BTC technicals are against ATH. Liquidate

[dunfida]

BTC technicals are against $20,000. I don't think holding now is a good idea.
Maybe a good idea is to move the money from BTC to altcoins.

If BTC breaks $21,000 confirming a breakout, media will write about BTC and move retail investors will flow in. Then get in.
I think for now, the best idea is to liquidate BTC. And move to alts.


What's your take and why?

Happy to discuss!

Its up to someones choice because it would really be moving neither of those path its up if its goes down or rise after breaking its ath but to presume that
media will surely publish news about such breakout and this is where hype and interest will flow in.Next? Sell out for those who bought earlier and lets hope
that there would be no bad crash out into the price and able to withhold but if not then we would be seeing an another 2017 scenario but i observed that
it wont really be the same if basing to the level of adoption.

[KTChampions]

I didn’t see any strong rationale for the assumptions in the first post. There is a chance that the "forecast" will coincide with what will happen, but it will only be a coincidence - every day many people make forecasts and the fact that someone guesses is inevitable.

[lixer]

Technicals are not always right, they are sometimes right and sometimes wrong, we do not know which one this will be. However, I have to say ever since $14k the greed index has been looking like it is skyrocketing and bitcoin still didn't stopped and finally broke the ATH price for example. People assumed we weren't breaking it and we were dropping and look where we are right now, finally over the ATH price after 3 years.

In the past 3 years there has been some people who even went as far as saying we would never break the ATH price, and we proved them wrong as well. Do not ever doubt bitcoin price, I am not saying it will not go down, it always goes down eventually, but never assume it will not go to certain price but it can be at any price any moment and shock you.

[STT]

Alt coins have higher volatility then BTC, its not usually the move of the risk adverse to do so.   You might be right on trading but superior performance is coming with higher risk or effectively its a leveraged play.

Im not too negative on BTC right now but it should be watched carefully, we are breaking the trendline or channel for the last month however this would need confirmation as break of trend occurred last week also but recovered to end the week positively.
   We rose from the 2 day average at the start of friday action, broke down below with the biggest bar of the day then dragged along the bottom of the trend till near close of the working week and now finally we are ending with a push below trend and towards the weekly average.   If we cross below 18500 and end this week on Sunday in such a way it could develop negatively further, however we may yet recover still.   I doubt we are moving downwards without hesitation.

[adaseb]

BTC technicals are against $20,000. I don't think holding now is a good idea.
Maybe a good idea is to move the money from BTC to altcoins.

If BTC breaks $21,000 confirming a breakout, media will write about BTC and move retail investors will flow in. Then get in.
I think for now, the best idea is to liquidate BTC. And move to alts.


What's your take and why?

Happy to discuss!

Here is the thing with waiting for it to break $20K and buying it at like $20.5K or $21K. I see one or 2 things happening here.

First one is that it will break $20K and head straight to like $23-25K or so. What do you do then? Buy it at $25K. Seems very risky. Another most likely scenario is that it will break $20K, go to like $21K and then go back down below the $20K and start to go towards the $19K basically be a fake out pretty much.

Remember what happened in Nov 2018? It broke $6K and many people wanted to sell at a loss at $5.9K, however it never went to $5.9K went to like $5.6K and headed straight down right away towards the $3K. So if it was this easy everybody would be trading this scenario.

[davinchi]

Do not believe everything TA says, we are in a world where TA means nothing right now and everything is purely human at this point. Humans makes mistakes all the time, not even just about bitcoin, they make mistakes about basically everything. Which means even if TA show that it should be going down, even if people should sell, even if everything basically says get out, people will not do it because there is a hype going around bitcoin and they want to be a part of this hype, which is why they will not let it go.

This is going to be a bit tough because we can't continue to go up forever, hence at some point people will stop, however when they stop it will not be about TA since almost all of us do not look at that to make a decision.

[cryptoadviser]

Do not believe everything TA says, we are in a world where TA means nothing right now and everything is purely human at this point. Humans makes mistakes all the time, not even just about bitcoin, they make mistakes about basically everything. Which means even if TA show that it should be going down, even if people should sell, even if everything basically says get out, people will not do it because there is a hype going around bitcoin and they want to be a part of this hype, which is why they will not let it go.

This is going to be a bit tough because we can't continue to go up forever, hence at some point people will stop, however when they stop it will not be about TA since almost all of us do not look at that to make a decision.

