Bitcoin Breakout

[Oceat]

The month of April is always been bullish according to past years. Also, we have seen a long-lasting bearish market for more than 150 days so a relief bounce was inevitable. But to be a confirmed breakout BTC needs to stay above 45k for some time. This is one of the psychological zones that many traders are waiting for to be broken so that the market turns bullish.

If that's what going to happen but it seems that traders won't risk to hodl and wait till Bitcoin touch the $50k. The market is in bear but we might seem to feel it this way since the market looks like bullish with a slight of pump but that's just it. And I agree that we just need a little longer days of price staying at $45k then we might expect a break through $50k or even more. But for now, it might look temporary to me since the hype of conflict between Russia and Ukraine seems a bit odd.

[VikingMaster]

Here is the 1-year weekly closing chart (Sunday's at 12:00 pm). Intraweek moves above or below those levels are meaningless to this chart. This chart shows the area (between the resistance and support lines) where Bitcoin is likely to trade for the next 1-3 months............unless new news comes out.

http://theoasisclub.net/Bitcoin1year.jpg

[Dave1]

Here is the 1-year weekly closing chart (Sunday's at 12:00 pm). Intraweek moves above or below those levels are meaningless to this chart. This chart shows the area (between the resistance and support lines) where Bitcoin is likely to trade for the next 1-3 months............unless new news comes out.

http://theoasisclub.net/Bitcoin1year.jpg

Yeah and that is the problem, we really don't know if some news will come out in the next 3 months that will change the movement of the price.

It could be positive or negative, so it's better to still observe and be cautious of our trading strategy as the price won't go on parabolic rise. It could be a long and hard grind for us and we could be hitting $60k in the next 1-3 months so we will see.

[Fundamentals Of]

Breakouts have been happening in the past few hours and days. There is almost a hundred percent guaranteed possibility that the price will be reaching $50,000 in the coming days, perhaps even before March comes to a close. The price has corrected a bit after reaching $48,000 but there is no reason to believe that the rally is over. It seems the correction has now reached the bottom and the bounce is already starting to happen. This resumption might be the rally that will finally break $50,000. This is exciting!

[Dhaniii]

Here is the 1-year weekly closing chart (Sunday's at 12:00 pm). Intraweek moves above or below those levels are meaningless to this chart. This chart shows the area (between the resistance and support lines) where Bitcoin is likely to trade for the next 1-3 months............unless new news comes out.

http://theoasisclub.net/Bitcoin1year.jpg

Yeah and that is the problem, we really don't know if some news will come out in the next 3 months that will change the movement of the price.

It could be positive or negative, so it's better to still observe and be cautious of our trading strategy as the price won't go on parabolic rise. It could be a long and hard grind for us and we could be hitting $60k in the next 1-3 months so we will see.

Bitcoin movements are confusing because the news we read varies so that it has an impact on bitcoin market movements. the market is currently in a holding phase at between $42k to $47k and will be in the spotlight for the next move, will bitcoin fall again or bounce sharply. many investors are worried about a market like this.

[maydna]

Breakouts have been happening in the past few hours and days. There is almost a hundred percent guaranteed possibility that the price will be reaching $50,000 in the coming days, perhaps even before March comes to a close. The price has corrected a bit after reaching $48,000 but there is no reason to believe that the rally is over. It seems the correction has now reached the bottom and the bounce is already starting to happen. This resumption might be the rally that will finally break $50,000. This is exciting!

The rally is not over yet and will continue, and hopefully, what you wish for can happen before the end of this month. Now is the time for a correction that could hold the price up to and back to the $48k level. If today or tomorrow, the price can go back up and even touch $48k again, there is a possibility that next month, the price can get another rally. Yes, this is fun because we can see the highest price again this year, and hopefully, next month and beyond, the price can return to the last ATH.

[VikingMaster]

"we really don't know if some news will come out in the next 3 months that will change the movement of the price.

It could be positive or negative, so it's better to still observe and be cautious of our trading strategy as the price won't go on parabolic rise. "

This statement can be said about everything in the market. It is NOT a reason to not trade.

