Bitcoin Breakout

[AmoreJaz]

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.

correction or not, people have the chance to make a decision whether to invest or not before we see the btc price going up again. as the probability of going to 50k is very high, it is high time to decide on whether to invest some of your extra funds to this market. don't wait too long, because the movement is quite fast. but of course, up to your capability here. don't listen to other's people opinions because it is your own instincts and financial capability that matters at the end of the day.

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[Devifajarina]

correction or not, people have the chance to make a decision whether to invest or not before we see the btc price going up again. as the probability of going to 50k is very high, it is high time to decide on whether to invest some of your extra funds to this market. don't wait too long, because the movement is quite fast. but of course, up to your capability here. don't listen to other's people opinions because it is your own instincts and financial capability that matters at the end of the day.

That's why we need to analyze separately regarding investment, because this investment is an absolute decision that we make, but it must be based on a good analysis and consider some of the risks that will arise in the future, bitcoin can be purchased under any conditions in my opinion, because bitcoin can increase very quickly at any given time, bitcoin's volatility is very good for now, so don't worry about buying it

[pooya87]

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?

Do you mean that the bitcoins I have been buying every since they were worth $200 are now dumped down to be $40,000. Oh no I lostgained +19900%

But in all seriousness, what you are talking about only concerns day traders who rely on making profit on short term swings and if they didn't sell above $60k they have been doing it wrong. And if they sold but didn't buy back at the bottom they are doing it even more wrong!
For the rest of us who are investing in bitcoin and believe in its long term potential while ignoring the short term silliness in the market, dropping down 50% means we can buy twice the amount of bitcoin we could before with the same amount of money.

Imagine that with all the inflation and everything you can only invest $100 from your paycheck into bitcoin. If price remained above $60k you could only buy 0.0016BTC but at a 50% discount you can buy 0.0033BTC which is a fantastic deal.

[bubidan.id]

It would be nice if you want to make a purchase in the break out zone, we wait for confirmation or we wait for the price to retest again at the broken support level. Do not rush to buy, it is to anticipate market manipulation. If there is confirmation that BTC is going up, then the next target will be testing the resistance zone at 50K.

[Kemarit]

It would be nice if you want to make a purchase in the break out zone, we wait for confirmation or we wait for the price to retest again at the broken support level. Do not rush to buy, it is to anticipate market manipulation. If there is confirmation that BTC is going up, then the next target will be testing the resistance zone at 50K.

But it's very difficult to time it and to know where in the dip so that we can buy a lot. So far the breakout is finished already, it's not fake break out but rather we may have reached it's top around $48,000. And now we are in a correction, although it's just the beginning of the month and many things can happen specially in the 2nd-3rd, so I will wait for that time frame and hopefully we can get into that $50,000 zone.

[Silberman]

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?

It depends, if you are a trader then this is something unacceptable, as it is going to be impossible for anyone to recover from such losses, at most you should lose 1% in each one of your trades, however if you are a long term investor and the asset which you have selected is solid then such a drop is within the acceptable range, I know that many people would flinch under such a drop but if you have being invested in the asset for the long term then most likely you could still be in profits despite such drop.

[tygeade]

It would be nice if you want to make a purchase in the break out zone, we wait for confirmation or we wait for the price to retest again at the broken support level. Do not rush to buy, it is to anticipate market manipulation. If there is confirmation that BTC is going up, then the next target will be testing the resistance zone at 50K.

But it's very difficult to time it and to know where in the dip so that we can buy a lot. So far the breakout is finished already, it's not fake break out but rather we may have reached it's top around $48,000. And now we are in a correction, although it's just the beginning of the month and many things can happen specially in the 2nd-3rd, so I will wait for that time frame and hopefully we can get into that $50,000 zone.

It's not, it's really not that hard to time it at all. When you see the price hit 68k, then drop to under 35k, you KNOW that it is a low price, you are 100% sure that it s a low price. We are talking about a 50% drop and you are not certain? Price reached from the top to 50% lower and at that point even if it is not "the bottom", like even if it could go down more, it is guaranteed that you are buying it a lot cheaper than you otherwise could during hyped days.

If you didn't, and if you missed out because you waited for even lower, that is on you but there were many of us who knew that the price would go up from there, even if it went lower at first, it would have been higher eventually and we bought it at that level.