And hence the probabilities.
TA works because people see it. People see it so it works. Its a self-fulfilling prophecy.
Work on probabilities and you will never lose money on trading.

[crwth]

I don’t think you should put it in some altcoin Because Of the possibility of losing its value again and going with the price of BTC as well. I think it’s better to put your capital in stable coins like USDT or USDC just to preserve the USD value of it, if it’s what you are aiming for to grow. If you want to earn BTC then altcoins are the choice.

[daarul50]

Do not believe everything TA says, we are in a world where TA means nothing right now and everything is purely human at this point. Humans makes mistakes all the time, not even just about bitcoin, they make mistakes about basically everything. Which means even if TA show that it should be going down, even if people should sell, even if everything basically says get out, people will not do it because there is a hype going around bitcoin and they want to be a part of this hype, which is why they will not let it go.

This is going to be a bit tough because we can't continue to go up forever, hence at some point people will stop, however when they stop it will not be about TA since almost all of us do not look at that to make a decision.

And hence the probabilities.
TA works because people see it. People see it so it works. Its a self-fulfilling prophecy.
Work on probabilities and you will never lose money on trading.

Better to trust on data + numbers provided by the TA rather than trust the media that clearly has certain agenda.
That is the principle that currently i am holding on.
day by day i see it is getting clear that the whales and some institutions that holding large amount of bitcoin trying to build a fake momentum for people who know nothing about bitcoin to jump in while they liquidating piece by piece.
The long journey for bitcoin to reach 100000 usd must be halted now , wont be easy journey .

[KTChampions]

Do not believe everything TA says, we are in a world where TA means nothing right now and everything is purely human at this point. Humans makes mistakes all the time, not even just about bitcoin, they make mistakes about basically everything. Which means even if TA show that it should be going down, even if people should sell, even if everything basically says get out, people will not do it because there is a hype going around bitcoin and they want to be a part of this hype, which is why they will not let it go.

This is going to be a bit tough because we can't continue to go up forever, hence at some point people will stop, however when they stop it will not be about TA since almost all of us do not look at that to make a decision.

As the saying goes, two TA specialists usually have 3 opinions 
I am skeptical about TA even in the stock market, and the crypto has its own specifics and here TA has even less scope/efficiency. As for the current situation, it is very likely that the growth continues and higher levels will be reached.

[Little Mouse]

I don't think one should liquidate now because if you look, BTC looks more stable around $19k which didn’t last for a day last time we had ATH. So, once it can break th $20k resistance, we can see a significant move soon.

Moving to alt is much riskier now I think as most of the major alts have already pumped little to huge. I already have prepared myself before the BTC pump.

[tbterryboy]

What happens to these people when they are wrong? I mean I could come down here, claim that bitcoin will be 30k very soon, can write a whole topic about it, show some charts too, and basically do 30k bidding for all the people who wants it up, but if the price crashes, what happens to me? I get no consequences at all, nobody can do anything about it, at the end of the day if we are actually not responsible for our claims and there is nothing anyone can do about it, why should we care about what we say?

We could lie about what is going to happen all day, in fact we could open up 5000 accounts on twitter, claim with 2500 them that bitcoin will go up, and with rest claim it will go down, next whichever is right divide 1250 and do the same until one of them has MANY times they were right. We need to make sure we do not care about people online who claim they know price movements, it is very dangerous.

[blckhawk]

BTC technicals are against $20,000. I don't think holding now is a good idea.
Maybe a good idea is to move the money from BTC to altcoins.

If BTC breaks $21,000 confirming a breakout, media will write about BTC and move retail investors will flow in. Then get in.
I think for now, the best idea is to liquidate BTC. And move to alts.


What's your take and why?

Happy to discuss!

Well, yeah I will think about this one but I don't think it to convert my Bitcoin into Altcoins, maybe if it is a stable coin like USDT, BUSD, and more because from that I will be more certain that the profit will be safe unlike in altcoins with having no certainty.
Thereby, placing it in some alts makes it even riskier. Yet, alts only follow on the move of Bitcoin thus if it plunged and so will be for most of the alts in the market. You gotta choose your take for this one carefully.

[Filicius]

I am totally aware that this is not the general opinion at all, but to me technicals can be compared to horoscope, sorry for sharing this point of view here.

