Bitcoin Forum

I wake up this morning and when I tried to refresh my wallet, I findout that bitcoin has lose over $700 from it high of yesterday! Immediately,  "this thought come into my mind, don't be afraid,  it is taking profits time", new confident come into my mind and I developed another hope that bitcoin is far strong now,  better and menture now than in 2017. I will like to encourage us to keep holding and buying more at this time as bitcoin is on the way to the moon! Though, "this is not a recommendations for you to make investments decision"!

fell more than $1000 and knowing the crypto market, this already was something expected. Whenever the price goes up a lot, it also drops a lot.


I do not understand why you had to think like this when these big increases and followed big losses were always normal things in the crypto world.


probably many people who bought when the price was $8000 should be selling with losses because they think that the price would fall a lot and never returned to the $8000. unfortunately in the market always has a winner and a loser, at the end of the day this is the market

It fluctuates. Better get ready with that as always.
If you are a trader it is a good thing but this kind of large falls should be expected.
The hike run have been continous and it is really getting uneasy when you are in the investment side specially when you love to monitor it everyday.

Although, if you are the hodler type it wont be much of a problem for you. Bitcoin will go large, just need to be patient.

I also think who want to take a profit can take now, but i think the gainers will be the long holders because bitcoin should value way more and if will hit a new ATH then a good profit can be made.

It fell 8000 to 6600 quite quickly I saw and there was a reason for this being that 7800 is a support area and was lost.    The 7200 area is the next step where price must decide direction, I have this as the 8 day moving average and once we are below this it will be a more of a bearish phase for the short to medium term.

https://i.imgur.com/9uArf2G.png

I havent yet decided what the objective downside for losing 7200 area would be but roughly about 6600.   The main point about profit taking or trading is to pick the highs and low to rebuy again, right now I think 7200 is the high till it can prove it will stay as an area of support.    Longer term the 200 day average is moving up so we are not really negative at all

I woke up today and I had the same thoughts.
Yesterday, I was thinking if I had to withdraw and cash out some profits or all of them and come back to the market later. I didn't do so and now I think that If I had to I would have made some good profit for this month.

So buy high sell low is your recommendation? gtfo with that bs, this is the worst advice ever. Non whales should be hodling and buying between now and end of 2021. Selling and hoping to buy back cheaper is for gamblers and those who are already rich.
I can't believe you would say such a stupid thing after so many examples of people getting killed doing just that. How do you think the people who dumped at $800s after buying at $1k+ back in 2014 never to reenter feel today? this is just one of countless examples of why history tells us - DON'T DO THAT. I'm 100% confident that even those buying the 2017 top will come out smelling like a rose holding for a few more years.

No need to panic now and we are at better stage compared to the lowest bottom based on that we have good profits even at the current price as well.DOn't be too greedy and also don't be a hit and run trader just aim for the long and high profits.

This is normal in bitcoin why we need to be afraid? Look at the price increase from the beginning of the year compared today. It's a small amount while the price already increase more than 100%.

Bitcoin is too volatile we don't know what exactly will happen in next day or next month so if you already make a profit sell before the opportunity lose or sell some every time the price increases so that if the price drop you can buy bitcoins again at the cheaper price then hold. It is just a simple cycle of how to trade in bitcoin if you are not smart you will always lose the opportunity.

This works until it doesn't. From end of 2015 to end of 2017 this strategy of selling on upticks and buying back cheaper failed way more often than not. We are still a year away from halving so it's much safer to do now than year of halving, but still carries risk of price increasing from buying back with bitcoin gains.
All I'm doing is hoping for sub $5k coins again to buy more and hodling, selling is out of the question. Most traders would probably call me a retard, but this is the safest way to do it when the next halving is only a year away.

That is the courage to stay calm at this moment after you saw the bitcoin price is down deeper while not all people can do what you did.
Yes, we need to hold tight our bitcoin, and if there is a chance for us to buy, then we should buy it at a low price.
But if there are people who want to invest in bitcoin, they need to know that what they need to do is only buy at a low price and then hold it for a while like what we did now.
I am sure they will make a big smile when they see bitcoin price can increase higher later and that is the time for them to take the profit.

