Time to long Bitcoin or further drop ?

[Wind_FURY]

Judging by the latest data, the crypto markets are having difficulty maintaining momentum, and social media data indicate that there are significantly fewer optimistic comments about Bitcoin and Ethereum compared to last week. Comments are increasingly positive and optimistic rather than negative. Meanwhile, even alts such as XRP have reached a 5-week high in bullish sentiment, probably due to recent announcements about the expansion of the partnership.

Apparently, the crowd decided that it was time to calm down in terms of panic and start thinking about buying. And this applies not only to Bitcoin, which is a good indicator.

What the increasing optimism may indicate is people bought the DIP and they're currently trying to convince everyone, AND THEMSELVES, that it's the bottom.

BUT if the market starts to DIP again, it will start another negative cycle of comments which will indicate that they sold in panic.

 

[Pandu Geddon]

However, sometimes when there's a significant drop, I personally always wait for that moment. That is, by accumulating more. So I do DCA, and I also sometimes do Average Down. So, the bottom line is that it depends on my financial situation. However, the lower the price of Bitcoin, the more advantageous it is for those of us who are accumulating for the long term.

Taking advantage of opportunities visible in the market is better. Have you ever heard of people selling their assets to buy Bitcoin when the price drops very low? Sometimes people become confident to take risks even when the situation looks bad to some. 
For those who want to wait for the price to drop, there’s no problem. It all depends on our predictions as well. But for those who want to make a purchase now, the price certainly isn’t bad. Bitcoin has once reached $126k; buying at the current price and waiting until it returns to the ATH would still yield profit.

[vanesha]

You’re right when you said you would feel confident re-entering the market when Bitcoin is around 65k. However, the market is still very uncertain and can move in any direction right now. My suggestion would be to start entering gradually and buy little by little. Then we can observe the market’s progress over the next few hours. If it moves positively, you might choose to hold. If it turns negative, you could continue accumulating gradually.

[tvplus006]

To be honest , I longed from 65k . But I now start to have another fear of a slow drop from the current price .

Few people have been able to buy BTC at the lowest price, but it has long been noticed that buying in parts, as the price decreases, eventually gives the best average price. And the current price of bitcoin looks very good, and this is the price at which you can start shopping.

[Wind_FURY]

To be honest , I longed from 65k . But I now start to have another fear of a slow drop from the current price .

Few people have been able to buy BTC at the lowest price, but it has long been noticed that buying in parts, as the price decreases, eventually gives the best average price. And the current price of bitcoin looks very good, and this is the price at which you can start shopping.

That's especially if the person still has not started his/her Bitcoin purchases yet. For the early phases of someone's Bitcoin accumulation journey, it's psychologically important to anchor your initial purchase at a lower average price. That's how Chad Saylor would have done it IF he didn't go on a FOMO buying spree during the late phases of the Bull Cycle.

[Byebyebtc]

Bitcoin right now is in a state of "nobody knows tomorrow"
I personally have no idea how low Bitcoin will drop, and I know very well that Bitcoin had completely disrespected like 90 percent of technical analysts world wide.

As a technical analysist what I will be looking up to is the next draw of liquidity, buy side or sele side, but the prediction of a rally right now is quite more than me and majority of technical analysts.

[SquallLeonhart]

I don't need to bore you or anyone with some charts, just go to your monthly and weekly charts of Bitcoin and tell me what they read. All reads red, right? That means the market is still very bearish. Now, this doesn't mean it can't just start going up, which is where your own decision matter this time. Some will not wait till the perfect bottom before buying. You may start too since a significant dip has occurred, you might start DCA approach at this time. And if you've already bought it, I don't think selling at a price close to $65,000 (current levels) is a good idea. You might just target a lower level to buy more instead.

While it's true that it doesn't mean it won't go up, of course it may, but it's also pretty obvious that it's heavily favouring going down. So thinking that it will suddenly start to go up, even though possible, is not where the smart money goes, most likely that we are going to end up seeing how things could get better. For that reason I think we should be considering how things could be different and we could see that be going down instead of going up because of what the market looks like.

