Bitcoin Forum

Bitcoin is currently at about $8,500. I just placed sell orders at: $11,000, $13,000, and $16,000.

For some reason, I am waiting for a super-long upper shadow. Any thoughts? Any probability?

Probability= Most likely
Shorting? = Then that's too far as a target

Better have a look or eyeing on 9k-9.5k price range if you are aiming for short term profits.Even
scalping out on this moment is worth to try.

I just put in another order to sell at $19,000.

Bitcoin is already in an uptrend so I figure, why not? You never know if somebody buys billions of dollars worth of Bitcoin overnight while we are sleeping, the price could surge upwards...

Ask yourself a month ago Do you think we will reach this level ?, If that is true, $ 16,000 may be the next high range  :P.
From my point of view, the $ 8000 level is a high level and we can only break that barrier through a lot of positive news. I do not know the reason for the past highs but logic says. so, if you want to gamble start gambling.
Again the price does not recognize logical.

That's a good price to take profit and I think you don't need to wait for more years because it can happen this year and most of the prediction with bitcoin this year is good. As we enter in the last month of 2nd quarter I think we are going to grow unexpectedly. My selling point is beyond $20k, It might take long time before it can hit again but I'm confident with bitcoin so I know its worth to wait.

I will wait to see that because the market in the last 2 months has always had very good price increases and June may decide the market trend this year. In my opinion, selling at $13,000 is absolutely acceptable because surely after a up price then Bitcoin will have a big adjustment and will continue to rise even higher if there is participation of big financial fund. Anyway now we are just predictors and the crypto market always has a lot of surprises happening

that's really an ambitious number. You should not set orders too high. Because the crypto market always has volatile fluctuations and you should take advantage of it to sell the best prices.
For example, the price of BTC has just risen to $ 9k and then only 30 minutes its price has dropped to $ 8k3. if we set the selling price at $ 9k and buy it at $ 8k3, and then redo that cycle. we will be rich soon :D

Think about how unrealistic this is. What are the chances that you actually call the exact top and the exact bottom of $9,000 and $8,300? It might just be easy for you to see the top and bottom simply because it already has happened.

You must be trading a lot of BTC that a movement from 8K to 9K will make you rich very soon. It will probably move within that range for a few more weeks ad I won't be surprised if it goes pass $9K and established itself there before the month ends.

I have different speculation than you. I just consider the next big factor like halving, it's not a problem when you have put sell orders at that rate but did you even consider the halving of bitcoin. maybe sell some of your amounts will much better to anticipate the impact that caused by halving of bitcoin. I have seen some patterns from the halving time of bitcoin and it looks like that the bullish will always come after a new bottom in the new period.

You got to have to wait for a long time before your orders being filled as resistance on the $9k is not broken yet. Just leave it as is and come back at year end.

It won't be any surprise to us if the market will show some spike after today, we even don't know what next and we all just into speculations. There is no right or wrong with our speculations, even we say that bitcoin price will reach $10k next, in fact, it is alright but it too far from reality.
We can actually prepare for the incoming if we want to but due to its volatility life, everything will be full of surprise and hard to prepared. 

OP's price range is too high at the moment we never know if it could get that high.
And I agree if OP wants to get a quick profit better to set it at a lower price the market is currently struggling to break $8,500 so it is better to set it around $9K just to be safe.

I think it is going to go up. But not that high above the current price. Of course I could be wrong but I think those targets are not going to be reached so soon. At the moment, the sentiment is 60:40 in favor of going up, so yeah, I'm optimistic. However, you are never sure what the market makers are gonna do. They may drive the price down if they think that are going to make more money. So I"m cautiously bullish, as you never know for sure.

That is good places to sell your bitcoin although we don't know when it's happening.
But you already make a good decision to place on that position, and you don't have to worry if you miss the flash pump that might happen later.
I am sure that we will break those price even if we are slow to break that price.
If we talk about the probability, the price will increase in a long time, and your price sell will reach at that time.

Those prices will most likely occurs during the next year.It's OK to wait,if you are patient. ;D
The price will move between 7-8K USD this summer and and it won't gain enough power for a big increase.

Yeah, if we are going to sell at a leveraged position it would be a lot better if we just use 9.5k or so as a target.