Some people think of buying bitcoins like putting money into a retirement account and let the value grow over the years without checking the price often. Others treat it like a gambling device, or a penny stock that has as much chance of going to zero as it has going to $1m. The reason I think the first group is doing the right thing is because of the situation of the world economies and the looming debt crisis that is unsolvable - mostly due to the ability to create fiat out of thin air and stick it on a debt that will never be repaid. It's the hopeless situation surrounding bitcoin that gives me faith in it's future, and this exact situation was the reason for bitcoin being created in the first place.
Bottom line is, what good is making a bunch of fiat from bitcoin trading if the value of fiat is heading to nowhere?

Bitcoin has proven us a lot and I guess that's already a reason enough for us to trust it. They always say that the bigger the risk you are taking, the bigger the profit that you will be gaining so we should be brave to invest. The problem sometimes is our emotions. Bitcoin is volatile and it will always go up and down.

What is surprising about any of this op? Did you forget that BTC was valued at $20K at one point and fell all the way down to the $3K range? Anything can happen in this volatile market. I am expecting the price to recover soon since this looks like a temporary correction.

Man, in the beginning  I was afraid to lose money and I follow market every hour, and it was very stressful
I think every person not used to cryptos is like me in the past

This is completly normal, BTC goes up and then goes down, make your strategy and follow
Only good traders make money selling and buying daily, but this is hard to do, so relax...

 ;D it is obvious you are not telling anybody to dump or buy more, this is speculation board, sure.

But on the same point and speculation, I would hodl longer, we might have seen a correction today, next week might be a good bull.

Thank you for making this observation and explain that this is the speculatives board of this forum.  Inside me I have that believes that bitcoin is going up more in days to come no matter what has happened now.  The more it reset or makes corrections downward the more we should expect the next pump to go above were it fall from.  There was strong support level that seem to hold bitcoin above $7000 currently and that is seeing to be another buying point right now.

People were sweating buckets when the price was between $1 and $32, can you imagine how silly someone panic selling coins in this range feels today?

This is just like a typical day here on crypto where price can crash or decrease on some percentage overnight.You cant blame people
on not to panic yet seeing your investment dropped will really give out that kind of mood or emotion.If you do believe on Bitcoin
you wont really care at all if you are eyeing for long term aspect but for shorters? Its a big deal.

It might, it might not. I have seen people on Reddit feel disappointed that they didn't buy in the $7000 range before it went to $8000 and now that the price has corrected back to $7000 again, they are gone.

People only regret not having bought after the price has gone up. If people believed it was a temporary correction they would have started buying, but they don't seem to do so.

News outlets blame a faulty trade to have resulted in the selloff that we have seen, but I don't believe any of that at all. It was a legit market sale, very likely side-leveraged on BitMEX for extra profits.

Well, I have been awake and witnessed that fell but I didn't do anything. I just watched on how low the rally would be and thank goodness it fell on $7k's. There were people expecting lower than that so I'm still good with that price.

You just mentioned that dont be afraid and take profits but in the end you suggested to hold and buy. Take profita when you are satisfied but dont ever lose your buying and holding position.

The op seems to be misunderstood - he's explaining that whales are taking profits and not be afraid of this dip, not telling people to not be afraid of taking profits.

Keeping your cool during a few drop of crypto prices particularly bitcoins is the sign of maturity in trading. You never panic withdraw for few drop in prices of your coins. Wait for price to bounce back to your profit target.

you should be afraid about prices when pump and dump happend with this marcket, i hope price drop to 4000 per btc soon , Why give something more than its value?

Im even surprised when the price dropped down suddenly while im not on my PC or even watching on my smartphone.
I did miss to sell since im doing active trades but i do miss out that time because BTC is already on overbought zone if
we do base on technicals.

To buy bitcoin, of course enough funds are needed because obviously the price is quite high, if you really see the current movement of bitcoin shows an increasing direction, and indeed it takes courage to buy and make investments.
also clearly need adequate funding support not just courage. predictions that bitcoin will continue to increase will be the same as in 2017.

   Being confident by acknowledging the huge consequences will conquer the possible outcome into a reliable one. When we spend time and money to gain huge profits, make sure that there is an assurance in return to earn and to evade from loses, because taking the risk is difficult to determine, but we have to stay strong and be positive for every conclusions.

We should realize that, when prices rise very high in a few days, then stop rising, it is a signal that prices will soon fall. because of the correction or many people sell at that price. But I think the price falls only a few percent, Yeah $1000 it's quite a lot, but I don't think the price will go back to $5k anymore. So don't be afraid, the price will definitely go up again.

