Selling at $27K, then getting back in around $27.8K if breakout seems likely?

[skyroamjanetismine]

I've held since 2015, and held past the 2017 crash, never cashing out until 2019 (at bad times) and 2020 (at bad times, and some "medium" times, i.e. 15K).

I'd like to get some out at least 27K but not miss out if it goes higher. Of course I'm willing to take relatively minor losses in order to not miss out if it goes higher.

The way I see is it that if BTC can hold above 27500ish for 12h-24h and then begins trending toward 28K-28.5K then I can buy back in and see if a breakout occurs.

But I also feel that if BTC goes below 24700, and holds below then we will see a further dip.

Instead of selling at 24700ish, I'd rather sell now at $27K or maybe even $27.3ish if I can, and then get back in around $27.7K-$28.3K, lower the better minimal loss

Of course I lose $700-1000 in doing this, but I lose more selling at 24700.

Now if it goes from $28.3 back down (false breakout) then I could sell again at at 27.3.  I could do this about 2-3 times (2-3 false breakouts) and it would be equivalent in a way to just waiting and selling at 24700.

I'd like to hear some opinions,  maybe I'm overlooking something?

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[livingfree]

Those buying and selling points aren't really that far unless you're cashing out a whole bitcoins then you could play with those hundreds to a few thousands of bitcoin's price move.

There were some that have been selling in the past at the lower price yet never bought back again. I think you know what you're about to do and there's the plan that you have. You're all set and you only need to execute it all at once.

[Bitcoin_Arena]

It's all about you and knowing what you want after that long wait. When the price starts crashing have it in mind that it crashes so fast. You may wake up one day and the price is way blow $20k. What I would suggest is that know your entry and exit points and don't be too greedy. Live to fight another day, Bitcoin is here to stay

[sheenshane]

You're aiming and play a small amount of profit and the fees of doing that might kill you and instead to have profit it goes to the fee.

Why not sell all your Bitcoin at the point of maybe 30% profit overall and buy back when there's a correction happen, we know that Bitcoin has high fees and you can't cover this if you are often having transactions.  There's no problem with having a buying and selling point but make sure you've played a big amount so that the fees won't hurt you.

Besides, that is too risky, you will never know the price movement of Bitcoin and when is the perfect time to sell and buy.  Anytime Bitcoin will move up and down without any specific time frame where it will go heading.  

[Mpamaegbu]

Your risk to reward ratio is small and may not be really worth it to take the risk. If you're scared out and sold at the $27k level, then you should wait awhile for a correction before buying back and not just rush in. It's bad trading practice to buy back higher than one sold. However, to the best of my perspicacity, I really don't think Bitcoin is in for a crash now. There may be minor corrections on the way and those corrections aren't worth the risk of selling off to buy back later, in my opinion anyway. You can play with the alts by taking your chances but doing that with Bitcoin is taking a huge risk. Bitcoin will continue to soar well into 2021.

[GreatArkansas]

Here's a simple saying I always hear: "There are always no wrongs for taking profits".
As a trader, I believe it is. Taking profits is always a good move. You are doing trading also there, you have your goal. So if you feel something about to happen, you can take profits some or depends on how you will manage your funds.

To be honest, I already took profits some at around $19,000 and $23,000. I am still looking forward to buy more Bitcoin at the future.

[kram31]

An hour ago only Bitcoin price went down to 26, 700 plus something like that and went up again into 27k$ plus now less than 1 hour down again at 26, 638$. Meaning, selling at this point of time is very hard to determine if it is the right decision to make. So, bitcoin really good for the long term I guess.

[LimLims]

An hour ago only Bitcoin price went down to 26, 700 plus something like that and went up again into 27k$ plus now less than 1 hour down again at 26, 638$. Meaning, selling at this point of time is very hard to determine if it is the right decision to make. So, bitcoin really good for the long term I guess.

