Smart to sell at a loss in anticipation?

[Carra23]

Probably would not advise you to sell now. But I did sell above 500 as it was clearly struggling there.

If there is a bounce up next week and goes close to 600 then you can sell.

[1714676685]

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[hellscabane]

Bounces are common in this realm. I wouldn't try selling in an attempt to regain losses. Although, if the price does dip as low as you anticipate, it gives a reason to buy more. And in the case that it does balance off at $500 after that dip, your losses would be balanced. (Assuming you both bought an equal amount at $400 and $600.)

[MatTheCat]

Not a good time at all, from a day traders point of view. the panic sellers have just been, now it's up or sideways for some time. think about it.

As rational as this sounds, I would suggest that there is a clear bear pennant being formed on the Bitcoin chart, although the OP certainly has a dilemma on his hands. 9/10 times, when I have made a bum trade and covered my losses, Bitcoin has always at some point in the future provided an opportunity that would have allowed me to either break even or indeed take a large profit. However, the longer Bitcoin trends along in this sub $530 range, on low volume, the more likely that when the volume picks up again, it is going to be of the sell-off variety, especially considering the China situation where there are still clearly many trading in CNY who for some reason don't feel threatened by the rumours of the PBOCs 15th April stance on CNY exchanges, yet!

TA 101 is pointing to more downside after this bear flag/pennant completes.

The fundamentals are looking scary with the PBOC rumours.

Anyone who is feeling bullish right now is relying on some kind of X-Factor, such as in early March when some seemingly lone investor turned up on Bitstamp with tens of millions USD at his disposal and started placing 3K Bid orders right at the spot price resulting in an avalanche of panic buying. If I was the OP, I would be watching the markets like a hawk right now, especially Huobi where any great sell off pressure is likely to occur first. I would be watching closely for Bitcoin to test the $530-$550 range. If it can break beyond here then he might be able to get out with even money. If it gets up to this range, or anywhere below this and behaves decidedly weak, or is met with huge selling pressure, then he may want to consider cutting his losses around here. If we break below $460, then this sucker is going to go down fkn hard and will very likely break below $380-$400, which would of course make the whole Dec 2013 - April 2014 period into one giant descending bear triangle, with a floor being formed in $380 - $400 range, and subesequently broken! In such a situation, the basement really would be the limit for Bitcoin.

[Bit_Happy]

It's safer to hold now, and buy more if it hits $400.

True, there is a whole bunch of good news all over the place.

[arepo]

It's safer to hold now, and buy more if it hits $400.

True, there is a whole bunch of good news all over the place.

this is very reassuring

[rm1023]

We are at the bottom.  It might dip to 450 or even 400, but I doubt much less.  2x last previous ATH is how it has normally stabilized and then it pops after a while to a new ATH.  I give it 8 months or so hit a new ATH.  

[m3g4tr0n]

It's very tempting and very risky. If a dip that size were to happen, you could increase your holdings for free. If the dip doesn't happen, you will regret it for years. I will be looking for ways to save a bunch of fiat offline in anticipation of another big drop. What do you own besides BTC that could be sold at fair value? An extra car or something? Look at the 15m graph for BTC/CNY on OKcoin. The volume is gone. All the panic selling is over. You would need some kind of assurance that Chinese MSM will do a major story about the confirmed ban of BTC in China, no questions, just a solid NO from the Chinese PTB. I'm disappointed in my own timing because I sold all my LTC at 16.9 and bought back at 16.3, just a few hours before the red waterfall to 12.3 (FML).  Right now, predicting which way it will go seems harder than ever. The short term seems oddly stable at 500, so I wouldn't risk it.

[anu]

All technical and news relating to the Chinese have been pointing at btc easily reaching $400 or less. I have bought coins at an average of like $600 so I just wanted to hear the opinions of whether its not a bad idea to sell now and buy back more when it hits $400 or less.

Sure it is smart if the price goes down further. OTOH I know someone who sold @ 63 in July for the same reason, almost exactly hitting the low. I for one know that I'd bend over backwards and bite my own balls off if I miss the next rally just because I could not resist gambling for some change.

In addition, gambling for change is taxable. Hodling is not in many jurisdictions.

[Sawadekub]

21st march.. btcCHINA ceo said that china did not really ban bitcoin..

dude use your brains... u think huobi ceo + litecoin CEO + btcchina CEO do not have friends from the goverment?

of course they do.. so do u think they will have the news first or the corrupted reporters that will report for $ that tells the truth??


its like if your the MANAGER if there is any news.. do u think the director of your department will tell the manager first or your staff or your cleaner?

of course your manager will know first, not your mum or dad !!

wake up.. use some IQ please.. of course the damn bloody news is fake...ITS A FUD.. so dont get FK up by a FUD...

