will soon begin. They then collectively open "Buy" (Long) positions. However, this increase is false.
Soon after the bulls are trapped, the price suddenly reverses direction very quickly and sharply downward.