What are your TAUGHT on Bitcoin move?

[Emmanuel_Pounds]

What is your opinion about BTC move?. I have an open order for long on my Bingx account around $56k

I don't know if there will be a reversal to that zone, but am waiting patiently

[Charles-Tim]

It is good to be patient. Leave the order for days or weeks and see if bitcoin could get to that price again. Definitely bitcoin will fall below $56000 but I do not know when that can happen.

But you can also DCA instead. Just buy bitcoin weekly. Or you can buy little amount now and leave the order open for the second buy and so on.

[BitMaxz]

No one knows what will the next price movement of Bitcoin but according to the chart it still not yet touching to its resistance around $69k this is just my own prediction.
However, if you bought this from $56k then you already made a profit just make sure to secure your capital or secure a bit of profit by adjusting the stop-loss anytime the market changes it might fall or after a day the price might surge and hit $69k as what we expected. So you need a management risk to insure the profit and minimize the risk.

Why not check Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Zaguru12]

OP this thread will have been better suited for the trading discussion board

However, if you bought this from $56k then you already made a profit just make sure to secure your capital or secure a bit of profit by adjusting the stop-loss anytime the market changes it might fall or after a day the price might surge and hit $69k as what we expected. So you need a management risk to insure the profit and minimize the risk.

I don’t think OP has actually bought anything because the thread say he has an open order at that region which I believe is definitely yet to trigger and he wants to know maybe it will be good to wait or cancel his limit order at the region.

For me that’s a very good region OP because if you look at the chart on a daily time frame you will notice a very good order block at $56,680 region plus a fair value gap that I think will definitely come get filled. Although the Zone had already been tapped before making it not to be that so strong and when the market reserve would be also coming for the liquidity below it. My personal opinion is leave the position open and check the market structure of the market when the market structure gets more bullish over The days I will advice you cancel the order because the time it will be reversing it could even come for your stop loss of it is anything Above $50k

[JeffBrad12]

It definitely could since BTC has the history of reaching as low as $49k but since the buy order and liquidity are still abundant, I expect price to be doing sideways around $57k-63k.
a good price swing for high leverage if you ask me.



so many long contract still there, I think the support around $59-60k is gonna be quite resilient at least for maybe few days.

[tabas]

What is your opinion about BTC move?. I have an open order for long on my Bingx account around $56k

I don't know if there will be a reversal to that zone, but am waiting patiently

If you are doing futures and you haven't done any analysis, if this is a case for you then you better close that order and stick to the spot market. No one knows what's next if the thing that you're trying to spot or guess is about the short term. Most of us here are positive for the upcoming months that BTC is no doubt will have its reversal after it has plummeted a lot. But seeing it stay on $60k is still considered as a good sign that we're having a good day. So, if you're waiting patiently, just keep on waiting because even us we're also waiting for that day until Bitcoin hits new ATH on this cycle. It could after a few months, next year, we don't know.

[pooya87]

Definitely bitcoin will fall below $56000 but I do not know when that can happen.

What a strange level of confidence. Generally speaking I'd say bitcoin market is unpredictable, at times like this when we are getting out of a dip already the market becomes even more unpredictable specially since it has been showing signs of recovery rather than a drop (generally rising since Aug 5).

I'd say unless the events of first week of August repeat, the chances of such a drop are low.

[Beparanf]

Definitely bitcoin will fall below $56000 but I do not know when that can happen.

What a strange level of confidence. Generally speaking I'd say bitcoin market is unpredictable, at times like this when we are getting out of a dip already the market becomes even more unpredictable specially since it has been showing signs of recovery rather than a drop (generally rising since Aug 5).

I'd say unless the events of first week of August repeat, the chances of such a drop are low.

The US politics influence strongly the movement of Bitcoin price. The recent recovery is probably due to RFK withdrawal since he joined Trump with his campaign which many Bitcoin users consider as the future backer once he won as President.

On the other hand, Bitcoin experience a minor price decrease when Trump winning rate slightly decreased due to his competitor Kamala Harris strong influence in the election that can possibly beat her. Right now Bitcoin price is always attached with whatever the winning condition of Trump. Lol

[OgNasty]

I think Bitcoin is building momentum to smash through previous highs and into price discovery. I think this is going to happen fast and soon. There’s a ton of positive news hitting markets over the next couple weeks and I think it’ll be enough to send us spyware before the end of the year. I wouldn’t want to be watching from the sidelines.

[Distinctin]

It is good to be patient. Leave the order for days or weeks and see if bitcoin could get to that price again. Definitely bitcoin will fall below $56000 but I do not know when that can happen.

But you can also DCA instead. Just buy bitcoin weekly. Or you can buy little amount now and leave the order open for the second buy and so on.

Precisely. No one can tell when we are going to see btc price again reaching another dip but that's never a problem , patience is the key. For now, if you are really eager to increase your btc amount, then do DCA. Regardless of the current price, do DCA instead by reserving some spare money so you can buy additional bitcoin. If you can buy bitcoin consistently whenever you have extra money, in the long run you will definitely reach a sufficient amount of bitcoin without putting pressures on your funds.

[SamReomo]

What is your opinion about BTC move?. I have an open order for long on my Bingx account around $56k

I don't know if there will be a reversal to that zone, but am waiting patiently

No one actually knows that Bitcoin will go down to $56k again or not but I think there's some chance to see another drop in the month of September. And, if that drop takes place then that would be the last price correction of this year because in October to December we may see Bitcoin at $70k or above it.

I suggest you to keep your order open and if somehow Bitcoin goes back to $56k or below it then you'll surely make profit by holding your position for some months. I'm among those optimistic people who believe that Bitcoin will cross $100k or at least reach $100k in this bull run and that's why I'll always suggest you to hold your position and not sell it below $80k if you want some good profits.

