Time to long Bitcoin or further drop ?

[Faisal2202]

Taking small small profit from your Bitcoin investment can't impact your finances much, so it's better you focus more on stacking up a very huge stash of Bitcoin now that it's very cheap, because when Bitcoin has gone up later in the future, that portfolio of yours that was already large when the price was down like this , will significantly rise in value and may change your financial history forever. So thinking long term while accumulating Bitcoin is the best way to reap significant result from your Bitcoin investment, not by cashing out small small profit.

Yes, taking small profits from a bitcoin investment won't give us much. If we plan to invest for the long term, then booking a small profit indicates greediness. Bitcoin investors should hold their coins for years without selling anything. I used to book small profits in start but later I realized the mistake, I was planning to hold for the 2024 bull run.

When I said we should book profit and should not wait longer, it is for those who day trade, not hold for the long term. Because if someone is in day or swing trading but they are new, they will show greediness when their trade makes them a profit, as they seek more profit and lose it all.

[dimonstration]

Taking small small profit from your Bitcoin investment can't impact your finances much, so it's better you focus more on stacking up a very huge stash of Bitcoin now that it's very cheap, because when Bitcoin has gone up later in the future, that portfolio of yours that was already large when the price was down like this , will significantly rise in value and may change your financial history forever. So thinking long term while accumulating Bitcoin is the best way to reap significant result from your Bitcoin investment, not by cashing out small small profit.

Yes, taking small profits from a bitcoin investment won't give us much. If we plan to invest for the long term, then booking a small profit indicates greediness. Bitcoin investors should hold their coins for years without selling anything. I used to book small profits in start but later I realized the mistake, I was planning to hold for the 2024 bull run.

When I said we should book profit and should not wait longer, it is for those who day trade, not hold for the long term. Because if someone is in day or swing trading but they are new, they will show greediness when their trade makes them a profit, as they seek more profit and lose it all.

It contradicts long term investment to taking profit. The author is doing a future trading which means he is on a short term trading due to leverage so a small price movement on Bitcoin will already resulted to good profit.

I assume it’s Futures trading since he mentioned opening long position at 65K. He should be buying Bitcoin on spot price if the goal is going long term investment.

It doesn’t make sense to hold futures position long term due to the funding fee.

[Peanutswar]

To be honest , I longed from 65k . But I now start to have another fear of a slow drop from the current price . I will appreciate some technical analysis or opinions.

Seems it's a futures position, as of now, there's no confirmation with the market yet, but if you tried to check the price of the bitcoin are on the SR flip area which is the previous resistance are the current support right now of the market actually we dip on the market, personally I made a position of the limit order at the price of the 60k for a spot position or could be futures but need to be consider another double top or a W pattern for a reversal, for the stand no one knows yet waiting is the best action.

[0xredhot]

I longed on $62k if it drops further I have enough margin to cover it, liquidation price at $20k but it might drop to $50k but I dont think we will ever see $20k levels.

[justdimin]

To be honest , I longed from 65k . But I now start to have another fear of a slow drop from the current price . I will appreciate some technical analysis or opinions.

That's so close if you haven't closed the order, the lowest price that we've got today is $65,900.
I hope that you were not liquidated with that trade of yours.
While the rise could continue now and that seems to be the safe support zone for Bitcoin.
You can just hope for it but you can't tell of how low it can still go. That's how bitcoin usually reacts, you don't have much profit from that leverage as of now.

There are moves that goes a bit down and then up, you look at it and your order looks like it's lower than what the current price is and yet you lost and do not understand what happened, and you realize it went down first and liquidated you before it went back up.

I hope nothing like that happened to OP, but during bear markets that is the risk you are facing when you put your money on long, short is the same to be fair but at least has a higher chance because of how the price is moving. I know that people who do leverage trading and get into futures are all aware of this, but I just wanted to share the risk that we are facing when we are dealing with it and how you could be knowing where it goes but still could lose money.

[terrific]

That's so close if you haven't closed the order, the lowest price that we've got today is $65,900.
I hope that you were not liquidated with that trade of yours.
While the rise could continue now and that seems to be the safe support zone for Bitcoin.
You can just hope for it but you can't tell of how low it can still go. That's how bitcoin usually reacts, you don't have much profit from that leverage as of now.

There are moves that goes a bit down and then up, you look at it and your order looks like it's lower than what the current price is and yet you lost and do not understand what happened, and you realize it went down first and liquidated you before it went back up.

I hope nothing like that happened to OP, but during bear markets that is the risk you are facing when you put your money on long, short is the same to be fair but at least has a higher chance because of how the price is moving. I know that people who do leverage trading and get into futures are all aware of this, but I just wanted to share the risk that we are facing when we are dealing with it and how you could be knowing where it goes but still could lose money.