If you really analyse the price pump and dump you did not say that because the price fluctuation is possible on suddenly and it will going to dump at 500 USD so some big investor is sell the huge Bitcoin and it will not affect the future market so again it will going moon. This year surely Bitcoin raise again and we are all see the positive pump in recent market and future also continue in crypto market.

Bitcoin still on the correction but this day, we see that the price was trying to increase back. I guess that tomorrow will be the new day for bitcoin to increase again and I hope that we will see the new price of bitcoin at the high price and I am sure that bitcoin will pass $8k. But unfortunately, we are still at $7335, and we need to be patient until the price starts to increase.

you mean $4000 is the bitcoin value ?  I did not not agree with that views and I see bitcoin at the current price of $7350 as been undervalued to me. I will be happy to see bitcoin above $50, 000 not becouse I wanted to sell at that price but because that is the relatively price that we can said "that is bitcoin value"!

We can't say for certain what's the real value of bitcoin. It's based on supply and demand and obviously, the price will continue to change no matter what.

Of course we are all speculation and wanted to see the price goes on another mooning or at least hit another all-time-high so that we can take out profits and then wait for the right time to re-invest again.

Yeah if you see the recent graph of Bitcoins, then you gonna feel happy that Bitcoin was increasing.
But compare to last 24 hours,  the price suddenly went down.
As far the OP has suggested, i am completely agree with him.
Whenever we are taking profits, we don't have any problems, but when the price went down, all starts complaining.
I would rather say the price was affected because of the trade volume.
Nevertheless, i would wish Bitcoin should increase more.

Your thoughts are correct and right, you don't need takun when someone takes action when doing something, like investing in bitcoin.
If you see it now, the price of bitcoin is what you expected, it will definitely make you smile and eliminate it, to your anxiety.

I don't think and hope it will decline too much, most of the chances are that some holders whose tired of holding sells at this week pump and didn't mind the more good news that are about to happen soon in BAKKT.

I still think bitcoin is still able to increase, and because of that I still hold it with the aim of selling at a higher price, still thinking positively that bitcoin will soon reach 10k.

What you are talking about is Bitcoin being undervalued compared to its long term price potential, but that's the wrong way to look at it because today's price is the only metric that matters.

Another thing is that using the term undervalued in Bitcoin is quite a subjective ballpark guess because aside from the base cost of mining, there is no way to determine Bitcoin's "fair" or "real" value.

The best possible value metric in my book is what people want to pay for a coin today, and as you know, it can pump tomorrow and tank the day after, so the value is subject to change every single day.

If you truly believe that Bitcoin is currently undervalued, then buy as many coins as possible asap and sit on them.

Profit taking when there is gain is just a normal thing and we cant really stop people on not to sell since we do have our own set sell orders without minding
too much on upcoming Bullish or adoption news which would make more the price increase if its passed but somehow we can utilize this volatility to reap up profits.

The correction is rather low considering how the price pumped in the past few weeks. This is expected and is just normal price movement for bitcoin. The support is strong in 7000 so I am also encouraged to buy more at this level.

Maybe it's taking some breath for another pump? If the correction has really finished, it's more good news for bitcoin investors. As the price rised so fast, I thought there would be a deeper correction, if that isn't really the case, bitcoin can overcome the expectations for this year of 2019.
And I think it's possible, considering all the new adopters btc enchanted through Flexa - third party payment service (which brought whole foods, major retailers shops to crypto); and Fidelity - Funds management firm.

There is a whole different way of looking at last rally, it could simply be a major correction for the massive drop, BTC entered a bear market and lasted for about a year and half, it lost about 85% of it's value from ATH, recovering 30% from the 85% drop can very likely be a major correction of the overall bear market, or of cource it could be the beginning of the rally, you can't ignore either one.

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OP ,one should always look at every possibility out there, you said  "I tried to refresh my wallet" which indicates you are not a day trader, so you should look at the market from a different perspective, as hodler you should always buy every dip and wait to sell for a price that is higher than the last known ATH , while for a trader it makes sense to sell even at 4k for to re-buy at 3.8k for an instance.

I sold at 5.6-6k aread and got stopped on all of my short positions, entered long after that and took profit at 6.8k , bought again at 7k and sold at 7.5k , bought again at 7.6.k and sold for a loss at 7.4k.

Moral of story, if you are a day trader , you should ALWAYS take profits, big or small, does not matter, and you should always exit with a loss if the market goes against your prediction, if however you don't day trade, then simply stop watching the charts/your wallet and come back after 2-3 years.

