One question to all.
Did anyone of you get out of your positions above 60,000? If not, you saw your portfolio drop 50% in value. Is allowing the portfolio to drop 50% in value a good overall strategy?
Topic: Bitcoin Breakout - page 3. (Read 692 times)
Your approach is fundamentally oriented and if you get married to an idea and the idea does not work out for whatever reason, you will take a big loss.
Traders, computers and algorithms do not look at the fundamentals. They trade with the idea of limiting risk so they are never put in a positions where they have to make decisions based on money available.
If you buy at 42,000 and get out at 40,000, it suggests it is going to 35,000 (or lower). As such, you get out at 40,000 and rebuy at 35,000 and you have prevented the account from being down 5,000 extra dollars.
Doing this, allows you to be as aggressive (or more) at the lower levels. You don't have to worry about the fact the portfolio may be down an additional 10% in value.
With this type of mentality, if you buy at 42,000 and get out at 50,000 and it goes back to 42,000 again, you are now $6,000 richer and can buy even more.
Your solution is good but at least we have a perception in making choices, meaning we only buy 50% and the remaining 50% we will buy at the lowest price behind our main purchase. In this context we will not lose the percentage value in our portfolio because we enter gradually at different prices so it will be more appropriate for us to climb the ladder one by one.Traders, computers and algorithms do not look at the fundamentals. They trade with the idea of limiting risk so they are never put in a positions where they have to make decisions based on money available.
If you buy at 42,000 and get out at 40,000, it suggests it is going to 35,000 (or lower). As such, you get out at 40,000 and rebuy at 35,000 and you have prevented the account from being down 5,000 extra dollars.
Doing this, allows you to be as aggressive (or more) at the lower levels. You don't have to worry about the fact the portfolio may be down an additional 10% in value.
With this type of mentality, if you buy at 42,000 and get out at 50,000 and it goes back to 42,000 again, you are now $6,000 richer and can buy even more.
If we bought at the top we can also adopt that option if we really need to take position since its really a big stress for us not taking any action when there's dip came and doing cut loss is one of the best solution to save up our portfolio. It's up to you to decide on what percentage you can afford since if you are a risk taker then do it 100% but if not then what you suggest guys which is 50%.
We have different preferences about this so I guess we will have different opinion unto this.
Let me explain, enter Bitcoin near the 42,000 level and put a stop loss at 40,000 using the 50,000 level as the objective. In this way, you are looking to make 4 times more than what you are risking. If stopped out, take the loss and look for the next support level where you can buy it and do the same chart determination.
You can use another method. If you bought at $42 000 and the price went lower, just buy more, thereby increasing the number of purchased bitcoins and averaging the cost of your purchase. If the price goes up, then you can gradually sell the asset using the ladder method and place new buy orders.
I sincerely don’t understand why sell at a loss such a deflationary asset like bitcoin, which has always been growing historically, especially if we are talking about the spot market. Speculative trading with stops is the best way to lose your entire deposit.
If Bitcoin able to hit the price of $50k, that could be another bull run and if the price goes back to $45k again, it could be a correction which is another opportunity to buy again. There can be more scenario here, just keep watching so you can be ready for your next move.
Your approach is fundamentally oriented and if you get married to an idea and the idea does not work out for whatever reason, you will take a big loss.
Traders, computers and algorithms do not look at the fundamentals. They trade with the idea of limiting risk so they are never put in a positions where they have to make decisions based on money available.
If you buy at 42,000 and get out at 40,000, it suggests it is going to 35,000 (or lower). As such, you get out at 40,000 and rebuy at 35,000 and you have prevented the account from being down 5,000 extra dollars.
Doing this, allows you to be as aggressive (or more) at the lower levels. You don't have to worry about the fact the portfolio may be down an additional 10% in value.
With this type of mentality, if you buy at 42,000 and get out at 50,000 and it goes back to 42,000 again, you are now $6,000 richer and can buy even more.
Your solution is good but at least we have a perception in making choices, meaning we only buy 50% and the remaining 50% we will buy at the lowest price behind our main purchase. In this context we will not lose the percentage value in our portfolio because we enter gradually at different prices so it will be more appropriate for us to climb the ladder one by one. Traders, computers and algorithms do not look at the fundamentals. They trade with the idea of limiting risk so they are never put in a positions where they have to make decisions based on money available.
If you buy at 42,000 and get out at 40,000, it suggests it is going to 35,000 (or lower). As such, you get out at 40,000 and rebuy at 35,000 and you have prevented the account from being down 5,000 extra dollars.
Doing this, allows you to be as aggressive (or more) at the lower levels. You don't have to worry about the fact the portfolio may be down an additional 10% in value.
With this type of mentality, if you buy at 42,000 and get out at 50,000 and it goes back to 42,000 again, you are now $6,000 richer and can buy even more.
Your approach is fundamentally oriented and if you get married to an idea and the idea does not work out for whatever reason, you will take a big loss.
Traders, computers and algorithms do not look at the fundamentals. They trade with the idea of limiting risk so they are never put in a positions where they have to make decisions based on money available.
