BTC technicals are against ATH. Liquidate

[KTChampions]

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.

This is a smart strategy as altcoins tend to rise faster than bitcoin in a global bull market. But as has happened many times, sometimes bitcoin grows and its dominance grows i.e. bitcoin sucks funds from other altcoins, so when bitcoin grows, they fall.

[RealMalatesta]

Ever since this topic was created, bitcoin has managed to stay above $19k level, no matter how many times we seen sellers try to push it down, it has kept that 19k level and that is something we can't ignore, it is certainly a great deal for all of us. So, I would say technicals could be against ATH as much as they want, but it is not working at all.

Plus it depends on where you look on it, some places may look like it is against it whereas some other technicals shows that we are doing just as we imagine we would do, plus there are some more that says as long as we keep it here for a long time, it will suddenly start to look like going above is more possible, even if it looks not possible right now. So at the end of the day, I still say we have 50%-50% chance of going up or down.

[TGD]

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.

This is a smart strategy as altcoins tend to rise faster than bitcoin in a global bull market. But as has happened many times, sometimes bitcoin grows and its dominance grows i.e. bitcoin sucks funds from other altcoins, so when bitcoin grows, they fall.

Yeah. In some rare case, Altcoins price follows bitcoin price pump afterwards just like what happened on 2017 bull run which Bitcoin and Altcoins rallies at the same time that result to a huge overall market cap. Investing in altcoin while the overall market condition is uncertain is very dangerous. I don't know if it's advisable for a regular trader to do that strategy buy I believe only few altcoins maintains or rally price while bitcoin is dominating the whole marketcap. You are very lucky if ever you invest on the right coin.

[KTChampions]

This is a smart strategy as altcoins tend to rise faster than bitcoin in a global bull market. But as has happened many times, sometimes bitcoin grows and its dominance grows i.e. bitcoin sucks funds from other altcoins, so when bitcoin grows, they fall.

Yeah. In some rare case, Altcoins price follows bitcoin price pump afterwards just like what happened on 2017 bull run which Bitcoin and Altcoins rallies at the same time that result to a huge overall market cap. Investing in altcoin while the overall market condition is uncertain is very dangerous. I don't know if it's advisable for a regular trader to do that strategy buy I believe only few altcoins maintains or rally price while bitcoin is dominating the whole marketcap. You are very lucky if ever you invest on the right coin.

Also, we must remember that there is a difference between new altcoins and old ones. New altcoins can provide fantastic profits under certain conditions. As for the old ones, as far as I know, there is not a single altcoin that would update its high to bitcoin. A funny statistical fact showing that bitcoin beats everyone at a distance.

[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!

Yeah, I've been thinking to liquidate a fraction of my holdings right now. It seems the resistance was too strong which is why Bitcoin couldn't any go up longer above $19k. Currently, the price is hovering around $18k -$17k which I wasn't so sure if the run is over or not, the thing is not to be greedy and go get real here. However, if I am going to liquidate my Bitcoins I wouldn't do it in some random altcoins but rather in something more stable like USDT to preserve the value of it. By then if there's a forecast that it will surge again I can buy it back again.

[darewaller]

This looks more and more realistic everyday but I am still not taking any chances because it is a zero loss game for me. If OP is right and bitcoin goes down, that means I am going to stay with some bitcoins and "losing money" right now and I will have to wait a lot and will make a profit later on. However, if I am right and it goes up I am going to profit. Both of those situations means I am going to make a profit, in one of them I make money right away, in the other I am just going to wait a bit longer.

When you are a long term investor, this type of ups and downs doesn't really change too much, it does change a bit but not too much, that is why I do not agree with the fact that people should liquidate right away, that just doesn't make any sense right now.

[stompix]

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.

Two weeks later..and the technicals were a bit ...not technicall
And this prediction was coming from a guy who claimed to roll in hundred percent gains and also tried, fortunately unsuccessfully to manage other people's money around here or to charge for advices that would earn you, how much is zero? 

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.