''can very likely be a major correction of the overall bear market'' Overall bear market by what standards? Overall it's a bull market and it has always been, Bitcoin has been bullish since the beginning and the 1 year chart has always shown this, so no, it's not a ''correction''. You don't switch from downtrends on all timeframes to uptrends in all but the monthly chart and it's getting there as well.

@Whaleagent


1- learn how use the forum, qouting a whole post like that is annoying.

2- go open the charts

You don't take profits by selling Bitcoin. You are taking your profits by buying Bitcoin.

Every dip is a chance to take profits by selling your dollars or other fiat currencies. Every time you invest your bitcoins by using them to buy dollars, you are risking them.

That of course is assuming any intelligent person would rather hold Bitcoin than mere fiat currencies.

at some point you need to spend that BTC , let's face it, most people want to buy BTC for cheap to sell it for more fiat and that's all about it, in fact it's safe to assume that more than 90% of bitcoin investors think alike, buy low - sell high to make fiat. BTC is being treated like a cow that everybody wants to milk, those who are in for the long run and believe in the technology are very rare.

I do believe in it as a tool for the future how exactly everything Will work out is still a question, in the mean time its normal people buying and selling making and losing FIAT, but @ the same time many of those using people also start to use BTC for transaction between them self and other BTC users, more of more people Will use it directly as money as well..... I know I do.

Of-course BTC is very young and just started with the amazing idea that it is..... slowely more and more Will get it and use it.... older people with 0-interest Will make place for younger on this earth and the younger are more interested in tech and sh*t.

I think as early HODLers we Will need to HODL on 50% of our stashes minimum for the real long term!
No greed for FIAT when not needed.

Totally agree, i personally have a cold wallet for hodling only, i don't intend to touch for years to come, at the same time i know i will only live for x amount of time before i won't be able to make use of neither fiat nor btc, this exact reason is why i trade btc for fiat when the chance presents itself.

Take it easy because the increase and decrease will always occur, look at the price of bitcoin at this time, it proves the price is increasing so now in my opinion that the price movement of bitcoin is in a good phase and we must be able to use it. a small decline in prices will not be a problem because the opportunity for development towards a much higher price is still very open. bitcoin is the future so don't ever hesitate to invest in bitcoin to give us a bright future !!

If this is not a recommendation for one to make an investment decision then why do you have to make recommendation for people to keep holding if you are sure if what you are advising people.

Since some of make use fait currency as compared to crypto currency I believe my own interpretation of one taking profit will be contrary to your submission above.
Take for example, if I earn 0.03btc from participating in a signature campaign or bounty campaign and is equivalent of let say $300 and I hold for two weeks, and the dollar of the said Bitcoin increase to $400 and sell the $100 on top have I to take profit? Although, the quantity of my Bitcoin has reduced but still the same dollar value of $300.

To continue to buy Bitcoin now is only for those investors who have real long-term plans and are willing to wait at least another half a year, or even more. For those who want to get short-term profit in a short time it is better to wait - maybe they will. the opportunity to buy bitcoin is much cheaper in a couple of months.

Right. Though I cashed out some before the huge dump, I still have a bitcoin balance in my wallet. Keep hodling is the best way and the safest move right now. We can get back what we lose and will still recover from this stage. This is crypto world anyway, we may be lose but will still gain some profits when we patiently hold.

What happened to bitcoin recently is not a strange thing to me as I expected it to happen exactly the way it did, so I am not afraid of the event because I am sure that bitcoin will recover again, that is why I don’t listen to much of people’s opinion, we all have our investment decision to make and it is better we are responsible for the outcome of our decision rather than making another person responsible for it.

I have made my decision to be a long term holder, and no matter the dip or increase I see now, it won’t really move me to taking any action until the bull run gets to its peak which should be the time we will see this new ATH.

A good advice but not good for risk taker and you should know that only the risk taker make better life in future. speculators and fearful mind has warn us in early 2017, when the last strong bullish trend we witnessed happen that bitcoin is not going to grow above $1000 and it is going to dump back to somewhere around $300 but the opposite really happened and those that has the mind of buying then and hold  till end of that year really make profits that up till now they are still enjoying the great wealth they have made. Likewise, if you can take the risk of buying now and by the end of this year bitcoin grow to somewhere around $50,000 you will be in a good profits.