One mistake everyone makes is to think that trading has to be about being "right or wrong". No one likes to be wrong and lose. It hits the ego we all have and it hits our pocketbook. What needs to be the main idea is not about being right or wrong but about making more money than you lose. Everyone is going to have a loser at one point or another. It is part of investing. What needs to be done is have a game plan where you determine an intelligent entry price, have a level predetermined where the product will become negative (even for a short term basis) and if that level gets broken you take the loss. By the same token, also have an upside objective that is realistic and likely to be reached and make the determination that what you are trying to make versus what you are risking is 4 times more (at least) to what you are risking...........all based on support and resistance levels that you know will be supported and sold at (like with Bitcoin at 42,000 and at 50,000.

Let me explain, enter Bitcoin near the 42,000 level and put a stop loss at 40,000 using the 50,000 level as the objective. In this way, you are looking to make 4 times more than what you are risking. If stopped out, take the loss and look for the next support level where you can buy it and do the same chart determination.

By doing this, you can be wrong as much as 80% of the time (unlikely) and still break even. Waiting for some kind of assurance that the trade is going to work, normally means you are getting in at a high price where the risk is much more than the profit potential and that is never a good trading strategy. You know the adage about "buying low and selling high"

Given that "anything can happen at any time" fundamentally, this strategy is what will increase your probabilities of "making more money than you lose". It is "exactly" what the traders do.

[VikingMaster]

Your approach is fundamentally oriented and if you get married to an idea and the idea does not work out for whatever reason, you will take a big loss.

Traders, computers and algorithms do not look at the fundamentals. They trade with the idea of limiting risk so they are never put in a positions where they have to make decisions based on money available.

If you buy at 42,000 and get out at 40,000, it suggests it is going to 35,000 (or lower). As such, you get out at 40,000 and rebuy at 35,000 and you have prevented the account from being down 5,000 extra dollars.

Doing this, allows you to be as aggressive (or more) at the lower levels. You don't have to worry about the fact the portfolio may be down an additional 10% in value.

With this type of mentality, if you buy at 42,000 and get out at 50,000 and it goes back to 42,000 again, you are now $6,000 richer and can buy even more.

[alisonwonder]

Your approach is fundamentally oriented and if you get married to an idea and the idea does not work out for whatever reason, you will take a big loss.

Traders, computers and algorithms do not look at the fundamentals. They trade with the idea of limiting risk so they are never put in a positions where they have to make decisions based on money available.

If you buy at 42,000 and get out at 40,000, it suggests it is going to 35,000 (or lower). As such, you get out at 40,000 and rebuy at 35,000 and you have prevented the account from being down 5,000 extra dollars.

Doing this, allows you to be as aggressive (or more) at the lower levels. You don't have to worry about the fact the portfolio may be down an additional 10% in value.

With this type of mentality, if you buy at 42,000 and get out at 50,000 and it goes back to 42,000 again, you are now $6,000 richer and can buy even more.

Your solution is good but at least we have a perception in making choices, meaning we only buy 50% and the remaining 50% we will buy at the lowest price behind our main purchase. In this context we will not lose the percentage value in our portfolio because we enter gradually at different prices so it will be more appropriate for us to climb the ladder one by one.

[Johnyz]

Let me explain, enter Bitcoin near the 42,000 level and put a stop loss at 40,000 using the 50,000 level as the objective. In this way, you are looking to make 4 times more than what you are risking. If stopped out, take the loss and look for the next support level where you can buy it and do the same chart determination.

You can use another method. If you bought at $42 000 and the price went lower, just buy more, thereby increasing the number of purchased bitcoins and averaging the cost of your purchase. If the price goes up, then you can gradually sell the asset using the ladder method and place new buy orders.

I sincerely don’t understand why sell at a loss such a deflationary asset like bitcoin, which has always been growing historically, especially if we are talking about the spot market. Speculative trading with stops is the best way to lose your entire deposit.

Cost averaging is another method, and cutting your losses is also a good strategy.
If Bitcoin able to hit the price of $50k, that could be another bull run and if the price goes back to $45k again, it could be a correction which is another opportunity to buy again. There can be more scenario here, just keep watching so you can be ready for your next move.

[ultrloa]

Your approach is fundamentally oriented and if you get married to an idea and the idea does not work out for whatever reason, you will take a big loss.