If you are going to put sell orders for ready then there is no need for the 16 thousand one, if we go all the way there you will probably hear about it beforehand, its not going to happen overnight, you will be online and aware and it would take weeks before it happens. That is why I think at around 12k is enough anything above that should be waited, for the sole purpose if it goes to 16k and more we should wait and see maybe it will go even higher, if it doesn't then you can have a sell order after we pass 16, like sell it when we drop to 16 type but until we reach that I believe you should keep it on your wallet.

We are doing so great right now, putting on sell orders doesn't really help us get there.

Too long waiting period will be the result if you set the price doubled from the current price.

Original poster here. It is good hearing your viewpoints on this subject.

There is news bubbling around that there may be a huge purchase coming soon of over $30,000,000,000 worth of Bitcoin. If somebody ordered that much Bitcoin, how would the price react? It would create a humongous spike, right?

Throughout Bitcoin history, what were the largest spikes? What were the reasons behind each of them?

You are right to install the price, because the potential of bitcoin will grow high. but you need to be patient until you see the price of bitcoin returning high. so I suggest that you keep watching bitcoin.

In cryptocurrency anything is possible, you can never go wrong even if you set your trade for $20,000 because overnight the price can spike.

That seems like a pretty good price range to sell at, it is optimistic but no too optimistic like everyone else thinks, i really think that we can hit the 16k range by the end of September, i mean considering where we were 2 months back at 3.5k and now we were able to go double that amount and there were no major events or news that happend, so if in the near future we see some good news we will definitely see the bitcoin thrive and go to high prices and we might see it hit 20k this year.

I am not sure why you placed for that huge amount. If that is huge rally on coming ahead in the market then your trading placement will give good pick in the future days.
You know I have placed for 8.95k USD which is real and market already crossed this value.
I can make the money faster than you because if the market reversed we cannot do anything buddy.

shorting for now seems a good thing since the volatility seems plausible. As long as you enter on the right time, shorting will gives you a good profit as well.

This analyst has some projections you may enjoy checking out: https://bitcointalk.org/index.php?topic=5140701.msg51293011#msg51293011

There's not much point assigning probabilities, but it's certainly possible. The momentum on the monthly time frame is incredibly strong, so it's easy to imagine a long wick through historic resistance levels while the market is in FOMO mode.

I got shaken out of my longs yesterday and am waiting on the sidelines for another obvious trade setup. It could go either way from here. Some analysts think we're on the verge of a multi-month downwards correction and that wouldn't be too unreasonable either.

In my opinion, it hard to anticipate when the spike in the market will happen. You just like predicting how will tomorrow comes. Due to the volatility of cryptocurrency specially, the bitcoin many people are still shock or amaze when it breaks the resistance level. But there are also pro trsder that already know when it will move up.

I don't know why you have to put that orders outside of the trend. The probability that you will likely to get a profit on that might be a couple of months or more before Bitcoin could finally reach the five-figure price. Take a look at the chart and the discussion of the price of Bitcoin if you want to ride the flow of the trend.

That’s gonna happen in time, and since you are willing to wait  then I think that’s a good decision. Holdig bitcoin is always profitable, next year the halving will happen and it can make the price expensive so its good to buy now. Maybe you can set a higher price up to $20k, that’s just a simple advice which is also possible to be hit.

Of course, the probability is already there, you just need a bit of patience because there could be some resistance around $9200/$9500 and then the much anticipated 5 digits barrier. I just hope that you will really go super-long and won't short bitcoin because everyone is anticipating another massive run.

This is nice! More likely, about two months you can have your profit. But, if you do day trading, you might have bigger accumulated profit by having little profit. This is advisable as long as this is just a portion of your total investment. This is like a passive investment.

Great, and smash it hard and just relax and take a vacation, when you come back, you'll be surprise that sell order will be hit.
I believe the longest time to wait for that to fill, is this year, and just be optimistic as the market is going bullish this year, no bear market anymore, so think positive.

  $ 11,000 is an ambitious figure. You are aiming for 30% and 50% profit in BTC, it's really quite difficult. But if you buy LTC now, that profit can easily be achieved. Currently there are many groups of whales and forums discussing Litecoin Halving in the next 2 months and it is the ability for investors to profit from 30% - 70% depending on greed.

Looks like flat for now and I am not looking for amy huge spike at this stage,will be happy if the prices can stay at this level until end kf Q2.And thes we can speculate more for reaching the next high.

You are anticipating a huge profit ahead and it is a good decision, and it might happen but not sooner than expected because of the price moving to slow, but eventually, Bitcoin will go to that level, there's a lot of good news around us if I have huge amount of Bitcoin I will do the same, you must anticipate profit in the bull market.