Listen man , the price of Bitcoin is never predictable .
And the price also depends on us, if we make the demand of the BTC high, then the price will gradually go up as the supply of Bitcoins will be less.

Coming to OP, Then there is no perfect time to sell the coin. If you wait for more profit and greed then it’s sure that you will miss the correct opportunity to sell and will ultimately face loss.
So whenever you see you get decent profit sell it.

[el kaka22]

There are tons of people who bought at high levels, but do not worry, it is not a bad move because if you do not buy at the high level, if I do not buy from high level, we will never have any high levels at all. Think about all the people who bought at 20k? Many people said 20k was a lot and it got to a point where it is too high and could crash, but the buyers didn't listen and we broke over 20k right? Think about all the people at around 24k or so, everyone said bitcoin was in a bubble and it will burst very soon and it will be like 2018, did the buyers stopped? They did not and we broke over 27k.

Never be upset about buying bitcoin at high prices because if you do not buy from there, nobody buys from there and if nobody buys from there the price will not go up. This is why it is important to support people from buying at the highest prices to have higher prices.

[skyroamjanetismine]

Your risk to reward ratio is small and may not be really worth it to take the risk. If you're scared out and sold at the $27k level, then you should wait awhile for a correction before buying back and not just rush in. It's bad trading practice to buy back higher than one sold. However, to the best of my perspicacity, I really don't think Bitcoin is in for a crash now. There may be minor corrections on the way and those corrections aren't worth the risk of selling off to buy back later, in my opinion anyway. You can play with the alts by taking your chances but doing that with Bitcoin is taking a huge risk. Bitcoin will continue to soar well into 2021.

How low do you think the next correction will go?

Also what's your prediction as far as at what BTC price range it will onset?

Thanks

[Wexnident]

isn't the range a bit too small? You might even get yourself less profit than you'd expect due to fees tbh, since the period now may have quite a large traffic in the network due to Bitcoin being as it is right now, and well, people having a hard time discovering when a correction will happen. Still, profit is still profit so it's honestly up to you, but I'd honestly wait a bit more, especially if you're not really a day trader. There haven't really been any major blocks to Bitcoin after making it past $22,$23k, so might as well wait for that block to happen before exiting. I'd suggest watching it right now, especially since we just hit $29k, so there may be some changes you can see depending on if it breaks $30k or not.

[skyroamjanetismine]

isn't the range a bit too small? You might even get yourself less profit than you'd expect due to fees tbh, since the period now may have quite a large traffic in the network due to Bitcoin being as it is right now, and well, people having a hard time discovering when a correction will happen. Still, profit is still profit so it's honestly up to you, but I'd honestly wait a bit more, especially if you're not really a day trader. There haven't really been any major blocks to Bitcoin after making it past $22,$23k, so might as well wait for that block to happen before exiting. I'd suggest watching it right now, especially since we just hit $29k, so there may be some changes you can see depending on if it breaks $30k or not.

I agree with you. I'm happy selling at 27 but I should have bought back in at 27.2 and just held I wanted to but I hesitated, then I got back in at 27.7, freaked out then sold at 27.7. Then got back in at 27.9 and set up a stop loss as 27.4 and literally it closed by $15 I was so bummed. I didn't know about the triangle thing.

That's why I hate doing this without some kind of coach or multiple coaches that can give me pointers and then i can make the decision at the end. i can't learn all this as fast as the market is moving. I have a job. But I don't want to miss out on this run.

I looked into this one funds manager but they required 5 mil. I'm looking for more. I'm not gonna give anyone custody. i just want to someone I can ask questions to and guidance so I don't keep making these mistakes.

I'd like to get back in again if it's going to go to 40K before correcting which I think there is a good chance. I'm thinking of waiting until 30K though. But again, I don't know how to go about this the best way?

I just hate that I've sold a little over 40 percent of my holdings now at prices that are not as good as they could have been if I had guidance or a coach.