Traders, computers and algorithms do not look at the fundamentals. They trade with the idea of limiting risk so they are never put in a positions where they have to make decisions based on money available.

If you buy at 42,000 and get out at 40,000, it suggests it is going to 35,000 (or lower). As such, you get out at 40,000 and rebuy at 35,000 and you have prevented the account from being down 5,000 extra dollars.

Doing this, allows you to be as aggressive (or more) at the lower levels. You don't have to worry about the fact the portfolio may be down an additional 10% in value.

With this type of mentality, if you buy at 42,000 and get out at 50,000 and it goes back to 42,000 again, you are now $6,000 richer and can buy even more.

Your solution is good but at least we have a perception in making choices, meaning we only buy 50% and the remaining 50% we will buy at the lowest price behind our main purchase. In this context we will not lose the percentage value in our portfolio because we enter gradually at different prices so it will be more appropriate for us to climb the ladder one by one.

If we bought at the top we can also adopt that option if we really need to take position since its really a big stress for us not taking any action when there's dip came and doing cut loss is one of the best solution to save up our portfolio. It's up to you to decide on what percentage you can afford since if you are a risk taker then do it 100% but if not then what you suggest guys which is 50%.

We have different preferences about this so I guess we will have different opinion unto this.

[VikingMaster]

One question to all.

Did anyone of you get out of your positions above 60,000? If not, you saw your portfolio drop 50% in value. Is allowing the portfolio to drop 50% in value a good overall strategy?

[sayaya17]

Let me explain, enter Bitcoin near the 42,000 level and put a stop loss at 40,000 using the 50,000 level as the objective. In this way, you are looking to make 4 times more than what you are risking. If stopped out, take the loss and look for the next support level where you can buy it and do the same chart determination.

You can use another method. If you bought at $42 000 and the price went lower, just buy more, thereby increasing the number of purchased bitcoins and averaging the cost of your purchase. If the price goes up, then you can gradually sell the asset using the ladder method and place new buy orders.

I sincerely don’t understand why sell at a loss such a deflationary asset like bitcoin, which has always been growing historically, especially if we are talking about the spot market. Speculative trading with stops is the best way to lose your entire deposit.

Cost averaging is another method, and cutting your losses is also a good strategy.
If Bitcoin able to hit the price of $50k, that could be another bull run and if the price goes back to $45k again, it could be a correction which is another opportunity to buy again. There can be more scenario here, just keep watching so you can be ready for your next move.

Actually, everyone has their own methods and strategies to be able to make a profit when investing in Bitcoin. So if there is a trader who makes
a cut loss when the Bitcoin price drops, it's probably he doesn't want to experience a bigger loss, and maybe for the trader it can be easier to cover
the losses they experience. This means that doing a cut-loss can be a good strategy if they plan well too.

But because Bitcoin is a safe asset in my opinion. Where the price tends to continue to rise in the long term, so for investing in Bitcoin I prefer
a gradual buying and selling strategy. I think the most important thing when deciding to invest in Bitcoin we really have to be patient,
because making a profit from Bitcoin can not be instant. Therefore Bitcoin is very good as a long-term investment, meaning we don't need to rush
to sell our Bitcoins if the price drops. Although our asset estimates appear to be declining, but as long as we don't sell it we haven't suffered a loss.

Conclusion let's appreciate different strategies and methods with ours, because everyone is free to use the method he finds effective. I agree that
for now we need to monitor Bitcoin movements first, because Bitcoin movements are still difficult to predict. We don't know after rising above
the $45k price, the Bitcoin price will continue to rise to the $50k price, or even go back down again. We must always remain vigilant and be prepared
to take the decisions we think are good based on Bitcoin price movements.

[Fundamentals Of]

One question to all.

Did anyone of you get out of your positions above 60,000? If not, you saw your portfolio drop 50% in value. Is allowing the portfolio to drop 50% in value a good overall strategy?

Not me, I didn't make a sell above $60,000. At that time, I was really convinced that the price of Bitcoin would finally hit $100,000. I really believed that a six-figure price would be happening in that year 2021. Of course we all know I was wrong but I didn't really regret having hodled my Bitcoin. Of course it would have been better had I sold near the ATH and bought back at $30,000 plus, but I don't really sell simply because an ATH is reached.