[Sawadekub]

21st march.. btcCHINA ceo said that china did not really ban bitcoin..

dude use your brains... u think huobi ceo + litecoin CEO + btcchina CEO do not have friends from the goverment?

of course they do.. so do u think they will have the news first or the corrupted reporters that will report for $ that tells the truth??


its like if your the MANAGER if there is any news.. do u think the director of your department will tell the manager first or your staff or your cleaner?

of course your manager will know first, not your mum or dad !!

wake up.. use some IQ please.. of course the damn bloody news is fake...ITS A FUD.. so dont get FK up by a FUD...

I take it you bought in high, as you are copy pasting this panic message in multiple topics?

not really high... i bought low before when mtgox crash and haven sell them.. ^^ just feel that its time wasting

[gizmoh]

Once this persistent rumor is confirmed, Its gonna get really ugly when bulls ( knife-catchers) and hodlers panic and capitulate as it pops.
Sheer Panic and unreal prices is not excluded in the coming weeks..

[igorr]

It's safer to hold now, and buy more if it hits $400.

The longer you hold, you are more at a loss.

Trend and price before 1 month:


Trend and price today, It not look good, the price follows the trend


See you again within a month with trend lines and current price.

[toxic0n]

Lol Igorr, you posted the exact same message in multiple threads.
I get that you are depending on bitcoin price collapse so you can make money, but can you restrict your "analysis" to one thread? It's really annoying and you are convincing no one

[igorr]

Lol Igorr, you posted the exact same message in multiple threads.
I get that you are depending on bitcoin price collapse so you can make money, but can you restrict your "analysis" to one thread? It's really annoying and you are convincing no one

Obviously, you fear is that people see this 

[segeln]

Lol Igorr, you posted the exact same message in multiple threads.
I get that you are depending on bitcoin price collapse so you can make money, but can you restrict your "analysis" to one thread? It's really annoying and you are convincing no one

Obviously, you fear is that people see this 

igorr,the king of trolling

[igorr]

Lol Igorr, you posted the exact same message in multiple threads.
I get that you are depending on bitcoin price collapse so you can make money, but can you restrict your "analysis" to one thread? It's really annoying and you are convincing no one

Obviously, you fear is that people see this 

igorr,the king of trolling

Then please just buy,  give all your money for bitcoin, much buy.
Sell your house and everything and invest in bitcoin.

[toxic0n]

Lol Igorr, you posted the exact same message in multiple threads.
I get that you are depending on bitcoin price collapse so you can make money, but can you restrict your "analysis" to one thread? It's really annoying and you are convincing no one

Obviously, you fear is that people see this 

What? I have nothing to gain from spreading lies. I barely own any bitcoins and not planning on speculating.
You have money to make from spreading fear. I get it. Just be less transparent and annoying about it, please. You are about as subtle as the propaganda on Russian news   

[Bit_Happy]

Once this persistent rumor is confirmed, Its gonna get really ugly when bulls ( knife-catchers) and hodlers panic and capitulate as it pops.
Sheer Panic and unreal prices is not excluded in the coming weeks..

It is possible you are very wrong.
The China story is getting old, and being replaced by good news.
People in Denmark can buy the cheaper BTC (on non-Chinese exchanges), and legally pay no taxes on the profits.

[igorr]

Lol Igorr, you posted the exact same message in multiple threads.
I get that you are depending on bitcoin price collapse so you can make money, but can you restrict your "analysis" to one thread? It's really annoying and you are convincing no one

Obviously, you fear is that people see this 

What? I have nothing to gain from spreading lies. I barely own any bitcoins and not planning on speculating.
You have money to make from spreading fear. I get it. Just be less transparent and annoying about it, please. You are about as subtle as the propaganda on Russian news   

Then, let the people yourself assessing whether these are lies or not.

[toxic0n]

Lol Igorr, you posted the exact same message in multiple threads.
I get that you are depending on bitcoin price collapse so you can make money, but can you restrict your "analysis" to one thread? It's really annoying and you are convincing no one

Obviously, you fear is that people see this 

What? I have nothing to gain from spreading lies. I barely own any bitcoins and not planning on speculating.
You have money to make from spreading fear. I get it. Just be less transparent and annoying about it, please. You are about as subtle as the propaganda on Russian news   

Then, let the people yourself assessing whether these are lies or not.

Lol, I'm sure they can since I don't see anyone buying your FUD. Just stop spamming every thread, you already have your own thread to tell stories.