Bounce back from current level is highly possible but that may not sustain to be a bull run toward a new ATH. I mean, we may bounce back and then may come down to test bottom. It means that market will remain unpredictable and dead-cat bounces are highly possible. I wish that I turn to be wrong but I will confirm that we are entering bullish market once we test 100k. So, until then we need to live among many ups and downs.

[cxtreenal]

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.

Bitcoin price is often not consistent with past experience and subsequent predictions. Bitcoin is a feature that the market will always seem volatile. At the current level where Bitcoin price is fluctuating if the price is $125k at this time so you would definitely increase your available funds. To buy more Bitcoin and pray for $110k. Psychologically there is no specific limit to buying dips. Almost everyone invests based on assumptions about future prices. There is no reliable source that can accurately predict Bitcoin price.

[BlackBaron]

To be honest , I longed from 65k . But I now start to have another fear of a slow drop from the current price .

Few people have been able to buy BTC at the lowest price, but it has long been noticed that buying in parts, as the price decreases, eventually gives the best average price. And the current price of bitcoin looks very good, and this is the price at which you can start shopping.

Yes, only a few people have successfully bought Bitcoin at its lowest price. If we wait and hope to buy when it hits its lowest price, I don't think we'll actually buy. The reason is very simple: when we see Bitcoin hit its lowest price, we'll want the lowest price again, and so on, so we'll never buy.

So, the best way to buy is with DCA, so we don't think about the lowest point. Because we'll re-accumulate when the price is lower than the one we've been in before. This is, in my opinion, a better approach than waiting for the lowest price when we don't know for sure where that point is.

[jostorres]

That is just one simple way to go about all this just buy and hold and which ever strategy you might be using it is wise to hold and not sell that is the essence of buying in the first place  and as far as you buy and you are patient enough I agree with you you that you will definitely make profit and don't know why that is a problem for them and couple with the fact that the price is unpredictable makes it more interesting because there is no way than for to wait when the price bounces back and also record a new ATH then you can either way decide to buy.

Buying and holding is definitely the greatest strategy we could have and unfortunately not a lot of people are seeing that as reality, we should be able to make money from this as much as we possibly can and if we can do that then we are going to make a lot of money. The reason why some people fail to do it is because they can't hold and I never understood why but the main reason usually is because they see the price going down and they think they are going to lose a lot of money.

First of all, you do not lose any money at all as long as you do not sell, secondly even if you do nothing else if you could just hold and wait then it will go back up one day even if it takes years and you are going to profit from it anyways.

[Pandorak]

You’re right when you said you would feel confident re-entering the market when Bitcoin is around 65k. However, the market is still very uncertain and can move in any direction right now. My suggestion would be to start entering gradually and buy little by little. Then we can observe the market’s progress over the next few hours. If it moves positively, you might choose to hold. If it turns negative, you could continue accumulating gradually.

It's true, right now all you need to do is keep buying. Instead of focusing on highly volatile prices, it's better to prepare funds to accumulate more Bitcoin. Make purchases gradually using the DCA method, which is one of the best methods available today.

The possibility of Bitcoin falling below the $65k level remains high, there is strong support at $60k-$61k, which has been touched before, so it is possible that the price will return there to test it. If it fails to break out, there will be a sideways movement for a while, but if it succeeds, we will see a further decline.  

[Odogwu-Blockchain]

The possibility of Bitcoin falling below the $65k level remains high, there is strong support at $60k-$61k, which has been touched before, so it is possible that the price will return there to test it. If it fails to break out, there will be a sideways movement for a while, but if it succeeds, we will see a further decline.  

The lowest point for major entry will be at 60k, that's the point where the price of Bitcoin will fall at and I expect it to still fall till this level. Questions had been raised as to where the ATL of Bitcoin will reach, many responding it to be at 55k to 60k.

That's the point at which Bitcoin will rest for longer period of time at least for 4+ years.

