Topic: Bitcoin Breakout (Read 692 times)

Yes, that's right, bro, some of the bitcoins that I have I still save, I don't spend, I want to be as wise as possible in managing the assets I have.anyway in the trend If the break out penetrates the trend line that I drew from several time frames, the momentum must be right.
we are prepared from the percentage of volume and resistance, especially some types of income and sales that are very helpful for me, bro
it's not that much of a profit that I can get if I only sell from assets that have just arrived or payments from anywhere and anyone. At least some of them have plans for finances in the future, that's what I experienced and carried out bro, your advice is very good.

$39k today, so the avalanche or sell-off continue as to this hour. So to much for the pump to $48k as the market reacts negatively to so much news, specially the Feds raising up the interest rate, and the inflation rate of US is in highest in 40 years and of course the war itself. I guess we need to go down to even lower to be able to see $50k in the future. Maybe around $30k before we can go up and rise to $50k or more before the end of the year.

Earning/selling weekly? that sounds like a signature campaign? It's okay to sell it whatever the price of btc because you have only earned them. Waiting for a better opportunity to sell are only good if you invest your own money in btc however if you badly need a fund for your family and you don't have any sources of income or no other forms of money available, your last resort would be selling your bitcoins.

@maydna
I don't think they will be sad if btc price didn't drop but they are going to be happy actually. No one wants to lose but all of us here only demand for stability in the price and of course the best thing is if the price will start on pumping.

we are in the second week of quarter 2 means this is somewhat far from what we are expecting to come the whole first quarter.

Maybe we can see what we wanted to achieve in the end of this quarter? but yes the 50day average must be maintained for us to trust what we wanted .
waiting is part of strategy but defend on what our capacity is we may see changes in the following months and surely we need to keep Holding or sell it all now.

Yes, that's right, my friend. I own and sell bitcoins almost weekly for my family's daily needs. The green chart had a data boost a while back, and for those analyzing the 4-hour hat-trick, that's cool.
I still keep some assets on some networks, maybe it is a good thing to trade bitcoin again from a few folds in the wallet, some investors and traders I believe they will be sweet in times like this. bonus phase of patience waiting for bitcoin trend change

^^ Well we will have to see, the market is fairly young, I mean the data is like 10 years old and we can only extrapolate the data that we currently have. But so far still true but then again, as bitcoin's narrative has change, maybe this so called 4 year cycle will have to skewed at some point in time. But do remember that during halving, the reward for mining  bitcoin transaction is cut in half and bitcoin inflation is also cut, making the demand soar in the future, hence increase in the price.

I do agree that the cycle is like that, but at the same time I do not believe that it would be something that would be a "must". I mean it is usually like that, but it could be a bit different as well. Imagine a situation where the cycle could be broken, like after halving it becomes something that is a bit of a big deal and everyone suddenly gets scared.

If the next halving doesn't have a big hype and a huge increase then we would have a lot of people who end up making a big scare and everyone would start to sell. In order to fix that, we need to make sure that everyone knows the fact that there isn't an expectation for that, just to make sure that even if it doesn't happen, we should be fine.

 Looking at how its not doing so well right now, I could say that there is a good chance it may not do so well later on either. We just need to realize that breakout "could" happen, but there is a big possibility that it may not happen neither. So all we can do right now is that wait for it, but also make sure that you have some DCA or stop loss in place so that you wouldn't be hurt if the price goes down. We moved between 38k-42k prices for a month before the last good increase, we are down to those levels now meaning we could see 38k all over again, and we should be prepared for that AND the 50k+ possibility all at the same time.

Even if the market is not on its best shape still we can really assume a market recovery since this somehow a normal cycle with bitcoin and even though the 4 year cycle is far to come we can say that this year is different compare before. Bitcoin is now really getting huge awareness especially on the mainstream, so I guess fear factor towards bearish season lessen up and I guess.we have more chances to recover faster after the dump that seeing those heavy dumps.

That is bitcoin cycle, every 4 years we see a massive pump - bull run and then followed by a long and bearish trend, a crypto winter. Nevertheless, the current price is nowhere -50% of our last ath.

Yeah, it could be that the market is fully tired and exhausted after it's run from March to $48K. But for sure, we might see it bouncing back again or worst, going down hard. We shall see what's April is for us.