If you buy at 42,000 and get out at 40,000, it suggests it is going to 35,000 (or lower). As such, you get out at 40,000 and rebuy at 35,000 and you have prevented the account from being down 5,000 extra dollars.
Doing this, allows you to be as aggressive (or more) at the lower levels. You don't have to worry about the fact the portfolio may be down an additional 10% in value.
With this type of mentality, if you buy at 42,000 and get out at 50,000 and it goes back to 42,000 again, you are now $6,000 richer and can buy even more.
Traders, computers and algorithms do not look at the fundamentals. They trade with the idea of limiting risk so they are never put in a positions where they have to make decisions based on money available.
If you buy at 42,000 and get out at 40,000, it suggests it is going to 35,000 (or lower). As such, you get out at 40,000 and rebuy at 35,000 and you have prevented the account from being down 5,000 extra dollars.
Doing this, allows you to be as aggressive (or more) at the lower levels. You don't have to worry about the fact the portfolio may be down an additional 10% in value.
With this type of mentality, if you buy at 42,000 and get out at 50,000 and it goes back to 42,000 again, you are now $6,000 richer and can buy even more.
"we really don't know if some news will come out in the next 3 months that will change the movement of the price.
It could be positive or negative, so it's better to still observe and be cautious of our trading strategy as the price won't go on parabolic rise. "
This statement can be said about everything in the market. It is NOT a reason to not trade.
One mistake everyone makes is to think that trading has to be about being "right or wrong". No one likes to be wrong and lose. It hits the ego we all have and it hits our pocketbook. What needs to be the main idea is not about being right or wrong but about making more money than you lose. Everyone is going to have a loser at one point or another. It is part of investing. What needs to be done is have a game plan where you determine an intelligent entry price, have a level predetermined where the product will become negative (even for a short term basis) and if that level gets broken you take the loss. By the same token, also have an upside objective that is realistic and likely to be reached and make the determination that what you are trying to make versus what you are risking is 4 times more (at least) to what you are risking...........all based on support and resistance levels that you know will be supported and sold at (like with Bitcoin at 42,000 and at 50,000.
Let me explain, enter Bitcoin near the 42,000 level and put a stop loss at 40,000 using the 50,000 level as the objective. In this way, you are looking to make 4 times more than what you are risking. If stopped out, take the loss and look for the next support level where you can buy it and do the same chart determination.
By doing this, you can be wrong as much as 80% of the time (unlikely) and still break even. Waiting for some kind of assurance that the trade is going to work, normally means you are getting in at a high price where the risk is much more than the profit potential and that is never a good trading strategy. You know the adage about "buying low and selling high"
Given that "anything can happen at any time" fundamentally, this strategy is what will increase your probabilities of "making more money than you lose". It is "exactly" what the traders do.
It could be positive or negative, so it's better to still observe and be cautious of our trading strategy as the price won't go on parabolic rise. "
This statement can be said about everything in the market. It is NOT a reason to not trade.
One mistake everyone makes is to think that trading has to be about being "right or wrong". No one likes to be wrong and lose. It hits the ego we all have and it hits our pocketbook. What needs to be the main idea is not about being right or wrong but about making more money than you lose. Everyone is going to have a loser at one point or another. It is part of investing. What needs to be done is have a game plan where you determine an intelligent entry price, have a level predetermined where the product will become negative (even for a short term basis) and if that level gets broken you take the loss. By the same token, also have an upside objective that is realistic and likely to be reached and make the determination that what you are trying to make versus what you are risking is 4 times more (at least) to what you are risking...........all based on support and resistance levels that you know will be supported and sold at (like with Bitcoin at 42,000 and at 50,000.
Let me explain, enter Bitcoin near the 42,000 level and put a stop loss at 40,000 using the 50,000 level as the objective. In this way, you are looking to make 4 times more than what you are risking. If stopped out, take the loss and look for the next support level where you can buy it and do the same chart determination.
By doing this, you can be wrong as much as 80% of the time (unlikely) and still break even. Waiting for some kind of assurance that the trade is going to work, normally means you are getting in at a high price where the risk is much more than the profit potential and that is never a good trading strategy. You know the adage about "buying low and selling high"
Given that "anything can happen at any time" fundamentally, this strategy is what will increase your probabilities of "making more money than you lose". It is "exactly" what the traders do.
Breakouts have been happening in the past few hours and days. There is almost a hundred percent guaranteed possibility that the price will be reaching $50,000 in the coming days, perhaps even before March comes to a close. The price has corrected a bit after reaching $48,000 but there is no reason to believe that the rally is over. It seems the correction has now reached the bottom and the bounce is already starting to happen. This resumption might be the rally that will finally break $50,000. This is exciting!
The rally is not over yet and will continue, and hopefully, what you wish for can happen before the end of this month. Now is the time for a correction that could hold the price up to and back to the $48k level. If today or tomorrow, the price can go back up and even touch $48k again, there is a possibility that next month, the price can get another rally. Yes, this is fun because we can see the highest price again this year, and hopefully, next month and beyond, the price can return to the last ATH. 
