Long or Short since Bitcoin reached 8800 again?

[kamike]

For now all elements show btc will rise thanks to the G20.

I don't believe that's actually the case. First the market was said to be going down due to South Korea, then due to China's new regulations, after that the SEC was causing the market to go down, and then MtGox, and then G20 and Google. It's just the result of people paying too much attention to what the news sources want you to believe. Bitcoin may just have bottomed out, where traders gained back enough confidence to enter the market again.

Currently two things matter for me;

1- Is the short term demand strong enough to push the market over the $10,000 level again? I would say likely.
2- Is the short term demand strong enough to maintain $10,000 for a longer period of time without diving under that level again? Not likely.

I am still of believe that in order to break through this uninspired market, a bullish trigger is definitely needed. As long this bullish trigger isn't there, the chances for a real breakout to happen are very low. In a market as speculative and hype driven as the one from Bitcoin, it doesn't take long before traders get bored and start unloading coins again.

You are right, we have to view the positive side of bitcoin always as this will give you such a better life that you are not expecting most, so give yourself at least some years to hold bitcoin so you can see the positive outcome on it. Make it a vision, don't let those negative news ruin your decision.

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[newwest]

For now all elements show btc will rise thanks to the G20.

I don't believe that's actually the case. First the market was said to be going down due to South Korea, then due to China's new regulations, after that the SEC was causing the market to go down, and then MtGox, and then G20 and Google. It's just the result of people paying too much attention to what the news sources want you to believe. Bitcoin may just have bottomed out, where traders gained back enough confidence to enter the market again.

Currently two things matter for me;

1- Is the short term demand strong enough to push the market over the $10,000 level again? I would say likely.
2- Is the short term demand strong enough to maintain $10,000 for a longer period of time without diving under that level again? Not likely.

I am still of believe that in order to break through this uninspired market, a bullish trigger is definitely needed. As long this bullish trigger isn't there, the chances for a real breakout to happen are very low. In a market as speculative and hype driven as the one from Bitcoin, it doesn't take long before traders get bored and start unloading coins again.

You are right, we have to view the positive side of bitcoin always as this will give you such a better life that you are not expecting most, so give yourself at least some years to hold bitcoin so you can see the positive outcome on it. Make it a vision, don't let those negative news ruin your decision.

Going long is a better option now as prices are recovering well and should  move 9k upwards and we can see lot of buying happening global due to which this has caused the price to rise. Unless we have some negative news related to btc their should not be any worry.

[Mobshady24]

For now all elements show btc will rise thanks to the G20.

I don't believe that's actually the case. First the market was said to be going down due to South Korea, then due to China's new regulations, after that the SEC was causing the market to go down, and then MtGox, and then G20 and Google. It's just the result of people paying too much attention to what the news sources want you to believe. Bitcoin may just have bottomed out, where traders gained back enough confidence to enter the market again.

Currently two things matter for me;

1- Is the short term demand strong enough to push the market over the $10,000 level again? I would say likely.
2- Is the short term demand strong enough to maintain $10,000 for a longer period of time without diving under that level again? Not likely.

I am still of believe that in order to break through this uninspired market, a bullish trigger is definitely needed. As long this bullish trigger isn't there, the chances for a real breakout to happen are very low. In a market as speculative and hype driven as the one from Bitcoin, it doesn't take long before traders get bored and start unloading coins again.

You are right, we have to view the positive side of bitcoin always as this will give you such a better life that you are not expecting most, so give yourself at least some years to hold bitcoin so you can see the positive outcome on it. Make it a vision, don't let those negative news ruin your decision.

Going long is a better option now as prices are recovering well and should  move 9k upwards and we can see lot of buying happening global due to which this has caused the price to rise. Unless we have some negative news related to btc their should not be any worry.

And yet it's down by 8850usd again, might thinking of selling soon if it reaches atleast 9.5k or 10k, seriously the support for 9k is really weak might be the reason for bitcoin getting hard to pump up again.
short term could possibly the best choice by now because of this fluctuating events.