[landheer]

Because currently the bearish season, I think BTC will continue to fall in price, although there will definitely be an upward bounce, but in the end BTC will continue to fall and may even fall below $ 50k. So, I think now is the time to buy BTC for the long term, especially during a bearish market. And the best thing in my opinion is to use the DCA technique because if you use the DCA technique, you will definitely get a colorful price. But still, in this case, the decision is in your hands because the price of BTC is very difficult to predict where it will rise or fall. However, I think now is a good opportunity for those who are accumulating using the DCA technique.

[Wind_FURY]

Bitcoin right now is in a state of "nobody knows tomorrow"
I personally have no idea how low Bitcoin will drop, and I know very well that Bitcoin had completely disrespected like 90 percent of technical analysts world wide.

As a technical analysist what I will be looking up to is the next draw of liquidity, buy side or sele side, but the prediction of a rally right now is quite more than me and majority of technical analysts.

Although you're right that it's currently in a state of "nobody knows tomorrow", we actually have a high-probability projection that the Four-Year-Cycle will happen again based on Bitcoin's past Bull/Bear cycles. That means Bitcoin might find the Bear Cycle bottom support during October to December, 2026.

If you're a pleb who's just entered his/her Bitcoin accumulation journey, then Buy the DIP in the current price points, then DCA until October/November.

[Bitcoin_people]

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.

Now in my opinion the most important and effective discussion is buy every dip and hold for the next long ATH. There is no safer way than this. No one can say exactly how much the price of Bitcoin will fall. So the biggest profit is to make a prediction that will not cause a loss. I don't know who uses what leverage but if the price movement becomes more unpredictable then 1x 2x leverage is safe to use but more than 3x or 4x is very risky and it is better to close the position.

Just buy and hold for long duration of time when the bull season resumes again and be rest assured of making profit from any price you would buy bitcoin currently. With the dip which has made price movement unpredictable towards what trend it may take in the next hour using leverage becomes highly risky whether you're longing or shorting your trade it doesn't matter. Except where you have a few bucks to risk you can be trading at this uncertain period.

That is just one simple way to go about all this just buy and hold and which ever strategy you might be using it is wise to hold and not sell that is the essence of buying in the first place  and as far as you buy and you are patient enough I agree with you you that you will definitely make profit and don't know why that is a problem for them and couple with the fact that the price is unpredictable makes it more interesting because there is no way than for to wait when the price bounces back and also record a new ATH then you can either way decide to buy.

When you don't what is important when you leverage and take profit and stop loss then this are the ways you can reduce the risk of losing to. Much when it comes to trading a lot of people don't longer get the logic and they intentionally don't want to be disciplined trader. And the implications that comes with not following the rule is just crazy and now it looks like people will learn the hard way since they don't want to bend the rules they just want to make quick money.

If you follow any strategy to invest, you must hold it for a long time, it is definitely wise. When we invest, we must increase our patience and keep our plans well so that we can be successful from here in the future. So in terms of investment, buying and holding is always an easy task, but whenever it comes to trading, it will be difficult. Bitcoin is a good investment for long-term investors, but when it comes to trading, it will definitely be the opposite. We know that after every big fall, a new ATH is formed in the market, so we have to maintain discipline and be patient, but the chances of profit will be high. Especially when we plan an investment for a long time, we must use the DCA method, it will make us more risk-free. We must always have an investment mindset, not a trading one, because trading is risky, that is why we have to hold Bitcoin with faith and patience.

[Awaklara]

It's true, right now all you need to do is keep buying. Instead of focusing on highly volatile prices, it's better to prepare funds to accumulate more Bitcoin. Make purchases gradually using the DCA method, which is one of the best methods available today.

When we see Bitcoin reaching over $100k, there are still those talking about buying at that price because in the future, the price will be higher. And when looking at Bitcoin's current price, there should be no hesitation in buying more. Because the future profits will definitely be higher than purchases at the $100k price. We are on a discount, so buy according to your capacity and plan your next purchase if you still have funds to allocate.