TA works because you can see in TA whatever you want, you can put a billion indicators on a chart and eventually one will fit perfectly, nothing different from Professor Pigskin, in your case, you've failed because you've chosen the wrong one.

This looks more and more realistic everyday

It does? Well, today was the day not like the other three days before. I'm always enjoying reading when people claim that something is clearly going one way only to be proven wrong a few moments or days later.
If it were a bulletproof way to determine the price there would be no more trading being done as we all knew when to sell and when to buy but have no trading partners, in the end, all this is just a gamble, but you don't gamble on the price you gamble on the method you've chosen to guess the price. Same results.

[Ridwan Fauzi]

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.

This is a smart strategy as altcoins tend to rise faster than bitcoin in a global bull market. But as has happened many times, sometimes bitcoin grows and its dominance grows i.e. bitcoin sucks funds from other altcoins, so when bitcoin grows, they fall.

When the sentiment market is good for bitcoin then there will be many investor who will look bitcoin as a main place not altcoin. The investor will only look bitcoin to gain profit they will ignore altcoin price movement. Same as your, I often to see many altcoin just dump when bitcoin price is increasing, but when bitcoin is facing a sideaway in a lower time frame than altcoin price movement going crazy. The price just move fastly and you'll be late if you buy at the desired price, so to me in uptrend market like now you will be safe if you trade bitcoin only.

[STT]

Hard to take any negative view right now but the place to watch might be 4hr bars.    Here the blue line is the 4hr average price and all day we've kept above that, some rapid strong momentum lifting BTC.    So to be negative we need to be trading below this so the days sentiment is taken as profits by various traders.

   

2nd chart is actual 4hr bars, all green in sequence so the two charts reflect each other.   The trend shown is daily gain since Nov start.

[wxa7115]

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.

Two weeks later..and the technicals were a bit ...not technicall
And this prediction was coming from a guy who claimed to roll in hundred percent gains and also tried, fortunately unsuccessfully to manage other people's money around here or to charge for advices that would earn you, how much is zero? 

Which shows that for the most part those claims are just there to try to entice people to invest with them, unless hard evidence is shown about previous success then all of those claims should be assumed to be false, after all anyone can create a strategy that uses a lot of indicators and that on the surface it may seem profitable but when applied to the markets it does not work.

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.

TA works because you can see in TA whatever you want, you can put a billion indicators on a chart and eventually one will fit perfectly...

This is called overfitting and it is a serious problem with trading, you can always find a combination of indicators that will predict perfectly what the market did in the past, which is why actual successful strategies are supposed to consist of nothing more but 3 or 4 indicators at max always with the same settings, if a strategy can prove itself to be profitable in many different markets over many different market conditions then the strategy could be considered to be profitable, but obviously such a strategy will not win 100% of the time as most scammers claim.

[exstasie]

Hard to take any negative view right now but the place to watch might be 4hr bars.    Here the blue line is the 4hr average price and all day we've kept above that, some rapid strong momentum lifting BTC.    So to be negative we need to be trading below this so the days sentiment is taken as profits by various traders.

https://twitter.com/goodmovieslike/status/1339628620789276676
https://loganlucky.contently.com/
2nd chart is actual 4hr bars, all green in sequence so the two charts reflect each other.   The trend shown is daily gain since Nov start.

While I agree the technicals look slightly off, I feel like there is also good momentum too

The weekly and monthly momentum is absolutely nuts. Haven't seen strength like this since early 2017, obviously. This is an extremely strong bull trend that will sustain for months to come, regardless of what happens on the 4-hour or daily charts. Those lower time frames will just provide shakeouts within the larger rally.

[JimboToronto]

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.

Gawd, I hope nobody took your terrible advice.

BTC technicals? What a crock.

Just sell your fiat and shitcoins and keep your wealth in real money: real Bitcoin.

[tabas]

The 2nd time today that I've seen someone advise to move their btcs to alts. Way back a month ago that seems a good idea but it's proven to always keep the faith with bitcoin.
And just as today, it didn't have broken our expectation. This is why bitcoin is the safest if you want long term run and profit in the crypto market.