Well, I will not blame you bro because expectation of everyone particularly those who are currently holders of Bitcoin is for Bitcoin market price increase more than what we saw in 2017 but that will not happen all of a sudden as a lot of positive things need to happen in favor of Bitcoin. I think Bitcoin at $11,000 will not be actualize soon but maybe in time to come.

We have that feeling to see Bitcoin at $11k or more but some of us are still having doubts inside. Maybe we should forget the past, it is already a part of crypto journey cause if we keep on looking back, it will affect our trust in crypto.  Though there are a big frustration and regrets last year, we should need to move on and be positive for the incomings. It really helping us.

Lol, you have a good vision buddy but you know what'll make it look bad probably, that's when the market spikes above your sell orders and enters the $20,000 once again. You'd wish you didn't sell lol.
What I mean is that, if you have such a long-term vision, you better hold it more than that price because we're definitely going above that.

There are definitely prerequisites for this. Bitcoin does show positive movement. But do not forget that there are risks. He can still fall below and then you can buy more.

I still believe there could be tremendous rise in the market value of Bitcoin in days to come and the reason for that is the crazy rate at which Bitcoin is adopted around the world. It is something that gives Bitcoin some push and with every nest push, the influx of investors in the market rises due to fear of missing out an opportunity to make money.

You are catching knives with that kind of move, it's okay as long as you have your stop loss and make sure you don't really use much leverage if you are on leverage trading. I also tried that way before with high leverage, but it's long position, I catch when the huge dump happens but I fcked up. Liquidated, cried on the corner and lesson learned.

You are playing with fire with no stoploss command. In the cryptocurrency market, everything is possible. But there are too many people expected as you will make the price of BTC very difficult to raise again. because whales are always sniffing out the strategies of many investors and therefore it will offer a different strategy.
Please adjust your portfolio and you should reduce your greed.

it might take a long time but it certainly can be profitable. right, nobody knows if bitcoin experiences a very sharp price increase when we fall asleep all that can happen. if you do not need funds in a short time, it is not wrong to make an order at that price and you can make it a long-term investment that can be profitable

Indeed, the spike happens and there's no one can easily predict that, only speculations and no real basis we are expecting things to be in positive directions after some time, keep it that way and wait for the value to bring positive growth to your investment.

It always good to buy at the current price if you believe it will reach at that level, I think it's easy to see that price and take profit.
Look at the price now, seems like we are now below again at $8000, we weren't able to hold on as we cannot break the resistance, but believe that it will rise again and we shall be again trading close to $9000.

The market movement is pretty normal, but in general we are still in profit this year, so take very dip a buying opportunity.

psychological prices affect the actions taken by traders. when this is indeed a good time to buy, price corrections occur, and the opportunity to profit is wide open. therefore we must start participating to support the rally

I think there is going to be an increase any time, but we don't know when it is going to be. I have seen a lot of people predict $10,500 for this month of June and that was the same prediction we had for the month of May and that never happened, rather the price kept running around at the rate of $8k.

So we are not even sure, but I have strong believe that we are going to at least reach $9.5k in this month of June, unless maybe there happens to be a huge spike and the price will speedily move up to $10,500 like they have all said.

Well judging from the market, the possibility for rising that high still widely open but maybe not that fast, it will take a while because the price impossible to keep on going up without being corrected, but its a good move to just set the price and wait for it, just need to be patience

What was the largest price spike in Bitcoin history?  I found this report from last year:

"WHY DID BITCOIN'S PRICE SPIKE? EXPERTS EXPLAIN EXTREME CRYPTOCURRENCY VALUE CHANGE"
Bitcoin’s value shot up by more than $1,000 in the space of an hour, driven by the biggest one hour trade volume in history
https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-chart-analysis-cryptocurrency-value-why-exchange-a8302106.html

I believe your first sell order will be achieved this month or next which you can still add it to your next sell other when the correction comes.

Those sell position you placed is really not a bad idea, it shows you are not going to be a greedy person, but hope you know that the last sell order you placed is just like half of what I expect bitcoin value to be in the coming bull run, and placing sell order at that price will keep you out of the market completely except you want to join group of people that will FOMO buy and may end up making the last mistake some of us all made in the last bitcoin bull run.
So if I were you, I will cancel that last sell order and just keep it till we see bitcoin at its ATH.