1. I don't need to, the quote is fine like that

2. Which time frames have you checked exactly? Bitcoin is in an uptrend on the daily chart, weekly chart and yearly chart. The monthly chart is almost there too, agan, by what standards are you calling it an ''overall'' bearish market?

Also the volume is much higher now than ever.

Quoting a 10 lines long post is stupid and annoying , i am trying to teach you on how to improve your posting style , if you refuse to learn, you will always remain a newbie, it is up to you  ::)

For a market to be called "bull" it must make both higher highs and higher lows, the 8.5k high must be closed above , retested and not closing below, at this point btc is making higher lows and lower highs, it is more or less in a side ways market now, just because it rallied over 100% it does not mean it is officially in a bull market.

The better the market conditions and holding will be a way to get a bigger profit, with crypto being volatile then the possibility of a decline will be there but also likely to rise again.

Again, which timeframe are you talking about? The daily chart has been higher highs and lows for over 1 month. The past 12 weeks all closed with a higher low and most with a higher high as well. I don't know at what chart you are looking at but it's not the same as mine. My charts show a strong bullish uptrend.

Here this chart is bearish short term I think.    The blue line is 2 day average which we have consistently failed to break away from, showing a capped range.

Then the yellow line is the 8 day average price which has been some support but failed, possibly the 2 day showing it would fail to hold this eventually.

https://i.imgur.com/uZLTZD2.png

Looks like attempts to break up from this range have failed so far and a further breakdown from this range could be on the books, though it seems we've bounced a bit from around $7500 on Bitstamp and the fall's stopped for the moment. Hard to tell what's going to happen next at the moment, though I would say there's a chance we could eventually return back to $8K and perhaps break through again as well. Added a bit to my own long in the $7600s, will see how this plays out.

Were on the downside again looking at the chart BTC really fails to hold on the support level, and maybe we will see another bear but hopefully not. Yes, don’t be afraid to take profit its your chance to get a profit so don’t lose it. No one can say that the market can recover after this.

Your so positive even though you hava little lose to your investment still you encourage the people that this thing is normal and we don't need so panic but still buy more because bull run still is starting. Dump/dropped is normal in crypto market we all know that. So I think being being positive is give more confidence. We don't need to stress ourselves because we loose a little bit profit, we can get a good profit again because new ATH will be coming.

I feel the same also, it is not the reason why we should quit in crypto investment because of this shortage, it is not the end of crypto and there will be another time which is most favorable to us. If we are a negative person, will surely making us a way to walk out and leave crypto forever, but luckily we are not like that.

Yes, none is that expertise to assure with a market recovery and with the ongoing growth pattern we can predict about the market recovery to take place within few days time. Some suggested to move towards BNB for the time being, but that's not a fair decision in my view as compared to making an investment into bitcoin.

We all look at the same chart, but from different perspective.


https://i.imgur.com/UNcMn8m.png


The 8.5k was the last high we made a year ago (july 2018) for this trend to be bullish it has to close above it , make a new high and not close below it, for all we know this could play out as a double top and head back down to make a new lower low. it is unlikely but the possibility is still there, i am not sure how are you viewing this as a confirmed change of market direction, but i would like to see a TA from you.

In a short span of time this small downtrend will be change o another good pumped, it's up to the traders / investors capabilities to sort things out
and still being optimistic and have a positive view inside their investment, think for the betterment of your assets and keep moving forward.

@mikeywith:

what do you think about masterluc's projection laid out here: https://bitcointalk.org/index.php?topic=274613.msg51025897#msg51025897

you think momentum is strong enough for $15k from here? that's nearly another doubling. so you think we'll break right through $10k---another significant pivot high in 2018?

were you around during the late 2015 rally? i'm beginning to sense that same sentiment from back then, when we were gliding through the $400s. nobody expected $500 to be the stopping point of that rally.

Taking profit is absolutely common thing and when you think you hit your target then you can cash out to enjoy the result, holding or buying bitcoin for now is for long term, because the price already a bit high so it might be risky to try to make profit from the dip

No meyt its not a common thing because the price of cryptos dont oftenly increase and pump . Whats common for crypto users is that they only hodl   .

Cashing out quickly and cashing out all what you got isnt really a good idea because what if the price continues to increase more ?  If you can earn more ,  you can also enjoy more   

Bitcoin is for both long and short term . Only skilled users can possibly profit from the dip , so if your not one of them , its better if youl wait for a while  .