They're free to do these leverages as long as they know the risk in it for how risky the market is.
The volatility never changes for Bitcoin at any occasions and for every cycle that we are in.
Its price was seen again on $65k and those who have longed surely have been liquidated if they haven't closed their positions.
Or if they haven't cut their losses. This is the risk that we're talking but if it's on the spot market, there is nothing wrong.

[Wiwo]

To be honest , I longed from 65k. But I now start to have another fear of a slow drop from the current price. I will appreciate some technical analysis or opinions.

If you are not using high leverage, then you are safe and whatever drop you experienced will quickly be recovered, so for sure $65k entry point into the market is a good entry point in my own way and you should only be worried if you use 10x and below it's fine but 10x above and with a high liquidation price, that call for worries.

65k is definitely a good discounted price for spot traders and even future traders too have advantages but should be careful with leverage.

In conclusion, you have a got position, but you have to monitor and service your position if need be, unless if you liquidation price is extremely low and out of reach let say if you have your liquidation price at around $25k-40k rang.

[Mpamaegbu]

To be honest , I longed from 65k . But I now start to have another fear of a slow drop from the current price . I will appreciate some technical analysis or opinions.

If I were you, I would just stay away from the market at this time. Bitcoin is in a confused state ATM as it has been ranging for the past five days now. It's better to stay out of the market whenever there's a range. I don't know what you intend to do with this little information of mine but that's what it's. It's better to preserve your capital by waiting than rushing to trigger trades and then lose at the end of it.

[FanEagle]

You need to trade short time and not delay to take your profit. The market still unpredicted and if you place a long position, you should know when to close the position. The thing is no needs to be greedy because the unpredictable situation and no needs to use high leverage because the risks will be bigger.. If your analysis says the price will down, you can placing short position and closing it when you profit.

While it's true that you should be careful and get out whenever you can, because profit taking is the most important part, you also need to realize that it is not going down in a straight line, there are days like these where it goes up and has a green 24 hours, so you need to be careful about it.

This is very important information because many people think that during the bear run (which we are in right now) we are going to go down but do not realize "how" we are going down. Yes it will go down, but it will go down 5 and then up 1 and then another 3 down and 1 up, then another 7 down but 2 up etc etc. So, if you are shorting during the fall period then you will be fine but if you do that and then it goes up a bit, you will lose it all.

[WatChe]

Yes, taking small profits from a bitcoin investment won't give us much. If we plan to invest for the long term, then booking a small profit indicates greediness. Bitcoin investors should hold their coins for years without selling anything. I used to book small profits in start but later I realized the mistake, I was planning to hold for the 2024 bull run.

When I said we should book profit and should not wait longer, it is for those who day trade, not hold for the long term. Because if someone is in day or swing trading but they are new, they will show greediness when their trade makes them a profit, as they seek more profit and lose it all.

Bitcoin has given huge profits to those who buy and hodl it for 5 years or more. If you sell Bitcoin for few bucks profit then you are missing the actual potential of the Bitcoin. The price of Bitcoin has gone down now and its nothing to worry rather it must be taken as an opportunity to buy bitcoin and hodl it for long term. Bitcoin is an ideal investment for anyone who want financial independence but the requirement is we have to wait with patience. If you are investing in Bitcoin with intention of becoming rich overnight then its not the right choice because the key to get good profit from Bitcoin is to invest and then wait for long duration.

[Hyphen(-)]

To be honest , I longed from 65k . But I now start to have another fear of a slow drop from the current price . I will appreciate some technical analysis or opinions.

As of now, the price is $69k which means you should be on profit by now, I don’t think the slow dump should be something to be afraid of because no matter how it will goes the price of Bitcoin will go back again it will just take some time so be calm and keep your position, if you can be patient enough, you will be on profit soon, and if you feel you are not safe, you should rather end your position and buy Bitcoin instead to hold.

[Asuspawer09]

Might be a good position to hold depending on your leverage. There was always a possible drop for sure, even at this bottom on the recent drop as always, it always happened most of the time, since there are traders that are already getting comfortable with the price, so usually there are a lot of price manipulations that could happen. But at the same time, I wouldn't say that it was a bad move to hold at this point, with a controled leverage, you might be able to make a good profit with it, if you are going to play it safe, moving your stop loss.

Still, personally going to stick to spot trading since I already stopped the future trading since there was just too much risk on it, and stress might not be worth it, I prefer long-term and a much more guaranteed profit.

[tygeade]

Further drop is proving to be the way it's going right now, and that is what we are dealing with the situation at hand. I get that people got happy for a small while because we have seen that 70k+ breakout for a small time but that wasn't really the way to get better, that wasn't really a proof that we were going up.

