Don’t Panic

[BrewMaster]

we are probably going to see 3 or 4 days of staying around this price before the slow rise begins and within a week the panic sellers become panic buyers.

this is the 5th day after the drop and 3rd day after the bottom was reached and as expected price is already back to trying $40k resistance to break it and for the bull run to resume.
we already passed $40k but some panic seller bears still seem to be in denial of the strong bull market.
i'm watching the trend intently these days. these indeed very interesting days to be alive.

[darewaller]

Being bearish in a bullish market means you should expect to be wrong on every idea and probability as even if correct short term the trend resolves to the longer term time frame.   Market does have a bullish trend which its exceeded and become exponential in its look, to speculate when that might end or reset is again hard to do.    However we do appear to be moving higher with lower volume here, though this might vary by exchange so I venture this as a working idea rather then a conclusion and mostly thats my process anyhow.



  Someone said the best ideas are drawn with crayons so with no shame I stay simple in that respect :p      Not sure if we are due a further revision in the range down to 30k then perhaps or it can just resolve over time also not just price.

I feel it is all about the liquidity and right now liquidity doesn't look that bad at all. Above 40k doesn't have too much resistance, which means we could go there easily, but under until 30k there is not a strong support neither, so it means we could go there as well. Obviously it is going to take some time to reach any of that, but we are going to end up seeing a huge change no matter which direction we go to.

I believe that bearish movement people would be eventually right, maybe now or maybe later but they will eventually be right, bitcoin can't keep going up forever, eventually it will have to either stay the same and become a bit stable or it will have to fall. That is why I am not going all in with bitcoin, I am doing DCA right now and that means I have a chance to either sell higher or I can keep buying lower which is the best option I have right now.

[teosanru]

Here we are today at around 40k once again. BTC has become hell of unpredictable now. The extent of bot trading is so much that there is a variation of thousand dollars within a few seconds. In such a scenario it's pretty hard to predict the market. Moreover entering trades at this time can lead to burning your money so it's sort of advisable to either just buy and hold at this time or stay away from the market altogether. Otherwise you will just end up burning yourself.

[thecodebear]

probably be pushing new ATHs by this weekend or next week at latest.

[dunfida]

Here we are today at around 40k once again. BTC has become hell of unpredictable now. The extent of bot trading is so much that there is a variation of thousand dollars within a few seconds. In such a scenario it's pretty hard to predict the market. Moreover entering trades at this time can lead to burning your money so it's sort of advisable to either just buy and hold at this time or stay away from the market altogether. Otherwise you will just end up burning yourself.

Burning yourself when you do tend to sell in panic but if you do end up on holding those coins then you arent losing something.Its true that this market
had been really be an unpredictable one and wont really be an easy one for you to deal with in short term but playing with these movements can
really give out the opportunity for you to make money. Dont panic? this word cant really be insured up for someone because if you do saw your portfolio
is burning then its really an unavoidable thing.

[pooya87]

I feel it is all about the liquidity and right now liquidity doesn't look that bad at all. Above 40k doesn't have too much resistance, which means we could go there easily, but under until 30k there is not a strong support neither, so it means we could go there as well.

That's right which is why it all comes down to the momentum. And the current momentum is all about going up; the little pause we had recently was just a correction which didn't change anything about the bull trend that is going on. Don't forget that the rise is just getting started.

[STT]

I asked a longterm profitable trader on the volume issue and he said to continue the trade as long it works basically.    I would also intrepret that as being we can revise the pricing around the bars leading to 30k, I think thats reasonable but I dont know when.   I think some weakness will still be there should the market demand USD over BTC,  we do have some issue with rising yields possibly.   Bank results are out this week and so far they have been fair within expectations so sentiment is not too negative.



My chart is just fib lines within the sell area and possible retracement.  We are below the 12hr average which I've been noting as in line with bullish action and now also below 2 day average.

[Becky666]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

No amount of encouragement you give to those who have already made up their mind to sell that will stop them, most made sell orders becasue of the market volatility which most of us are already used to, but they will definitely gonna learn something one day. Also, some of these panic sellers do get their information on social medias without verification, most at times "bitcoin is going zero or dying or going into extinction" hopefully they'll learn from the past.

[tokeweed]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

Awww, how sweet of you tokeweed, posting the obligatory "don't panic" thread for newbs! Heart warming stuff.

Uh..  It’s more for me.  Lawl.  I went long with 5x leverage at 30k.  Wanted to exit at around 39k - 40k but didn’t.  I was kicking myself so I made this thead.  

Eventually got out with some gains tho.

[magneto]

If you are selling, you need to identify your reasons to do so.

One valid reason may be that you are actually trading on margin, and keeping your positions open may be too costly for you to handle at this point of the bull market. Then it will make perfect sense for you to cash out your short term profits now.

But if you've identified as a long term holder of BTC as a hedge against a fiat collapse, then these short term variations shouldn't matter to you.

Even if BTC goes up to 6 figures, if your end goal is to use it as a hedge, you should keep holding. Don't panic sell and lose track of your original intention.

[OgNasty]

It’s ok to panic. Being in tune with one’s emotions is healthy. You can ever learn to use your own emotions to help you see why the market is reacting the way it is. The problems don’t start until you start letting your emotions guide your decisions. Panic is ok, panic selling is not.