[tertius993]

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.

Gawd, I hope nobody took your terrible advice.

BTC technicals? What a crock.

Just sell your fiat and shitcoins and keep your wealth in real money: real Bitcoin.

Perhaps s/he took their own advice and that's why they are so quiet on this thread ...

[TheGreatPython]

I never really understood why people would be ever against bitcoin and its increase. Always support buying bitcoin, I am not so much bullish on bitcoin from here on out neither but I would still suggest people to buy bitcoin because even if you do not make that kind of return, you are going to make some kind of return for sure. That is why I would say best method of profiting in crypto world would be buying bitcoin and maybe some other big name altcoins as well.

If you ever think that making a bigger profit path is going through selling crypto, remember that crypto could always increase and you could miss out on your future profits, even if you have some bitcoin and price falls, that doesn't mean you lost money, that just means you have a chance to buy more bitcoin for cheaper instead of losing. That is what I have been doing for years now and it works perfectly.

[KTChampions]

The 2nd time today that I've seen someone advise to move their btcs to alts. Way back a month ago that seems a good idea but it's proven to always keep the faith with bitcoin.
And just as today, it didn't have broken our expectation. This is why bitcoin is the safest if you want long term run and profit in the crypto market.

The problem is that when such advice appears, it's too late to follow it. After all, they appear after all the events (the growth of the market and the growth of altcoins, which are historically growing faster) have taken place. At such a time, it's time to get out of them, because at the first signs of a trend change, they will fall both against the dollar and against bitcoin.

[Quidat]

The 2nd time today that I've seen someone advise to move their btcs to alts. Way back a month ago that seems a good idea but it's proven to always keep the faith with bitcoin.
And just as today, it didn't have broken our expectation. This is why bitcoin is the safest if you want long term run and profit in the crypto market.

There's no such thing about safe and you can say such thing just because bitcoin did really move forward as anticipated but if it goes to the opposite side then you would definitely say different thing.
When it comes to technical aspects then we can say that it did work when the price do correlates nor make in line with it but if not then you would say that there no effect or your analysis wasnt valid at all.
Lots had made out earlier and it turns out to be right but those are just the possibilities because the price could only go neither go and up.Breaking ATh wasnt even an expected event
yet majority been saying that it will be break out in year 2021 and the price had broke it in no time.

[Cherylstar86]

I never really understood why people would be ever against bitcoin and its increase. Always support buying bitcoin, I am not so much bullish on bitcoin from here on out neither but I would still suggest people to buy bitcoin because even if you do not make that kind of return, you are going to make some kind of return for sure. That is why I would say best method of profiting in crypto world would be buying bitcoin and maybe some other big name altcoins as well.

If you ever think that making a bigger profit path is going through selling crypto, remember that crypto could always increase and you could miss out on your future profits, even if you have some bitcoin and price falls, that doesn't mean you lost money, that just means you have a chance to buy more bitcoin for cheaper instead of losing. That is what I have been doing for years now and it works perfectly.

Losing money was stressful in times of need, but if you're mot giving up you're going to recover it back through patience and determination. Every opportunity given by market downturns, would accumulate your holdings everytime it create another bounces. Bullrun literally proves it all, and not is the of predictions went into reality.

[darewaller]

Let's not go over OP too much, dude didn't know the right situation and he failed and he was wrong but we have seen a lot of people who are wrong as well, from both bulls and bears. I have seen a ton of people who expected to be over 100k+ by now, there was even that famous guy who said we would be a million dollars by now as well, they were all wrong too and we didn't dropped that much, so I can't really say that we are always right, I have also seen a lot of bears who said bitcoin "will die" and it never did neither, they were wrong too. This is just a guy who was wrong along with so many people, thousands were wrong at a time and this is just one more.

I think it is very difficult to predict what bitcoin will do, which is why I am not going to blame anyone who said bitcoin will be this or that and come out wrong, that is nature of bitcoin since it is hard to predict.

[UnDerDoG81]

Fact is nobody on the planet can predict bitcoin and it's movement.