No one is really sure if the ATH of this time will pass the last ATH yest and setting his trade at that $16k is not a bad one. It is better to be on a safe side and win than risking and eventually losing.  I believe bitcoin has the potential to rise far above the last all-time high, but as you know, we all speculate without really knowing if it is certain or not.

We don’t know what value op bought and how much he has invested in bitcoin, so if he is comfortable at that value, then it will be fine. The only thing I feel he can just do is set 80% of his trade at the $16k and set the remaining 20% at the $20k as suggested by you which will not still kill him if it turns against him later.

Well there is no doubt you might get the value of Bitcoin as high as the ones you have placed the orders at. However with the passage of time, the value of Bitcoin could grow as well and if you hold, you might be able to make even more than what you expect in trading. Speculation is a great way to make more than what you expect from the market to give you.

If you are not in hurry, I don't see any wrong with your tactics. But if you are one of the day traders, for sure you will do scalping.
But if your not familiar with properly, better to stick with your way mate. Besides, you are willing to wait until bitcoin kicks its value
in the market.

That sell order has a great chance to be filled before the end of the year.
Bitcoin has been really moving well, of course we will not see a just parobolic run as that would not be healthy, having some correction now but we will be back with the uptrend shortly, keep hoping as one day when bitcoin skyrocket, that should be filled.

This is what I'm doing as long term investor.
We are not busy like short term because most of them believe on bitcoin able reach twice amount like never before.

Keep doing this as the profit keep grow !

This is not how trading should be done. I think you are a new in trading.
Bitcoin has big resistances at 9000 and 10,000 and it will not be that it will cross all these resistances at once. A better approach is to use trailing stop loss so that you do not miss out on profits.

Wow.
Your orders are way far. I dont thinj it is going to happen that fast.
I mean, you are stalling your profit by doing it.
It might happen anytime but that is a huge risk. The exchange might even close before you see that kind of price. Your bitcoins are at stake by doing that too.
Better be safer than having too much expectation.

That's very good in my opinion, putting sell orders in several places, because the opportunity to reach them is very wide open, because bitcoin is an asset full of surprises

There is still a possibility to go to that number, I suggest you buy an order also at 7000, the possibility of Having will occur in 2020 so a large increase can happen. Even if it is monitored from TA it looks like it's going to go down, it doesn't hurt to take a position at 7000

you were too greedy. Although the bull run is running, I think there won't be any whales who want them to lose money. Many investors have wanted and are placing orders to sell at those prices.
Whales can smell that and they are gradually selling their bitcoins and making their prices fall more. Currently I see the market starting red and the BTC will go down to $ 7k5.

I think Q4 will get you all you want at the price of BTC. Currently the market has some corrections from the whale's side and traders are still waiting for signals to create a huge buying power in Q4. Everyone believes that Q4 will grow and it will really grow, I am feeling that many investors are excited to invest more in crypto.

There will always be a possibility and even I feel confident the price of bitcoin will be able to rise again to exceed $ 15000. But I am not sure it will happen in the near future, so I always prepare myself and invest for the long term.

Of course such a jump will be very long where people tend to be more restrained from investing after the market is really in very good condition too, but this is a good time because prices are very cheap and then anticipate a surge that occurs, set Market prices Good long term is a good thing where you have to do a lot to develop the market, we just have to wait when the time comes.

There is always possible to see bitcoin price increase at that price, but the problem is we don't know when it will happen. You can place sell orders at any price you want, but you must have the patience to see your order will complete filling. I am sure that the price will be back to the higher price and I don't mind to place an order sell like what you did because I believe bitcoin can go to the last higher price and even more.

Not sure where you got that from, but even if so, if the mass expects the price to go up by whatever period, it's going to increase the probability of an opposite move.

Being a contrarian pays off most of the times, and we have seen that happen twice in less than 12 months time.

The first time was last year before we broke the $6000 level. People were confident about that level to hold and were expecting a bull run to happen. We got a massive correction instead.

The second time was this year before we got that pump to the $5000 level. People expected much lower levels, and some were even speculating about sub $2000 to be a realistic option. We got a massive pump instead.

Your wrong! Bitcoin is moving down already. I do not know what happens but maybe it is just a bull trap for bitcoin. However, I suspect that the price will go up in case the rumors of bakkt will happens. As of now, we should wait it to comeback on its own price. In fact, I am just holding today.

