Bitcoin Forum

Bitcoin (BTC) has been absolutely hammered over the past two days. In fact, some 36 hours ago, it was trading at $10,200; now, the cryptocurrency is sitting snug at $9,500.
                                       
                                                                      Buy Bitcoin Now?
 

Wrong section to post this thread! Reporting to move to speculations.

@OP its not a bad idea to buy the bitcoin now since the price seems greener from this morning and looks like will reach 10K soon.But the decision is yours whether you can hold longer or just for short term.

If you are a long term trader, there is absolutely nothing wrong in buying this price because the lowest it can go to now is $9000 which is under probability, but it is certain that very soon, we will be rising up to to $15,000 which we will touch very soon before we witnessed some corrections, but as a shirt term trader, I think we will still touch down a bit more, like I said earlier, this is still under probability, so it might be good for a short term investor to hold on first and buy at a price that is a little bit lower than this.

One of the reason why I don't do short term trading is because of these little uncertainties, and no matter the analysis that you do, it is difficult to really predict the short term movement of a coin, it is best to decide on this price if you are a long term holder.

The last month bottom was around $9100 and we don't know if bitcoin is going to test that level before the next bullish push. Bitcoin has made a surprising move in the past and we could witness the same very soon as Bitcoin remain stagnant around $9500 for two days now and the bear keeps looking weak.

In the long run, this is a great buying area. I'm pretty confident we'll see $20K by Q1 of next year if not sooner.

In the shorter run, we're technically in the middle of a downtrend on the daily and weekly charts. I'm expecting sideways/down price action for the next few weeks. I think we can zero in on a better entry by waiting. We'll either be able to buy lower ($8,000s maybe) or find a less risky entry that's unlikely to see much drawdown.

Its always an opportunity on some time frame, the problem is when people want results immediately and my immediate opinion is not so positive.   Its always a range of probabilities but I would guess we have some fights ahead to be calling this positive market action, those who take the biggest risks in these fights will gain more.

https://i.imgur.com/a05JMUT.png
   The safest route is to wait till it passes some measure of momentum and starts acting slightly more positively.    So this would be the 8 day average and its reacted negatively this evening which is about par for the course but it might challenge again and go for the 50 day average price as a bigger target and on a larger time frame.

The second part to watch is the volume, see the biggest volume bar there is downwards.   The lesson I've been taught is to watch for corrections, which can occur over time and the volume is gradually disappated away from this selling towards neutral or we get counter action.   So far we have fairly low volume, hence I'm sitting back watching some more.

it all comes down to your strategy. if you are an investor then you should have a long term outlook and that makes below $10k a good opportunity to start buying and moving the bought bitcoins to your cold storage for that long term investment.
but if you are a day trader, things would be very different and difficult for you. because nowadays things are unpredictable compared to 3 days ago when price was going up and down in a range that day traders kept making money in. now $9300 was the bottom and you should have bought there and sold at $9800 wishing for it to come back down to buy back again and sell again at above $10k this time,... and so on.

$9400 .... AAAAANNNNDDD ITS GONE!   :P

It's about 1 year Bitcoin didn't close 3 weeks closing candles red, also there is a decent decline in the volume (compared to what we were seeing a few months ago) So to me, people do nothing and just hold waiting for another decrease. Perhaps they're waiting to buy below $9k. which could or could not happen, actually I believe it can but I also believe (and perhaps more) that it will do the opposite.

https://i.imgur.com/bCam6J8.png
tradingview.com/chart/BTCUSD/sCSZ7TOv-BITCOIN-Are-you-ready-for-the-September-pump/

While someone is asking a question price is now $9800, and with the beginning of a new week we have a new mini pump which slowly brings us back to magic $10k level. I can only say that all this reminds me on time before some 3-4 years when the general question in the forum was whether to buy Bitcoin for $1000 or price will go down again to $200. We know today that it never happened, and it will probably be the same with $10k 3-4 years from now.

Smart people learn from the past, those who ignore it risk repeating all the bad things they have already done. For some small amounts of Bitcoin it doesn't matter if the price is $9400 or $8400, especially if someone invest in the long run.

Buy at regular intervals would be the best thing to do no matter what happens.
In my case I bought some at $9400 because I felt the tide was turning and chances of going lower would be low.
The CSW situation had me on edge a bit because a big dump could bring the price down quite a bit.
But then again Bitcoin has already seen it's fair share of disaster scenarios and survived.
Bitcoin is like a cockroach that crawls out of an exploded nuclear power plant, dusts off and goes on with life 8)

The historical resistance when at $ 90,000 is not great, so if you are considering buying, you might make some quick profit or loss because the price will bounce back to the $ 10,000 or go back to $ 8,000.
Momentum is not indicating a bearish sign so unless there is bad news we will not see a drop below $ 9,200 or an increase to $ 10,300.

