I hope bitcoin will not go down for below $50,000 in the near term before I can close my trade and take profit
Close your trade and set it automatically so that you won't be panicking if ever it will do. But there's still the probability that it will but just like you, we don't want to see it go low down again.
I already close my trade when the bitcoin price can increase, so I do not think more about the price. Now, I only want to wait for another downtrend that will comes after the price increase. But if the price still increases, I have some more bitcoin ready to sell at the next higher price because I think the price can break $61k or more. Hopefully, the price does not drop again as before, but I will make sure to buy more bitcoin if that happens.
As I'm looking at the price lately, it didn't break $60k and there's again a liquidation which made bitcoin drop by $2k. The highest for this day was $59k and I thought that we're be breaking the $60k again but it didn't and as of now, the price calmly stays at $57,900.
That's right, we could drop a bit, those 20-30% drops are not a big deal, sure that would mean that we would be in the under 50k places, but I think that could happen after we increased as well. What people are not understanding is that last time in 2017 when these sales happened, people were mad that they were too late and they sold anyway, price kept going down more and more constantly, that was what people did, however we are talking about something that's entirely different, prices go down and people see it as cheap discounted bitcoin this time around.
This is why I think it's quite obvious that we are not going to make that much change anymore, we will probably go up faster once again because when it goes up, it goes up very fast and that's what we will have because we tried to go down and whales sold but it's not dropping much so only way to go is up now.
The trend for bitcoin for going up makes it different this time. While we've seen it broke the last ATH for 2017 and even more from last year's ending up to this moment, this makes us believe that it's unlikely to see bitcoin at a lower price again, although things can change in instant.