Don't worry about a drop in paper value. It will surely rise again. A new ATH is incoming.

[tintingp]

I agree with you that Bitcoin is now in its current state and will cross $50k in the next few days.bI am very optimistic and hope this is what will happen. If you notice this too, you will understand that the price of all other coins is going up a lot. This means we hope to see a better breakout in a few days.

[Devifajarina]

Bitcoin is in the process of generating a breakout today (Sunday). A close today above 44569 will be the highest close in over 2 months and will break a triple top that has been built during this time in that area. Bitcoin is presently trading at 46667 at 7:00pm Sunday. The next resistance area is at the 50,000 level. Nonetheless, this breakout is a signal that the downtrend is over, meaning that now the bulls can buy with more confidence.

Market conditions are almost completely back on the green path, but we need to be careful with conditions like this, to make a purchase, I think at the time of correction it can also be done for bitcoin, because as we know, the recovery process for bitcoin will definitely happen, the difference is that for now we don't need to be worried anymore in making purchases, but actually purchases of bitcoin can be done anytime

[Emitdama]

The rally is not over yet and will continue, and hopefully, what you wish for can happen before the end of this month. Now is the time for a correction that could hold the price up to and back to the $48k level. If today or tomorrow, the price can go back up and even touch $48k again, there is a possibility that next month, the price can get another rally. Yes, this is fun because we can see the highest price again this year, and hopefully, next month and beyond, the price can return to the last ATH.

I agree, we have seen this last time around when the price failed to break 20k for many times in a row, went closer and went down and repeated that in cycles. However, it eventually cracked above that and reached 64k as we all know it. We could be in the same situation right now as well, we could be failing to go above 50k right now, fail to do that in repeat a few times, but then we could break above that and reach to a new all time high again.

I am not sure why people are s pessimistic about the price of bitcoin so early. We barely got from 42k to 47k levels, it is not a time to stop and we should be looking for a lot higher before we consider the next crash.

[Reatim]

One question to all.

Did anyone of you get out of your positions above 60,000? If not, you saw your portfolio drop 50% in value. Is allowing the portfolio to drop 50% in value a good overall strategy?

if you know what strategy and risk you are entering then there is no problem losing 50% because in long run this is still profitable.

Like those who hold their Folio from 2017? when the price of Bitcoin climbed up almost 20k and then 2018 drops more than 50% but look how much increased after 4 years?

if you are for long term holding then you know what are you dealing here.

[TravelMug]

I agree with you that Bitcoin is now in its current state and will cross $50k in the next few days.bI am very optimistic and hope this is what will happen. If you notice this too, you will understand that the price of all other coins is going up a lot. This means we hope to see a better breakout in a few days.

I don't know, bitcoin price is getting weaker, I think the most that the we can get in. this run is $48k. Because after we touch that, the price simply goes down a bit for now, at lower $47k.

So I guess the breakout could have been hit a wall now, maybe temporarily. But still good to at least see the price going above $45k and hopefully we can maintain it all along in April as usually April is not a good month for us.

[Kelvinid]

I agree with you that Bitcoin is now in its current state and will cross $50k in the next few days.bI am very optimistic and hope this is what will happen. If you notice this too, you will understand that the price of all other coins is going up a lot. This means we hope to see a better breakout in a few days.

I don't know, bitcoin price is getting weaker, I think the most that the we can get in. this run is $48k. Because after we touch that, the price simply goes down a bit for now, at lower $47k.

So I guess the breakout could have been hit a wall now, maybe temporarily. But still good to at least see the price going above $45k and hopefully we can maintain it all along in April as usually April is not a good month for us.

it remains on volatility, we'd see the price of Bitcoin at $47k but now, a correction been occurred and down to $45k upon checking recently (not an April fool I think). It is way not to see a stable price rise but hoping this 2nd quarter could be seeing such a consistent uptrend motion. I've been predicting Bitcoin to reach back $50k this 1st semester and I really see the positive look in the market.

Well, it seems that April is not good as corrections come but this can be a way to give to those who want to invest.