[Zanab247]

The break out is a welcome development to those that exercise patience not to sell when the price of bitcoin was $38,000 than to hold to see a bright future.  Now that the price of bitcoin has break out to $46,000 few days ago for traders to get ready for Massive pumping that is about to take place in crypto trading for investors to start earning something good from the market. It will be difficult for bitcoin price to decrease in this period of profits making than to increase higher for traders to use the opportunity to recover all their losses they experienced last year December 2021.

[VikingMaster]

If you had gotten out at $60,000, you could have bought 4 times more at 30,000 (instead of twice more) with the same amount of money. Wouldn't that be nice?

[VikingMaster]

I am going to make a statement that is not particular to Bitcoin but particular to my 47 years of experience in the market (stock and commodities).

It is 'highly" unlikely that Bitcoin will reach $100,000 this year or even next. Some new things when they come out do have big moves (like Bitcoin did originally) but once the newness washes away (as it had done with Bitcoin), going up is normally done on a slow basis. There are no more surprises occurring and no more "rush" to buy Bitcoin. Going down is always fast on all occasions, but going up when the newness is over, it much like the pace of a turtle.

I have seen this happen thousands of times with stocks and even commodities and very very few times have I seen the opposite.

I was there when Gold went from $180 to $900 in a few years. When Silver went from $5 to $50 in a couple of years. When W went from $20 to $350, etc., etc., etc. None of them have ever done anything like that again. For Bitcoin to double in price (if and when it does), it will take a good 2-4 years for it to happen.

Get off that cloud and join the real world. The silver lining is gone now.

[Marvelman]

I was there when Gold went from $180 to $900 in a few years. When Silver went from $5 to $50 in a couple of years. When W went from $20 to $350, etc., etc., etc. None of them have ever done anything like that again. For Bitcoin to double in price (if and when it does), it will take a good 2-4 years for it to happen.

Question; Were you around when bitcoin went from $ 200 to $ 1200 in less than a month, or from $ 1200 to $ 19,500, or from $ 10,500 to $ 63k, etc., etc., etc.? You compare crypto with stocks and even commodities, and yet you admit that none of them have ever done anything like that again. Guess what, bitcoin did.

Get off that cloud and join the real world. The silver lining is gone now.

Sure thing, Mr. Schiff! 

[adzino]

Based on what are  you predicting all these? You should add facts or at least something to back your claims. Or else you are just randomly spitting numbers and saying that the price will go up. Everyone can do that. In fact most of those clickbait videos you watch on Youtube does the same. The market is very volatile and unpredictable. You can never accurately guess when the price will breakout or when it will start falling. If you invest based on those claims, then you will be risking yourself a lot. Instead, just keep on investing as much as you can afford to lose and hold for long term.

[STT]

Price is not getting weaker but it is constrained still hence I dont totally agree with the OP title of a breakout.  We defeated and outlasted the prior downtrend so on balance we recovered part of those losses, good news but its not over the fight continues and we are not yet free and clear just yet.



Heres roughly how I see progress and how I would assess potential for futher gains now and next week etc.   The blue and yellow lines are 2 day and weekly averages, generally good regular gains will come as we trend above those.

[Oilacris]

Based on what are  you predicting all these? You should add facts or at least something to back your claims. Or else you are just randomly spitting numbers and saying that the price will go up. Everyone can do that. In fact most of those clickbait videos you watch on Youtube does the same. The market is very volatile and unpredictable. You can never accurately guess when the price will breakout or when it will start falling. If you invest based on those claims, then you will be risking yourself a lot. Instead, just keep on investing as much as you can afford to lose and hold for long term.

With this very speculative market then you would really be finding out this would be totally no sense on trying to claim out something just on pure guess which is always been our behavior.

Its true that it would really be good if there would be some attached analysis on every price speculations which would really appealing to look at and not just some number guess and then
leave the others would the the rest.Of course the price is too unpredictable and there's no way nor precise thing that we could really predict on where price could go.

[RealMalatesta]

Based on what are  you predicting all these? You should add facts or at least something to back your claims. Or else you are just randomly spitting numbers and saying that the price will go up. Everyone can do that. In fact most of those clickbait videos you watch on Youtube does the same. The market is very volatile and unpredictable. You can never accurately guess when the price will breakout or when it will start falling. If you invest based on those claims, then you will be risking yourself a lot. Instead, just keep on investing as much as you can afford to lose and hold for long term.