[Twentyonepaylots]

I asked a longterm profitable trader on the volume issue and he said to continue the trade as long it works basically.    I would also intrepret that as being we can revise the pricing around the bars leading to 30k, I think thats reasonable but I dont know when.   I think some weakness will still be there should the market demand USD over BTC,  we do have some issue with rising yields possibly.   Bank results are out this week and so far they have been fair within expectations so sentiment is not too negative.

Then this means that this is the high time to trade and invest, the market is not too stagnant for productivity to not happen and is not too dynamic to become profitable, perfect blend of the two if you will. However, it would always be better to DO YOUR OWN RESEARCH instead of relying on other people's speculations especially with bitcoin and cryptocurrency. This would allow you to be more wise and responsible with your investment since after all, you only got yourself to blame if the market doesn't work on your favor.

[snipie]

It’s ok to panic. Being in tune with one’s emotions is healthy. You can ever learn to use your own emotions to help you see why the market is reacting the way it is. The problems don’t start until you start letting your emotions guide your decisions. Panic is ok, panic selling is not.

Wise words
I will never forget when I learned about bitcoin, joined the forums and started collecting coins, when the price dropped badly and many topics popped in this sub calling to sell your assets, bitcoin is dead... Obviously this didn't happen at that time nor in the dozen times that followed it (and will never). Now we are witnessing a historical moment, even if the price dropped too much, I will not care, I started from 0, owned a good amount, sold a small part of it and will keep holding so even if we will see bad months/years, I am pretty sure bitcoin will rise again. I believe on that. Once anyone started believing in bitcoin, panic will be erased by confidence

[exstasie]

It’s ok to panic. Being in tune with one’s emotions is healthy. You can ever learn to use your own emotions to help you see why the market is reacting the way it is. The problems don’t start until you start letting your emotions guide your decisions. Panic is ok, panic selling is not.

My trading mentor had a saying about this: "he who panics first, panics best."

When a key price support is lost, dumping is usually a great decision, as long as you do it quickly. And that's why it's so important not to get emotional and refuse to cut losses when trading.

What most people do is remain confident in the early stages, holding through the crash. Then at the bottom, after a painful downtrend where it feels like price can't possibly go up, they get the fear and finally capitulate.

That's when panic sellers become bottom sellers. Don't be a bottom seller.

[Quidat]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

So you've been dealing with shorter trades on where finding out the best spot when the price bounces back? This will really be needing some analysis accompanied on making up your decision.
Dont panic isnt something that you cant just easily get rid of when it comes to dealing with volatile market.You wouldnt know on what would happen next thats why you do made out selling decisions
when you do see that the price had decrease on a very fast manner yet we have seen on how market could crash in a short span of time thats why these reactions were normal but for those
who do risk up on holding and patiently waited for the right time or opportunity are the ones who do mostly rewarded.It all matters on how you do handle out risk.

[abel1337]

I don't want to get caught in a bear trap  

I'm still hodling my bitcoins that I acquire under the 2017 ATH price.

It's been a hella self-control month for me in the month of December and January trying to resist myself not to sell. I might soon sell half of my hodling at a satisfactory price.

[sayaya17]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

That’s right. When I saw the correction a few days ago, bitcoin briefly dropped to the lowest $32. But this happened repeatedly up and down and was at a height of $39k. seeing bitcoin sideways this week, it’s an opportunity for altcoins to go green, and that’s really the case with altcoins. The altcoin market is good at the moment.
Maybe even there’s a panic selling. But that shouldn’t be the case, as it’s likely that bitcoin will set a new price above $42k.

[newdevices]

I’ve seen this twice before...  If you’re really thinking of selling, wait for a couple of days when it’s bouncing back.  It could bounce back to 36k - 38k and give you a chance to sell at a better price.  If it doesn’t...  We’re f*cked anyway.  Lawl.

I'm sure Bitcoin price will stay above $ 30k in Q1 and make altcoons explode like 2017, indeed many speculators expect bitcoin can reach $ 100K, but for me this year it looks like bitcoon will have new obstacles again, stay alert!

[CryptopreneurBrainboss]

No amount of encouragement you give to those who have already made up their mind to sell that will stop them, most made sell orders becasue of the market volatility . Also, some of these panic sellers do get their information on social medias without verification, most at times "bitcoin is going zero or dying or going into extinction" hopefully they'll learn from the past.

These sellers need to do more of research then they'll get themselves familiarize with the cycle the market goes through. No market state last forever, the bull and bear is a cycle that the market goes through simultaneously. You panic selling isn't necessary and if they educate/stay informed they'll realized this. The market cycle is currently bullish and this won't be stopping anything soon.

The year might just turn out to be bullish for the industry, bitcoin is beginning to show some weakness although that shouldn't cause much panic as that's just a strategy to give room for alts to join in on the fun ride. After the altcoins season has been confirmed, bitcoin will continue her ride too. Anything that would make you sell now should be eliminated, as you won't take it likely on yourself when the profits comes in the future and you won't be a beneficiary.

[adaseb]

So the OP was correct and that instead of panicking you could of waited for the bounce, which went up all the way to $40K to sell instead of selling at the bottom at $30K. I think the reason why people are starting to turn negative is due all the FUD we are getting lately. There is the tether fud, last week was the MtGox coins supply hitting the market. Then there is always the fud about regulation since XRP got sued.

However institutionals like Grayscale keep buying and so do some funds which are staying quiet about it. Does it mean BTC can go down and break $30K, yes its possible. However the long term outlook is positive, no matter how bumpy the road is ahead. I think most people who use leverage are the ones which end up losing it all due to greed. Most is to just be spot long and like that you don;t have the risk of liquidation.