It was a temporary small situation that we had and because of that we ended up with a situation that was good for a small time frame. We are going to end up with a much worse situation and the price will keep going down. However, we do not have to feel sad about it, we can simply just end up trying to recover from that and we will get a lot better because if we buy near the bottom and hold, it could be great profit for us.

[ancafe]

As of now, the price is $69k which means you should be on profit by now, I don’t think the slow dump should be something to be afraid of because no matter how it will goes the price of Bitcoin will go back again it will just take some time so be calm and keep your position, if you can be patient enough, you will be on profit soon, and if you feel you are not safe, you should rather end your position and buy Bitcoin instead to hold.

Sometimes this can be a bit confusing because people panic over small declines, when they should be aware that Bitcoin will recover once it finds strong support. This is different from a deep decline as it can be psychologically disruptive, especially for those who don't fully understand Bitcoin's trajectory. If you don't want to suffer losses, then in such a sharp decline, the only thing you need to do is stay calm and avoid excessive panic.

It's far better to buy and hold than to engage in short-term trading because when someone knows how to position themselves in certain conditions, losses are rare. Except for those who panic and fail to understand Bitcoin's trajectory which can lead to wrong decisions and unnecessary losses.

[Hyphen(-)]

It's far better to buy and hold than to engage in short-term trading because when someone knows how to position themselves in certain conditions, losses are rare. Except for those who panic and fail to understand Bitcoin's trajectory which can lead to wrong decisions and unnecessary losses.

Exactly! Most people panicking over the Bitcoin price crash are short-term traders and future traders whom has already open a long position for Bitcoin with maybe high leverage, they are afraid of liquidation; while short-term traders whom might have bought Bitcoin around $80k plus and will be expecting the price to go higher for their quick profit, which I think will force them to hold the Bitcoin without any choice because selling now will only resolve to loses.

Its high time to keep calm and maybe buy more Bitcoin to your portfolio if you are an investor that uses DCA to buy Bitcoin, but as a short term traders whom might or future trader, you just have to stay calm and observe the market because the market is volatile and risky to trade now.

[bangjoe]

To be honest , I longed from 65k . But I now start to have another fear of a slow drop from the current price . I will appreciate some technical analysis or opinions.

I think your target is correct about the $65k price for bitcoin accumulation, or do you think you should open a position in the derivatives market on bitcoin? I think it's not for now because the potential is very doubtful about the price even though we are looking for bitcoin support prices today with a lot of price consolidation which makes prolonged side ways possible, I suggest you just accumulate spot assets rather than speculating on future trading because that's a big risk right now.

[maydna]

You can start next weeks but that will only if the market situation can calm down. But if the market still difficult to analyze, you don't have to enter but waiting for more.

We are difficult to shares what we know because that is just our predictions which we don't know if that will happens or not. If you can analyze, you can use your analysis. You can also learning more and improves your skills.

The price is below $70k and no sign if that can reverse. If in the next few hours or tomorrow the situation can be better, you can entering the market.

But be careful, the line still showing the down and that is difficult to predict. Anything can be possible so analyze before you decides.

[0xredhot]

Could not help myself longed BTC little bit here, to make some coffee money 

https://cdn.fileshare.ing/production/8oiy3gsesyv.png

[Bobrox]

To be honest , I longed from 65k . But I now start to have another fear of a slow drop from the current price . I will appreciate some technical analysis or opinions.

Your long position have earn much profit if still not selling but depend how much leverage and your margin avoid from liquidation due bitcoin ever drop lower than $65k, actually your long position most promising because open order bitcoin at lower price and current price of bitcoin around $69k with highest price yesterday up above $70k. In my opinion, if your long position back up much margin fund and still far away from liquidation hold it until bitcoin back above $70k but not wrong take profit right now and re open long position again around $65k or $66k.
For future trading usually I take profit as long as possibility regarding bitcoin price not stable yet, easily recovering to higher price but without longer moment bitcoin not get difficult dump to lower price.

[Wakate]

Seems it's a futures position, as of now, there's no confirmation with the market yet, but if you tried to check the price of the bitcoin are on the SR flip area which is the previous resistance are the current support right now of the market actually we dip on the market, personally I made a position of the limit order at the price of the 60k for a spot position or could be futures but need to be consider another double top or a W pattern for a reversal, for the stand no one knows yet waiting is the best action.

I know that seeing a W or M pattern means a reversal  and this also dependent on the timeframe for a reversal to occur looking at how the market do react to price at different certain levels and time limit. Seeing a W or M pattern on on a lower timeframe might actually reaction to the market price but this might be a short reversal or trap that could either make price to go down more or activate for the bull.