People need to gather up some fiat in order to buy even more later on, right now there are enough buyers to ensure as soon as sells stop the price keeps going back on the resistance levels. Which means if you sell right now and not during the support line you are actually helping us, if you sell during the support line you are making us go low but if you sell now and buy during the support lines you are making those lines even stronger.

If you sell now and not buy during support and wait until resistance and then buy there you are actually increasing the price a lot more than the rest because breaking the resistance is the important thing. That's why taking profits at the right place but buying at the right price is quite important and should be done.

Until now, the price range of bitcoin has often touched prices around $ 7000, this was due to continued market price corrections. but it is possible that in the coming days market price movements will again touch $ 8000, even if there is a subsequent pump, it is very likely that market prices will continue to increase.

How was 8.5k the last high? LOL. That's the last high in the monthly chart, not the daily chart, why would that be the last high in the daily chart when bitcoin has consitently closed a ton of consecutive days with higher highs and higher lows? What kind of TA are you using mate?

Yes, we are still at $7000, but now, it seems the price wants to get high because I see the green candle came in this day. So we can hope that tomorrow, the price will break $7,900-$8,000 like before. But still the situations cannot be predicted, and we could see another down of the price again if the market rebounds to the lower price. But for a long-term, I still believe that bitcoin will increase higher and the price will touch more than $10,000.

Many of us here has started understanding how this market work and traders or investors must take profits. Many newbies especially those that has not spent time in cryptocurrencies market are panic when bitcoin is building a channels for correction before resuming its uptrend and to us that has experienced on this market we see this as a normal thing and expected thing to happen to the market at that particular time. The next push may create another high for this year 2019 and that may keep bitcoin above $8500 for some time.

But sometimes you have feel the profit from your investment. Don't continue to buy because you can add your capital with the strategy, I mean when you bought bitcoin at the lower price and its price increasing then you can sell it at that time. After that, you may know the price bitcoin never increased continuously because it will find a correction. Then, when the correction came that is time for you to buy again at the lower price so as your bitcoin will add because you has got profit from the selling before the correction came. Do these thing as long as you can, maybe it will help you to spend money to buy bitcoin.

Take profits by shorting BTC instead.  You could end up with more Bitcoin wich means more dollars in future, with this way you never lose dollar value if you are correct on market movement. Close short position and open long position when you think that Bitcoin could go up.
If you are not sure what are you doing, then dollar cost averaging isn't bad idea for you, or just hold Bitcoin and come back after 2 to 3 years to take profits with method above. Good luck my dear friend.

Its always been said that those who hurry often lose. There's not much to profit from the price difference bitcoin made lately. If holders are not in a hurry and don't need money that much, better leave their bitcoin secure for now in their wallet and wait patiently for a real bull run in the market. The problem others experience sometimes is they need the money and they can't that long any more but if they've regarded their holdings as real investment they will not touch it until maturity time comes.

I was consider those dropped are more likely just an another corrections price and look at the price in these few days seems it was recovering so don't have to worried about that because until today the price still strong at range $7000 above and i think small corrections is usual in the bitcoin price movement and all we have to do is don't have to panic

Maybe not for you, but for enough traders it is profitable. Every minor price movement can be a worthwhile scalp with leverage. How do you think a boring asset such as gold is being traded? Leverage is key.

Why do you assume that people speculate with their entire coin stash? In most cases people's speculative coin stash accounts for less than 10% of their total long term hodl stash.

As for the 'real' bull run you're talking about, it can't get much more real than going from $4000 to $8500 in a short period of time. Your 'real' bull run definition is probably based on a 500-1000% increase.

In case of Bitcoin,  i would say that don't be panic at all.
If you see the recent growth graph then Bitcoin has already increased a lot.
But the things that is concerned is that, compared to last 3 days the price is falling down.
So now it is not the time to panic.
The only thing is to do is to prey so that Bitcoin keeps on increasing.

Your recommendation is good and courage-able for us. But now bull has started on the ride, day by day bitcoin price is going to up and i think it is giving us courage and confidence, but still it is not selling price, we should wait for more time, at least bitcoin will be double like $20000.

In bitcoin there are no 'minor' movements, minor movements are 2-3% which is considered huge in stocks. Even with a 1000$ investment, a 2-3% gain is still 20-30$ in one trade. That's huge, this market is definitely the best for small investors if you know what you are doing.

Yes, sentiment has clearly switched, trends too, only the monthly trend left, all the others are already in a confirmed uptrend.