The only thing you can do is to hodl or buy even more. That's it! Selling is not advisable because you will definitely loss a lot. I know you are pressured and frustrated but much better ro resist the pain (you will get used to it as time goes by) and wait for the price to bounce back. You know what, just think positive and stay calm :).
of course, btc is naturally flictuating from time to time it doesn't retain to a fixed price :D.

Bull trap when the movement of bitcoin has not dropped a lot, man, keep calm, this just a small correction, and bitcoin is moving sideways so it's not a serious one. Maybe we are down below $8000 now, but sooner it will rise again, where is the patience man?

How about now?

I'm seeing lots and lots of bears eyeing the $6,000s now, some are looking for the $5,000s too. Expectations of $10K+ seem to have mostly evaporated. My initial thought after the crash from $9K was we were headed for a retest of the April breakout levels. Now that everyone else is expecting that too, I'm starting to question that assessment.

The fact that bitcoin dropped right now helps us a lot. I mean we all know that public still believes in bitcoin and we all know that the price will go up because the bull run is still here and all we have to do right now is buy and wait. I do not usually buy bitcoin at all but right now I could make an exception, it is so so obvious that bitcoin artificially dropped that it will be capable of going up yet again and nobody would be able to ask how it happened because its so obvious.

I don't know how much it will go up or when it will go up but the metrics show that it will go up for sure since this wasn't a real drop but only one big sell. Everyone else still believes in bitcoin and will keep buying or holding while going up.

Great post. I find that it is human nature to see the market as we want to see it, not how it really is.

I think you're nuts to leave any amount of BTC on an exchange locked in a sell order. Just my opinion though.

It is not crazy. The whole purpose of trading is to make money and taking risks is an unavoidable part of trading online. The only issue that keeps all traders from moving funds out of exchanges everyday is: withdrawal fees. We do not want to pay extra fees every time we move funds back and forth into exchanges. Every trader is fully aware of the risks. I have had crypto-currency parked at Binance for a few years now and my funds were never stolen.
 
Nevertheless, today I moved all of my funds out of Binance and into a cold storage wallet. I am taking a break.

We have been talking about this spike for a long time and I don't even know when the spike is going to be. We have all waited for a very long time for the spike, ever since the last bull run we had, the price hasn't been doing pretty good, instead all we are seeing is just low prices. Currently the price of bitcoin has dropped from $8000+ and is now back to $7000+ again. The price is currently at $7,600 and it has been around these price since this week. I just don't know how long we are going to wait, cause I was expecting that by now we will see the price at the rate of $9000 and heading to $10,000. I'm hoping there will be a big change before the end of this month of June.

Patience is really the key to success, although we all have very high needs and need money on a daily basis which usually warrant a lot of people to go into day trading, but I think waiting for Bitcoin to really pick up is not really going to backfire, and it will be worth it for the investor in the end.

Long term investment in Bitcoin has never disappointed investors in the past fi we buy at dip and not when the market is high. Trading is also not really a bad thing though, if the holder has the strength, skill and the knowledge to do so, at least he can go for the two to have a full benefits from crypto market.

That's right, if you can still afford to wait until the price will spike up then why not if it is for you to get higher profits. Bitcoin for me is the currency that is worth the wait, we may see bumps along the way but bitcoin sure can turn things around. However, if you can't wait any longer then you can do a little scalping but you might lose in the process so I really think it is better to wait that risk of scalping now and loss a long the way.

Indeed it's worth waiting for, yet needed such patience after all in order for us to sustain the journey of holding an asset longer. Most of the time a person tend to lose hope, that's why some scenarios begun to fall back down towards failure. If that failure involved a lot of money which supposed to be for your future plans, then I would suggest extend your patience and try to develop more stronger motivations towards facing the struggles.

The price is quite higher go considering the placed order . If it would have being 9 or 10k it would still have being a better option but anyways nothing wrong as just keep and forget it as for long term investor it would not be a real concern .

I think best we can hope right now is the fact that bitcoin has been doing well for the past 2 months so the spike has already happened and another big jump could happen but nothing like the previous one.

When people see that price went from around 4 thousand dollars to 8 thousand dollars and you tell them another increase will happen they do not think it will go 9 thousand dollars, they think if it went from 4 to 8 then why not go from 8 to 16 as well. That is why I honestly think that bitcoin already had its huge spike and whatever will happen from now on will be just small movements, it won't be as big ever again for a long time, of course it can reach 16 too but that won't happen in a week with quick gains after quick gains, it will probably take long months to reach there.