[Konbo]

First of all. Thanks for your opinions. I made the typical noob Mistakes since i started Trading. Couse i was leaded by Greed and FOMO. Im Not proud of it and i learned wehre it can lead you. but i think many People are acting in this Market based on this.  i hope knowing my biggest Mistakes so far will aprove my skills in the future. And of corse i Hope that Bulls are on my side for a while 
But either way im Not planing to leave Crypto ever.
Missed the Chance when Bitcoin was around 300 Dollars  couse i was to Blind to See the Potential in this Tech.
So thanks again for your answers and Good luck to all of us
 

it is good that you realize this already. trust me there are a lot of people who have been trading for a while and still don't realize they are acting out of FOMO and greed!

all i can tell you at this point is that the market is pretty tough to predict at all times and now that things are going sideways it becomes even harder.
but i agree with magneto above that ever since price reached $9000+ i am also very positive about this trend. but it still doesn't mean price will stay up or go up.

Apreciate it. Yeah weve seen a drop to 8350 again but his time i took profits at 8800. Now lets hope the stronger 8200 resistance Bounces back about 9200. Otherwise it will fall even lower i think.Lets Hope in the next years the Market atracts more serious long Term Investors and  Big  Industries keep reaching for the Tech behind it. As long as this Trend of adoption keeps rising were in for a bright future

[talkbitcoin]

every time you think the rise is going to start and go above the resistance it stops and falls down. and every time you think this is the big drop which will last and go lower, it resists and goes back up!
i am going to say it now, we have to get comfortable with this sideways market because it seems like it is going to last a while. and that means we will see same prices over and over.

[RamonBTC]

Anyways, nothing really matters if what is your strategy as long as you’re not making such decision because of fair or panic. This same in a case or a much better in terms of dip last bearish market reaching below at 6000$. We do have mistakes and being Greedy is somewhat good or bad depends on the outcome. But don’t take a total emotionalism.

[HatakeKakashi]

Bitcoin is perfect for longterm because we know if you hold bitcoin for few many years the possible that you get is very big. Or maybe even short they can get big it depends to the luck if the price become very high in a short period of time or it will takes long time. But better to have a plan that you do short and longterm to bitcoin .

[Lieldoryn]

The cryptocurrency market reminds me of the history of the wild West. No rule. There are many opportunities, but they are all at greater risk. Stay away from this impossible because of this may depend all our future life. I act on the principle of the mind fears but hands make.

[Kemarit]

Do you guys go long or still short  since Btc price reached 8800 again?
My Bags bleedet out since the big dip  and i could use some advice.
Still need to learn a lot about Trading and this Market.
It is just hard for a Virgin like me in this Bear Trend  to Survive 

It reaches as high as $9000-$9200 if I'm not mistaken before a sudden nose dived to around $8500 today. Personally, I will still go for long term. Why? Because I still believed that we are going to hit all-time-high in the future. As to not worry about the price swings in the last three months as well. Will buy in dips and just hold, its that simply.

every time you think the rise is going to start and go above the resistance it stops and falls down. and every time you think this is the big drop which will last and go lower, it resists and goes back up!
i am going to say it now, we have to get comfortable with this sideways market because it seems like it is going to last a while. and that means we will see same prices over and over.

Right. That's why most of us are having nightmares and headaches because of the wild swings. You go to sleep seeing green in the market, then wakeup with negatives. LOL. That's why I really prefer to hold for long term.


Let's see if you are going to test $9000 again. I'm sure the dip has something to do with the Binance FUD again. But they already made announcement that they are looking to move to Malta. So there's no need to dump your coins, but take this opportunity again to stack up because we might try to test $9000-$10000 before the end of the month.

[Omega Weapon]

The cryptocurrency market reminds me of the history of the wild West. No rule. There are many opportunities, but they are all at greater risk. Stay away from this impossible because of this may depend all our future life. I act on the principle of the mind fears but hands make.

Well you must understand that every opportunity comes with great risk, you are referencing the wild west well those that did tried to conquer the wild west took a risk and stayed despite they faced basically two outcomes, they could fail miserably or they could succeed and the only way to succeed is to be willing to fail you need to accept that is part of the deal if you can't then stop investing in bitcoin.

[Technos]

There were several events when it was a good moment to short Bitcoin at that price range. However, at this point it doesn't look like a good idea, since we are at a double top, and it seems Bitcoin is gaining enough moment to break previous highs.

But that's just my view of things, so don't take it as trading advice.

[wuvdoll]

I'm shorting until a week after the G20 meeting and all the upcoming news.

For me it's profitable for now.