That's mainly the charts. I do see it and it does say breakout, but doesn't mean that it will happen neither. I think these things show what it should do and the market has a good outlook and that is what people talk about. When you look at the charts, people are hyped and they are interested in buying as much as they possibly could, which shows up on these indicators as well.

This is why I believe that everyone is hoping for a huge break out. It could happen, nobody says it can't happen, it could definitely happen but then we need to figure out a way to make sure we are not upset if it doesn't happen. At that point stop loss is the way to go in order to protect yourself and still get in.

[pooya87]

I am going to make a statement that is not particular to Bitcoin but particular to my 47 years of experience in the market (stock and commodities).

Sorry to tell you this but your experience is useless in bitcoin market since there is very little similarities between the two.

It is 'highly" unlikely that Bitcoin will reach $100,000 this year or even next.

I can't predict things with the same certainty you do but all I know from my experience in bitcoin world ever since 2014 is that this statement has been made with a different number a thousand times. For example they said it is highly unlikely that bitcoin reaches $400 back in 2015 too and yet it not only did that but surpassed it by a lot.

Some new things when they come out do have big moves (like Bitcoin did originally) but once the newness washes away (as it had done with Bitcoin),

You are absolutely correct about 50% of it and absolutely wrong about the conclusion you are making.
The "big" rises eventually stop but not until the mass adoption is reached. You are wrong because so far the adoption bitcoin had has been very small. Don't be fooled by some big player buying millions of dollars, we still have a very small percentage of people who are even aware of bitcoin and even a smaller percentage of them who bought it.

Going down is always fast on all occasions,

This makes no sense at all.
If there is no "rush" to buy something, there is no logical explanation for there being a "rush" to sell it under normal circumstances.

I was there when Gold went from $180 to $900 in a few years. When Silver went from $5 to $50 in a couple of years. When W went from $20 to $350, etc., etc., etc. None of them have ever done anything like that again. For Bitcoin to double in price (if and when it does), it will take a good 2-4 years for it to happen.

You are ignoring a very important distinction. All the things you mentioned are purely for speculation. You don't buy gold or silver or W to use it for something, they have no utility apart from being an investment.
Bitcoin does.

[buwaytress]

You are ignoring a very important distinction. All the things you mentioned are purely for speculation. You don't buy gold or silver or W to use it for something, they have no utility apart from being an investment.
Bitcoin does.

The one thing people overlook indeed. Utility without access restriction.

And also why not everyone who claims they're buying gold or silver actually are. They're not stacking up bars and ingots, they're buying up certificates that say they own the metals tied to it. Worse, accounts in digital realms that have no way of proving they actually have that gold.

Of course, there are a lot of people buying Bitcoin like that -- usually the same ones buying gold without really requiring proof that they own what they think they do.

[Silberman]

It's not, it's really not that hard to time it at all. When you see the price hit 68k, then drop to under 35k, you KNOW that it is a low price, you are 100% sure that it s a low price. We are talking about a 50% drop and you are not certain? Price reached from the top to 50% lower and at that point even if it is not "the bottom", like even if it could go down more, it is guaranteed that you are buying it a lot cheaper than you otherwise could during hyped days.

If you didn't, and if you missed out because you waited for even lower, that is on you but there were many of us who knew that the price would go up from there, even if it went lower at first, it would have been higher eventually and we bought it at that level.

What happens is that people want to buy at the absolute bottom and without a doubt that can be difficult to time correctly, however buying when the price is way below its average price after a crash is relatively simple, in my opinion this is one of the best moments to buy as you will not find a better price when to do so, the only difficulty strives on being able to accept that maybe the price could keep going down after we buy and avoid panicking in the process.

[Ararbermas]

in my opinion this is one of the best moments to buy as you will not find a better price when to do so, the only difficulty strives on being able to accept that maybe the price could keep going down after we buy and avoid panicking in the process.

then enter after the retest or when there's already a confirmation that bitcoin is totally in bulish situation, i mean at least after 1 or 2 green candle stick before entering to prevent fake outs. Actually sometimes i used that strategy but on this situation we need to use a higher time frame IMO if we really have doubts and afraid of false break out, infact buying at such level isn't late tho, so probably a good idea..

[STT]

Definitely suffering a retraction right now with price trading below the monthly average.   See if we can maintain the 50 day average as the boundary, top prices were marked alongside the 200 day average.
  It wont breakout till we not only clear and above such averages but the momentum of gains means those averages are all trending upwards.  Observe all the other times this was true