The market is of course tired because they keep pumping, they want to get a profit by selling immediately, I'm sure a trend like this will last for a long time, and the market skyrockets again usually after 2 years, of course we still remember the trend every 4 years, and I follow its development and bitcoin usually drop again after 4 years previously happened in 2013 and 2017.

Right, it seems that we have been retracting this week though, and I would say that we are somewhat again on the bearish trend. Maybe we have reach market exhaustion after a huge jump from $30k levels to almost $50k, sure the bulls has reach some tipping point at this time so they have to relax momentarily. So it's interesting if we can just stay above $40k as this is a very critical support.

Definitely suffering a retraction right now with price trading below the monthly average.   See if we can maintain the 50 day average as the boundary, top prices were marked alongside the 200 day average.
  It wont breakout till we not only clear and above such averages but the momentum of gains means those averages are all trending upwards.  Observe all the other times this was true

then enter after the retest or when there's already a confirmation that bitcoin is totally in bulish situation, i mean at least after 1 or 2 green candle stick before entering to prevent fake outs. Actually sometimes i used that strategy but on this situation we need to use a higher time frame IMO if we really have doubts and afraid of false break out, infact buying at such level isn't late tho, so probably a good idea..

What happens is that people want to buy at the absolute bottom and without a doubt that can be difficult to time correctly, however buying when the price is way below its average price after a crash is relatively simple, in my opinion this is one of the best moments to buy as you will not find a better price when to do so, the only difficulty strives on being able to accept that maybe the price could keep going down after we buy and avoid panicking in the process.

The one thing people overlook indeed. Utility without access restriction.

And also why not everyone who claims they're buying gold or silver actually are. They're not stacking up bars and ingots, they're buying up certificates that say they own the metals tied to it. Worse, accounts in digital realms that have no way of proving they actually have that gold.

Of course, there are a lot of people buying Bitcoin like that -- usually the same ones buying gold without really requiring proof that they own what they think they do.

Sorry to tell you this but your experience is useless in bitcoin market since there is very little similarities between the two.

I can't predict things with the same certainty you do but all I know from my experience in bitcoin world ever since 2014 is that this statement has been made with a different number a thousand times. For example they said it is highly unlikely that bitcoin reaches $400 back in 2015 too and yet it not only did that but surpassed it by a lot.

You are absolutely correct about 50% of it and absolutely wrong about the conclusion you are making.
The "big" rises eventually stop but not until the mass adoption is reached. You are wrong because so far the adoption bitcoin had has been very small. Don't be fooled by some big player buying millions of dollars, we still have a very small percentage of people who are even aware of bitcoin and even a smaller percentage of them who bought it.

This makes no sense at all.
If there is no "rush" to buy something, there is no logical explanation for there being a "rush" to sell it under normal circumstances.

You are ignoring a very important distinction. All the things you mentioned are purely for speculation. You don't buy gold or silver or W to use it for something, they have no utility apart from being an investment.
Bitcoin does.

That's mainly the charts. I do see it and it does say breakout, but doesn't mean that it will happen neither. I think these things show what it should do and the market has a good outlook and that is what people talk about. When you look at the charts, people are hyped and they are interested in buying as much as they possibly could, which shows up on these indicators as well.

This is why I believe that everyone is hoping for a huge break out. It could happen, nobody says it can't happen, it could definitely happen but then we need to figure out a way to make sure we are not upset if it doesn't happen. At that point stop loss is the way to go in order to protect yourself and still get in.

With this very speculative market then you would really be finding out this would be totally no sense on trying to claim out something just on pure guess which is always been our behavior.

Its true that it would really be good if there would be some attached analysis on every price speculations which would really appealing to look at and not just some number guess and then
leave the others would the the rest.Of course the price is too unpredictable and there's no way nor precise thing that we could really predict on where price could go.

Price is not getting weaker but it is constrained still hence I dont totally agree with the OP title of a breakout.  We defeated and outlasted the prior downtrend so on balance we recovered part of those losses, good news but its not over the fight continues and we are not yet free and clear just yet.



Heres roughly how I see progress and how I would assess potential for futher gains now and next week etc.   The blue and yellow lines are 2 day and weekly averages, generally good regular gains will come as we trend above those.