The news from the G20 meeting has actually been a positive one and nothing much to cause any panic at all despite all that has been created already before now. I believe the market is trying to achieve some little level of stability and maybe usher us into an accumulation period, but I guess we will have to wait and see for now how things will end up turning out.

I have been short for a while now since when we did a double top at the $11k region and only went a little bit long with the way things turned out a little bit with the divergence on the MACD on the 4 hour chart which brought in a little bit of rally anyway. So far, I am still just trying ti play along with the market to see how things turn out eventually, so I am just trying to be careful.

[omonuyak]

Do you guys go long or still short  since Btc price reached 8800 again?
My Bags bleedet out since the big dip  and i could use some advice.
Still need to learn a lot about Trading and this Market.
It is just hard for a Virgin like me in this Bear Trend  to Survive 

If you have risk capital I think the rights thing to do now is buy and hold bitcoin for a very long-term. we should know now that bitcoin has started to attract the attentions of big market players and international community and therefore we are going to experience surge in price before end of this year.

[Raimy]

I am still short from above $14k when I lost my nerve (now glad I did) and I am still waiting for a good bottom to jump back into. I did pick a little bit up back when we were near $6k, but I am still waiting for the big "mother of all buys".

I trade a small amount in-between to keep from getting bored, but I don't think we have reached the real bottom quite yet. I could be wrong, but then again I have plenty of room to get back in again before I lose any money, or more correctly lose any Bitcoin.

[Ararbermas]

For  now i think much better to choose short term 'cause as we noticed  the growth rate always drop since the price reached that valued again and perhaps it will never go higher due to causes people to panic sell when the price rise so for me short term is the best choice nowadays. 

[Inkdatar]

It depends on your moves whether to do short term this time. As you can gather profit on your strategy it doesnt matter, we have our own attack on the market. Since I have decided to do long term whether the price drops I still have it long term goal.

[beerlover]

Long, always long. I hold bitcoin because I believe it is and will be the best coin, so I don’t care that much about the price. I am fully aware that it is a highly volatile asset, so I take what has happened in the past months for granted. It reached 19k too fast, so now we are in a consolidation phase.

I have been long since 2013 and I see no reason why I should not continue being long as I believe in the future of bitcoin. I did a little bit of shorting anyway when the market had a bull rally and it simply showed some possibility of downtrend and I got back long at $6200.

So, I guess I have to wait to see how that turns out eventually. Nothing much is going on in the market apart from the recent news, but it seems that is not sufficient enough to give the market a good boost.

[Oasisman]

First of all. Thanks for your opinions. I made the typical noob Mistakes since i started Trading. Couse i was leaded by Greed and FOMO. Im Not proud of it and i learned wehre it can lead you. but i think many People are acting in this Market based on this.  i hope knowing my biggest Mistakes so far will aprove my skills in the future. And of corse i Hope that Bulls are on my side for a while 
But either way im Not planing to leave Crypto ever.
Missed the Chance when Bitcoin was around 300 Dollars  couse i was to Blind to See the Potential in this Tech.
So thanks again for your answers and Good luck to all of us
 

Experience is the great teacher as they say. Still a lot to learn which is a very exciting thing like studying the market and making your own analysis which leads you to obtain a certain technique. Right now, where hanging around $8500-$8900, and I can say now is the best time for you to make up on the opportunity you lost before. Bull market is approaching soon. Good luck to you.

[Herbert2020]

Experience is the great teacher as they say. Still a lot to learn which is a very exciting thing like studying the market and making your own analysis which leads you to obtain a certain technique. Right now, where hanging around $8500-$8900, and I can say now is the best time for you to make up on the opportunity you lost before. Bull market is approaching soon. Good luck to you.

to be fair when price is inside of a triangle and has not yet broken out of it (either upwards or downwards) you can not possibly know whether a bull market is on the way or a bear market. my guess is that there will be a bull market soon but it is a guess and you should never invest based on a guess. specially when you are talking about "analysis" you should first analyze and see that triangle and then wait for price to break out of it.

[lingwistiko]

Do you guys go long or still short  since Btc price reached 8800 again?
My Bags bleedet out since the big dip  and i could use some advice.
Still need to learn a lot about Trading and this Market.
It is just hard for a Virgin like me in this Bear Trend  to Survive  

You're not alone since i also experienced that. What i did is just hodl strong and never let my emotions push me to press the PANIC SELL button. Not yet, because i still believe that bitcoin will be normal and come back again.