That's always the best case to just buy at set intervals.  Unless you are a day trader it is too volatile to try to hit the intermediate highs and lows.  Set a mark, once a week, once a month, etc and stick with buying on those intervals and you should be fine

I'd just like to say that a drop of $700 over the course of 36 hours doesn't constitute a hammering--not even close.  OP, have you been in the bitcoin world long?  Have you looked at the 10-year price chart?  Bitcoin has had 36 hour periods where the volatility was much greater than this, and in addition as I write this the price is back to about $9800.  Gotta keep things in perspective.

As I've written in multiple threads, the overall sentiment is bullish and the trend is upward.  What OP described is a dip, and though I generally don't subscribe to the "buy the dips" nonsense, in this case I do think it's a good idea to buy bitcoin below $10k--because I'm pretty sure it's going to go beyond that price pretty soon, and it's a good opportunity for any trader to make some quick money.

That's actually a pretty good idea as well.  Trying to time the market usually doesn't work for people, but dollar cost averaging does have its benefits.

Today is 03.09.2019 and the price of BTC is 10300-10400 USD. But still, it is too early to answer your question.  BTC is moving between 9000-11000 USD at the moment and the break out will decide to the direction. I guess the probability of going higher is more possible than the lower.

I'm sorry but you spoke too soon just like the rest of newbies who are in a panic mode when the price goes down ~$9k. It's above $10300 now. And please stop using the word like hammered or something. Because this is how the market works and I'm sure you haven't been here when the price last November 2018 went from $6k-$3.2k.

Now regarding your question, $9400 good buying opportunity? Of course, everyone here has a habit of buying at dip and I'm if someone has buy from .1 BTC - 1 BTC he is already at a profit in about less than five days.

I think buy is good idea, i not see for short time. But usually halving really affect on bitcoin price. If i have spare money maybe i will buy (less than 1 of course) because don't have money to buy 1 bitcoin. And left it in wallet and only sell it when halving come or maybe pump phase before halving come. Maybe this strategy can be risky but see every halving bitcoin price really increased a lot. I want to try it.

This is the hard part on asking opinions of price projections in the forum rather than actually analyzing and doing your own decisions for yourself, with the market being this active you have missed an opportunity to profit already before you even have an answer to your thread. During the bullish market you have a very little time to make a decision and waiting for an answer in the forum won't be a good idea. If this was the bear market where you see little to none price movement then you have all the time you need to take some opinion for your trade but during a very active market you really don't have that choice to do so.

If people bought at that bottom price of ~9500 they would have gained an extra 1000 from the profit right now. Considering it is near 10700 I can say that it is around 10% profit.

We are talking about just 4-5 days in between of losing 10% and than gaining 10%, someone who was doing margin trading with leverage and got both of them right with 1 full bitcoin bets would have been set for life right now, I am not even kidding, if someone did 100x leverage for going down and got it right and than did long and got that right too, he would have been well off right now and would probably not have to work again depending on where they live.

Right now, price is still quite good to buy, maybe it will fall a bit again but I am %99 sure that the price will eventually go above these levels.

This is the sad reality for some people who do really rely on others suggestions rather than on making their own analysis and inputs and in result they do end up on regretting when the price tends to move up and their price prediction and doubts on to buy to those dips are right! Its just a matter of risk and decision making though.No charts or predictions can give out 100% accuracy.If we do feel that its already the current low then its better to buy up.If we did on last days then we are already profiting now.

Easy talking right now. In most cases the reality is that most people are afraid to buy dips because they think it will go down more. They might have bought into the run to where the price is right now, which is more likely considering the fact that most people prefer to buy into an increasing market.

Are you living in a fantasy world? Not even the best traders in the world can do that when they try it, and they wouldn't even consider playing around with such insane leverage counts. 100x is pure gambling. One tiny movement and your position is liquidated. Most rational investors and traders with proper risk management generally don't even go over 5x leverage.

Bitmex made gambling become easy for noobs with how they can adjust their leverage with a slider. ::)

If you want to play with fire like that, go via options and also setup a company to trade.    Then you can carry over losses between tax years and they wont be personal to you and end up losing your house, etc.
  Theres a whole technique to the professional trading and that path is best to take if messing on that scale.   My simple advice to gamblers and speculators alike and such leverage is a fair gamble, it is to stick to risking profits.    If you lose big then you have to start over but some can justify it.

  Options are a good idea because you have a naturally defined risk, you bet on the price for a date and the cost of that bet is fixed and expires on that date.    Its far more methodical then just buy the ******* dip strategy which I dont doubt works out for some anyway :D

Buy the dip is quite overhyped within crypto. People think that you have to buy every single dip without looking at the charts to see how much more potential downside there is. In 2018 people rekt themselves hard that way.

If you know how to read a chart and lower your entry points you'll develop a much better buy the dip strategy. Buy the dip has become a meme due to all the noobs that kept buying the price down from $20k to sub $4k. :-X

If you did then it could have been a $1000 per bitcoin.

Now, try to remember that everyday when you created this thread and when it suddenly went up again.
Think about it, it just took how many days for it to be pulled back up.
That is crypto for you. Minutes, hours or days it can change in price.
You just cannot monitor the market accurately. No one can.
Better trust your instinct. This should be a good lesson.