To take advantage of crypto must be able to eliminate fear, and for this year crypto conditions are recovering, and that could be an opportunity to take advantage.

If you haven't made money trading Bitcoin the past few weeks, then hang up your hat because trading isn't for you. ;) This volatility has been a godsend for my bank account (and my Bitcoin wallets).

Would you rather be in the $3,000s doing another 3 months of sideways? I didn't think so.

The consolidation we had for the past a few days might very well give the strength needed to rally up to 10k  , however I don't tend to agree with the correction all the way to 6k from there.

however, just for observation, I have been watching the ichimoku cloud since 3100$  > https://bitcointalk.org/index.php?topic=5087271.0 , and the projection you quoted matches with it.

https://i.imgur.com/xE0nlwf.png

if you look at the chart, you will notice that the bottom was market as soon as the cloud appeared , and the first time the price enters the cloud , it heads to the top then drop near bottom , happened twice , in 2012-2013 and 2014-2015 - and then price collapses to a bit pass the middle of the cloud which was about 40% in 2015 and from 10k , 40% will put it us back at around 6k, it's too much to be honest, but i am not ignoring the possibility at all.

anyhow as we speak there is a  very nice triangle forming up, a break out either direction might fire up some fast movement.

https://i.imgur.com/Lx3yjtw.png

Bitcoin tends to surprise us in both directions, always going further than expected. 40% is near the limit in a bull market context, but we've seen it several times in the chart's history. If we see a significant reversal off the $10K area, the $6K zone is where I'd bet on.

For now I'm not going to speculate because we could blow right through $10K. :-X

As always indeed  ::), that is one reason why i am not much into predicting an absolute price or time when trading btc, i prefer to look at it as it develops, just like i did at 5.8-6k , i was shorting it, got stopped,  opened long positions despite the fact that i "THOUGHT" we were going down, thinking where the price might go, and following the actual price are two different things.

what we have now is a large triangle  that i am looking to trade, a close above 8.4k is a go for 9.8k , a close below 7600 is probably a straight fall to 6.8k , these are the only numbers i am looking at, and i know very well that we could  be stuck in a sideways market for a month or so after the next move.

Prices fall because many people taking profits, so make prices fall. if you are a trader then you should don't miss that opportunity yesterday. You have to know that such a thing will occur, when the price rises quickly, it is only a matter of time until a correction occurs, and you must be smart in seeing opportunities and making decisions

Some traders do, especially the whales, they always take advantage when there is a big pump and dump, either way, they are benefiting on it.
They will cash out because they can enjoy their profit even at 5% due to their huge capital but we ordinary trader, we should hold longer as any price fall when the market is bullish, is just a temporary thing, price will again rise and continue its bullish trend.

I was lucky for a while, when it hit the first 8 thousand I said that is about enough and cashed out and actually wanted to do something with my money.

It could have been something that would erase it forever like a big vacation but I already planned my vacation (even though its small and not that good but its somewhere at least) or I could have purchased some sort of fiat investment, not like a house or a shop because they cost a lot but maybe something closer, it could have been even for a partnership with an existing business by buying some shares of that company.

However, as soon as I sold it started to drop and I felt amazingly lucky that I sold, when it hit the recent bottom I said I am not going to decide on what I am going to spend this on just yet so I might as well just keep it on bitcoin until I decide and bought back. That wasn't because I am some sort of clever trader or I checked the charts or anything, I was just purely lucky on my timing :D.

From $14K to $4K real quick last the drop of 2018, the amount of the recent pricefall is just minimal. If you experienced the last moon, you will get used to it and be thankful it goes a lot better than before. Dont mind the little volatility it will do for it will land on moon the sooner.

Yep to both.  But there are a lot of newbies coming in to the crypto world right now, likely because of the recent price increase--just like from 2009-2014, and 2017.  So there are going to be members of this forum who aren't quite accustomed to bitcoin's notorious volatility, and boy will they learn that in a hurry.

Pullbacks/corrections are normal and are healthy for the market, not just bitcoin but any market.  You can't have the price of something just keep increasing exponentially (or even linearly) without dips.  It just doesn't happen.  Traders do periodically sell and take their profits, and that causes the dips.  To those who haven't been around bitcoin that long:  be patient and don't freak out when the price drops $1000 (or pick a number) in one day.  It's happened many times before and those events will happen many times again in the future.

Crypto beliefs are things that investors must have to invest.
and don't let negative thoughts penetrate your emotions to make the wrong decision, obviously there are always those who win and lose every choice we take.