Anyone who gives financial advice based on TA should consider first how many times did his analysis fail. No one has a crystal ball to know about the future, and TA insight is almost always biased to me. I do know that there are a few ways to make money via trading, scientifically, mathematically, but I don't think it is done the same way most members who share technical analysis on this forum or social media do, which has more to do with pure luck and speculation.

For those learning technical analysts, consider opening your eyes to this possibility just in case. I will consider learning TA better just in case I am wrong too.

[btc_angela]

TA might say that it is against $20k right now, but after a week we haven't seen the price goes under $19k and it's been trading sideways. So I'm not sure if it is a good financial advise to liquidate a week ago as you don't have a entry point right now.

And if you decided to move too altcoins? not much as well, so it better if we just hold our BTC and then wait for another break out to $20k-$21.5k.

[FanEagle]

I would say that liquidating would be the most wrong thing anyone can do in bitcoin world, we all know that it is something that will continue to rise forever, so why lose all of your bitcoin just now as we are breaching into unchartered territories. This is the moment the real profit comes, right after we are moved beyond what we have seen as possibility so far, because rest of the prices above us are the prices we have never seen and have no idea what will happen.

Only the people with real courage will have the chance to make this work and they will see all the profits from it as well. I would say hold, hold as long as you can, hold like you are Spartan with your brothers beside you and your shield in front of you, hold now so that your children will be capable of living a luxurious life.

[KTChampions]

TA might say that it is against $20k right now, but after a week we haven't seen the price goes under $19k and it's been trading sideways. So I'm not sure if it is a good financial advise to liquidate a week ago as you don't have a entry point right now.

And if you decided to move too altcoins? not much as well, so it better if we just hold our BTC and then wait for another break out to $20k-$21.5k.

In addition to the exit points, you also need to remember about the entry points. Those traders who bought bitcoin at 6k are quite happy with the exit at any level above 10k (it seems to me) - this is a guaranteed profit and its fixation. Obviously, part of the investment can be left in assets in case of further growth, but this depends on the investor and his goals. Some are quite happy to do x2 and leave the market before the next crash and cheap prices.

[error08]

I don’t think you should put it in some altcoin Because Of the possibility of losing its value again and going with the price of BTC as well. I think it’s better to put your capital in stable coins like USDT or USDC just to preserve the USD value of it if it’s what you are aiming for to grow. If you want to earn BTC then altcoins are the choice.

Traders who choose to buy altcoins expect a higher return compared to buying bitcoin at the current market condition, still uncertain whether to rise or drop to a certain point like the last time it fell to $16,3k before recover to $19k again. We can expect bitcoin to surpass $20k this year or in January 2021.
In this case, I prefer to buy altcoins if bitcoin manages to break the ath as altcoins will follow the path of bitcoin days or weeks afterwards.

[7788bitcoin]

Traders who choose to buy altcoins expect a higher return compared to buying bitcoin at the current market condition, still uncertain whether to rise or drop to a certain point like the last time it fell to $16,3k before recover to $19k again. We can expect bitcoin to surpass $20k this year or in January 2021.
In this case, I prefer to buy altcoins if bitcoin manages to break the ath as altcoins will follow the path of bitcoin days or weeks afterwards.

The risk is high even if you enter the alts as the entire market is on top and the uncertainty is for every other coin. I am not a huge expert in identifying the price movements well before it happens other than looking at the market and seeing how much volume and buy orders are active and that is how i evaluate my position. I wont be investing in any coin at this point because the market is too high for taking that kind of risk, i might take chances if there is a correction.

[crwth]

I don’t think you should put it in some altcoin Because Of the possibility of losing its value again and going with the price of BTC as well. I think it’s better to put your capital in stable coins like USDT or USDC just to preserve the USD value of it if it’s what you are aiming for to grow. If you want to earn BTC then altcoins are the choice.

Traders who choose to buy altcoins expect a higher return compared to buying bitcoin at the current market condition, still uncertain whether to rise or drop to a certain point like the last time it fell to $16,3k before recover to $19k again. We can expect bitcoin to surpass $20k this year or in January 2021.
In this case, I prefer to buy altcoins if bitcoin manages to break the ath as altcoins will follow the path of bitcoin days or weeks afterwards.

I guess it would depend on the trader himself because personally, I wouldn't let the value of my capital, whether in BTC or USDT, to depreciate just because of the possibility of earning more or not. As long as my capital remains the same, I would still prefer to trade and profit and not risk another coin continuously. If I were you, I would stick with BTC if you believe it would reach a new ATH this year or 2021.