Time to long Bitcoin or further drop ?

[Powerjumboo]

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.

Are you on a spot trading platform or a futures trading platform? If you are on a spot trading platform, I would say that you should hold Bitcoin for a long time because it will take some time for the market to rise. In my opinion, I would say that the market may go further down at this time because we may enter a recession. And if you are on a futures trading platform, you can stick to your decision. But in my opinion and in my judgment, it is better to do spot trading than futures trading at this time.

[ancafe]

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're buying to hold any price is worth considering as Bitcoin will always cycle and potentially rise much higher. If you intend to engage in futures trading, the current market potential will be a little more difficult to analyze, so you should apply lower leverage and remember to use a stop-loss. A long position on Bitcoin looks good at the moment, but there's a possibility of a reversal, so you need to be confident in your decision.

If you have sufficient capital to withstand liquidation, taking a long position might be a good idea, but the risk is high. In my opinion, it's much better to set a stop-loss so that if our analysis is wrong, you won't suffer a greater loss. This is not financial advice, so you should conduct your own analysis before making a decision.

[ZAINmalik75]

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 longed then, you must be in profit now, so what are you waiting for, book your profit and wait for the next opportunity. If you are one of those who think they have found a one in a thousand opportunity, and now you want to make the most out of it then you are delusional one.

Because being in the delusion of making profit while the profit is already in hand, is a clear sign of being greedy. Always book your profit, and use stop loss. Because without SL, all the profit and the capital can turn into huge losses.
And once it all starts to happen, a newbie trader, will not think straight and in order to save the capital, they will add more capital.

[Asiska02]

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’re still in a long position, then it’s quite time for you to take profits now because you’ll be up in profits a lot now from the time you asked this question here. You don’t look to be very confident in your analysis and fear the market facing a huge drop soon. It is important that you take your profits now if you’ve scalped this trade because the market looks bearish overall and you took a long position, so this is definitely a scalp trade you’ve opportune to have taken.

The market has not been so predictable and many analysis of top analysts have ended up to go wrong, so you should be lucky to have hit big on this one. If you’re still holding, it is time to close, if not when taking such trades again, risk what you can afford to lose as the market is very volatile and only professional traders tends to have a better chance at the market now.

[Lida93]

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.

There is uncertainty in the market and traders need to be wise when making decisions about whether to buy or to sell.
This is not the time to long the market because Bitcoin could fall again and those that had long the market could lose their money by getting liquidated. The price of Bitcoin could go down without any sign or signal.

Any trader that wants to go long should be doing it with what they can afford to risk losing because the market is just unpredictable and we can't be sure what the next movement would be. Much sentiment is that bitcoin would fall further dip-ish but we are certain that it's going to fall despite how's looking that way. At this time, investors are the people in safe hands since they're doing it for a long term which when bitcoin can rise.

[Razmirraz]

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.

No one can be sure whether a long-term or short-term position is the most appropriate, it all depends entirely on the analysis and strategy you apply. The only thing you have to know is that the market is always uncertain, high volatility is a common occurrence. Analysis can help you make decisions, but it's only a prediction. If you feel confident with the chart and on-chain analysis, then it's best to take a long position right away.
If you are afraid that Bitcoin will fall further, then you can take a wise and responsible action or decision by closing the trade just in case. So, before entering a trade, you must do research first because no one can make decisions for you because it all depends on your own ability when trading.

[bitgolden]

If you’re still in a long position, then it’s quite time for you to take profits now because you’ll be up in profits a lot now from the time you asked this question here. You don’t look to be very confident in your analysis and fear the market facing a huge drop soon. It is important that you take your profits now if you’ve scalped this trade because the market looks bearish overall and you took a long position, so this is definitely a scalp trade you’ve opportune to have taken.

The market has not been so predictable and many analysis of top analysts have ended up to go wrong, so you should be lucky to have hit big on this one. If you’re still holding, it is time to close, if not when taking such trades again, risk what you can afford to lose as the market is very volatile and only professional traders tends to have a better chance at the market now.

Yeah, the price will drop further and we will see it reach to a bottom. So, being in the long futures right now would be a bad idea and anyone who does it will just watch their money evaporate because the price will go down and liquidate all your long futures. You can leverage as much as you want, you can margin it as much as you want but in the end you are going to lose it all. We need to make sure that it is not going to end anytime soon, so we should keep staying away from longs for now.

[SilverCryptoBullet]

Yeah, the price will drop further and we will see it reach to a bottom. So, being in the long futures right now would be a bad idea and anyone who does it will just watch their money evaporate because the price will go down and liquidate all your long futures. You can leverage as much as you want, you can margin it as much as you want but in the end you are going to lose it all. We need to make sure that it is not going to end anytime soon, so we should keep staying away from longs for now.

Price will move unpredictably as it can move up or down in a way most of market participants can not predict accurately. The most important fact of the market is it usually moves oppositely with common predictions and expectations of the crowd. If we mostly think of a bull run, the market will move down, and if we mostly think like the bear market bottom is here, price will fall down more and deeper.

In this volatile and unpredictable market, don't leverage your initial capital and take too much risk, your positions if leveraged greedily and unsafely will very likely be liquidated. Liquidations will make market makers and exchanges richer while gamblers in this market will become poorer, even be bankrupted.

Lastly but very important, bear market is most terrible and sensitive time for centralized exchanges and people who consider accounts on CEX as their wallets, as these exchanges can be bankrupted, died or do their scam exits.
Events made you scare about custodial wallets, centralized exchanges.
Cryptocurrency exchange graveyard.

Around the bear market, it's time to withdraw all your fund to your non custodial wallets because black swan events like Terra, FTX will be possibly appear again.

[rbynxx]

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.

It's just fine I guess to have that feat considering the drop has been done for weeks now and tbh sellers would be exhausted by now and I think a hit to $80k would be probably significant for a take profit opportunity. Best is to trust your gut rather than relying on someone else's opinion and technical analysis, at the end of the day it's you that will celebrate your wins and grieve for your losses.

I think $60k for a support when we got to $120k is so strong, I will probably take this as the bottom for the next ATH.