It's always been tested and proven that taking profits after trading is a safer way to benefit from your investments. Furthermore, when good market comes back you can buy back some coins to reinvest before price surges starts to commence back. Expecting bullish trend is good, but my advice every now and then just focus to the goals you have because profit will soon follows.

Do not worry, that is due to the slight volatility, if you take into account that we are in the accumulation phase you should not worry, he will rise, although we are not in a bullish trend because the accumulation stage ends at the time it ends. the offer in the price levels that are for now, or that the millionaire wallets reach an acceptable percentage of 70-80% of accumulated bitcoins, this is fulfilled so that bitcoin can rise as it did in 2017.

So if your wallet you ceunta that low a little price do not worry, ahroita is very difficult for the price to go down a lot, have entered many investors, it is possible that they fall in certain lateralizations and then can go up.
Do not be surprised if you suddenly wake up and get your wallet with +15 or +20% ...

Accumulation before the halving, be aware that price will skyrocket in some point, just I don`t expect that too happen in this year, or next one. 2021 or 2022 will be the year of big rise, everything before that will be like its now, price is going up slowly, price drop a bit, and like that. Fluctuations that most of us love, cherish and earn from, so use this fluctuations to earn a bit more bitcoins before price start to go high fast.

From the point of view  its normal to see Bitcoin or other altcoin a pump pump and dump since its price movement is so valatility that cause unpredicted movement but nithing to worry fron this kind of situation if you are really a trader you will understand that taking profit is a right decision even if you earn a small or big profit.

This is something the average investor or trader never get, in order to make money out of the markets we need the volatility, we need the markets making movements on one direction or the other but sideways action is terrible for investors and traders, any decent trader must have some profits after the huge movement we saw in the market otherwise it will be better for them to rethink their strategy and to not comeback until they have improve it.

That is the common perceptions of some investors and traders, they will just turning back into crypto once they saw huge pump but easily dump their coins once it drops. They don't have strong appreciation with the market and only they are just thinking of their own but not as the whole community.

That was a whole year drop so its not that quick. You don’t have to be afraid selling your bitcoin i see this one as a good strategy to keep safe your profit, we can hold more for now but if you earn profit now and want to secure it you can do that. Hodlers are used to be on that situation every time it drops, they should know what to do.

When we started invest in bitcoin we already know that the price is not steady, so if you see that there are a changes on its price dont afraid of it. But if you sure you will earn profit maybe thats the time to sell, but it continue to increase just wait and hold it.

Here's what I gotta do, I'll keep on holding until such time the price is right. My definition of right price is that the price reach a peak price for a particular time. Take advantage of every peak price. Sell when you can profit. We know that the price goes up and down. So when the price is decreasing, buy some and if the price is increasing, sell some.

That is just the common strategy that's been used in most traders and it is a little bit risky if they plan the long-term investment but if it's riskier if they do short-term since the volatility of the market is quite strong. Though OP is right that it takes courage to take a profit in this kind of job.

It depends on your own mind game. For me, it is just a small pullback because bitcoin can't just grow and increase as it wants. There will be people who will think that it is time to dump their bitcoins, or like you said they are taking their profit. I've been in btctalk for more than 2 years and I'm certain that it is enough for me to stay no matter what happens.

If we look at a yearly chart of Bitcoin, we can see that this is just a little correction.  2019 had been an uptrend for Bitcoin and it is normal for people to cash out whenever they feel it is time to take profit so we do not need to worry about this because as they take profit new entry of investors is coming in.

I already did this before.
I sell some amount of bitcoin at one price, but then in the next 10 minutes, the price increased $200, and I only say Geez, I should wait for a while to get more money hahaha.
But nevermind, I can accept that because I still take my profit in the increasing of the price.

I still do not believe in taking profits because I do not use bitcoin for profiting. The whole idea of bitcoin wasn't to buy and then sell, it was about earning and spending just like regular currency, if you are not a forex trader in real life you do not buy and sell dollar to make more money, you earn dollars by working and you spend them to live. I support that type of approach to bitcoin all the time.

With that being said I sold almost all my coins during 2017 and started earning it back by working so I know that sometimes its too stupid to keep your coins and we are not at that stage yet, I would suggest waiting until over 20 thousand dollars to sell because this is not enough profit to get out, even if you have a bit of profit its just too small to worth the wait and I would suggest at least 15k+ to sell so you can have a proper profit.