[Republikcoin.com]

What is your opinion about BTC move?. I have an open order for long on my Bingx account around $56k

I don't know if there will be a reversal to that zone, but am waiting patiently

It seems that you should be more patient to wait for a price that big if you made an order three days ago, because currently Bitcoin is starting to hold at the $64K price level although there is no guarantee that it will continue to hold at that level for long. But for now I don't think Bitcoin will go back below $60K if the resistance level at $64K continues until the end of this month, but you also don't need to make any other decisions as long as you are still very patient to wait for a price like that to be seen again in the market.

[mich]

Well I do not think we are going to see this price 56k for a long time now. I do think we are going to start a 'bull run' before there is an other 'bear run'.
And now price is 64k it is up more then 7 percent in this last 24 hours. I think we are going to see some 'bullish' moves that will be coming for us soon.

[Ricardo11]

bitcoin has shown some improvement in the last 1 week, it has increased by 7.7% in the last 1 week, and is currently worth 64K. If bitcoin can cross 68K to 70K within this month then we expect to see a good pump after that. Now let's see if it stays 64K+ this month.

[asriloni]

What is your opinion about BTC move?. I have an open order for long on my Bingx account around $56k

It seems impossible to go down to that range. We have strong support. But, we might drop to the 60k - 58k range. It's weird if you're opening a long order at 56k. If you believe it's going to happen, why not put in a short order first?

Bitcoin ideally will hit 67k first before it starts to do a reversal trend. I think putting a short order above 67k looks good.

I don't know if there will be a reversal to that zone, but am waiting patiently

The reversal is always happening. But, we don't know if it will hit your position.

[avp2306]

What is your opinion about BTC move?. I have an open order for long on my Bingx account around $56k

I don't know if there will be a reversal to that zone, but am waiting patiently

It seems that you should be more patient to wait for a price that big if you made an order three days ago, because currently Bitcoin is starting to hold at the $64K price level although there is no guarantee that it will continue to hold at that level for long. But for now I don't think Bitcoin will go back below $60K if the resistance level at $64K continues until the end of this month, but you also don't need to make any other decisions as long as you are still very patient to wait for a price like that to be seen again in the market.

Good to listen to people advice but if he's still not sure about everything he do and just doubting about many possibilities then maybe he should secure his profit if he's ready to do it and satisfied with current profit what he got. 

But if he could able to hold and don't have any blaming to someone when they lose issue then he should try to gain more from current bullish movement currently what bitcoin experiencing. Everything goes fine with those people who have long patience and with bitcoin this attitude is what we actually needed.

[pooya87]

The recent recovery is probably due to RFK withdrawal since he joined Trump with his campaign which many Bitcoin users consider as the future backer once he won as President.

Charts tell a different story.
Price got dumped down to $49k on August 5. Then the recovery started just as fast as the dump and price was $62k in 3 days by August 8. Then there is a little side way action and a correction for a couple of days before the rise resumes and now we are sitting at $63k.

When did RFK drop out? Yesterday (August 24)?

[legendbtc]

What is your opinion about BTC move?. I have an open order for long on my Bingx account around $56k

It seems impossible to go down to that range. We have strong support. But, we might drop to the 60k - 58k range. It's weird if you're opening a long order at 56k. If you believe it's going to happen, why not put in a short order first?

Bitcoin ideally will hit 67k first before it starts to do a reversal trend. I think putting a short order above 67k looks good.

I don't know if there will be a reversal to that zone, but am waiting patiently

The reversal is always happening. But, we don't know if it will hit your position.

We have no basis to guarantee that the bitcoin price will not drop to $56k. The lesson is still there, I remember a few weeks ago when bitcoin was trading above $60k and people were saying that bitcoin had a very strong resistance level that could not fall below $50k. But then Bitcoin dropped to $49kand suddenly spiked back up shortly after.  

Personally, I think staying away from leveraged trading is the wisest move right now instead of opening long/short orders and thinking we will make a profit. If you believe history will repeat itself, the bull season is coming, then try not to lose all your money before the bull season comes.

[darkangel11]

IMO OP does not understand what opening a long means. When you set a buy order at 56k it's not equal to opening a long and the way I understand this post is OP is waiting for price to go back to 56 for his buy to fill. This is not a long, just a buy order. You can have buy set at many different levels and you're not losing anything by doing it, apart from the ability to spend your money elsewhere.
When you don't own any bitcoin, setting buys is pretty counterproductive because to profit from the market you have to participate. Having a buy order without owning any assets is boring.

[Odusko]

What is your opinion about BTC move?. I have an open order for long on my Bingx account around $56k

I don't know if there will be a reversal to that zone, but am waiting patiently

I lost my position because of greed three days back when I went on long with the entry p4ice of bitcoin at 60k and when the price reach 62k I closed the position, and bitcoin continue to rise in price until it get to 64k+ right now, so for sure patients is very important at this point in time, because you have already taken the risk and regardless of what it is right now, waiting is much more important, because I can see that bitcoin target is to reach at least 70k price before any possible correction will happen, and if that happened it means another entry opportunity for some of us, I don't know when that will happens but certainly it will because when it comes to bitcoin, there is no way we can expect a steady one side price movements in the market, at some point when the price goes up, it definitely correct to touch down again and same cycle repeats itself all the time.

Leaving your current position is best for your long term forcast and you should hold on to that since you are already in the risk already and even on profits from the current bitcoin price movements which is now way above your entry price at the moment, so for you to be guided to arrive at a positive position, you need patients.