Here is the 1-year weekly closing chart (Sunday's at 12:00 pm). Intraweek moves above or below those levels are meaningless to this chart. This chart shows the area (between the resistance and support lines) where Bitcoin is likely to trade for the next 1-3 months............unless new news comes out.
http://theoasisclub.net/Bitcoin1year.jpg
http://theoasisclub.net/Bitcoin1year.jpg
Yeah and that is the problem, we really don't know if some news will come out in the next 3 months that will change the movement of the price.
It could be positive or negative, so it's better to still observe and be cautious of our trading strategy as the price won't go on parabolic rise. It could be a long and hard grind for us and we could be hitting $60k in the next 1-3 months so we will see.
Bitcoin movements are confusing because the news we read varies so that it has an impact on bitcoin market movements. the market is currently in a holding phase at between $42k to $47k and will be in the spotlight for the next move, will bitcoin fall again or bounce sharply. many investors are worried about a market like this.
Breakouts have been happening in the past few hours and days. There is almost a hundred percent guaranteed possibility that the price will be reaching $50,000 in the coming days, perhaps even before March comes to a close. The price has corrected a bit after reaching $48,000 but there is no reason to believe that the rally is over. It seems the correction has now reached the bottom and the bounce is already starting to happen. This resumption might be the rally that will finally break $50,000. This is exciting!
Here is the 1-year weekly closing chart (Sunday's at 12:00 pm). Intraweek moves above or below those levels are meaningless to this chart. This chart shows the area (between the resistance and support lines) where Bitcoin is likely to trade for the next 1-3 months............unless new news comes out.
http://theoasisclub.net/Bitcoin1year.jpg
http://theoasisclub.net/Bitcoin1year.jpg
Yeah and that is the problem, we really don't know if some news will come out in the next 3 months that will change the movement of the price.
It could be positive or negative, so it's better to still observe and be cautious of our trading strategy as the price won't go on parabolic rise. It could be a long and hard grind for us and we could be hitting $60k in the next 1-3 months so we will see.
Here is the 1-year weekly closing chart (Sunday's at 12:00 pm). Intraweek moves above or below those levels are meaningless to this chart. This chart shows the area (between the resistance and support lines) where Bitcoin is likely to trade for the next 1-3 months............unless new news comes out.
http://theoasisclub.net/Bitcoin1year.jpg
http://theoasisclub.net/Bitcoin1year.jpg
The month of April is always been bullish according to past years. Also, we have seen a long-lasting bearish market for more than 150 days so a relief bounce was inevitable. But to be a confirmed breakout BTC needs to stay above 45k for some time. This is one of the psychological zones that many traders are waiting for to be broken so that the market turns bullish.
If that's what going to happen but it seems that traders won't risk to hodl and wait till Bitcoin touch the $50k. The market is in bear but we might seem to feel it this way since the market looks like bullish with a slight of pump but that's just it. And I agree that we just need a little longer days of price staying at $45k then we might expect a break through $50k or even more. But for now, it might look temporary to me since the hype of conflict between Russia and Ukraine seems a bit odd. 
Without a doubt it seems that bitcoin is presenting some positive signals and that we could see a price above 50k during the next days and weeks, however it is debatable if we have the strength to remain above that level for a long time as there are still several factors that could be affecting its short term performance, but even then this is a good sign as I think we are going to see some kind of positive movement before this year ends, which will keep alive the possibility of bitcoin being in a supercycle.
We can all expect bigger bulls in the longer term, but we can't guarantee that the downtrend has passed by now. The increase over the last 2 weeks guarantees nothing because FUD is always on the market, so it will only be enjoyed if you don't want to buy. While I might consider selling it for a profit after buying it when it went down a while ago.Right now the bitcoin price is $47K, it's pretty close to $50K and there may be hope that it will break through in a few days.
As many people predicted Bitcoin is finally starting to recover, and now it only takes another 31% increase to get back into the ATH price.
This means that the price of Bitcoin is getting closer to returning to the ATH price, almost all investors welcome this. But as you said, we still
have to be vigilant, knowing there is still the possibility of the Bitcoin price going down again. Because no one can guarantee the bearish trend is
over, indeed a wise move if we have bought Bitcoin since the price of Bitcoin fell below the price of $ 40k. Then now with Bitcoin rising to
the price of $47k decided to sell some of the Bitcoins we have, to be able to make a profit. So if the price of Bitcoin goes back down we can buy
Bitcoin again, but if it turns out that Bitcoin continues to rise and even reaches the price of $50k at least we are still holding some of our Bitcoin.
But there are people who decide not to take profit now it's not a problem, because after all Bitcoin will always be profitable for long-term investments.
Many are now talking about the 50k resistance, which bitcoin should break soon, but it may not happen at the first try or it may not happen at all. Today bitcoin hit 48k and almost immediately rolled back to 47k. So now we have a resistance around 48k, which we need to pass before we can talk about 50k. But I also think April should be bullish.
People speculation is positive so I guess we could really hit that mark as there are so many good news happening on bitcoin as well many people are eyeing to get some to hold for future since bearish days is I think over after some crisis happen in the world. I think the news about Russia using bitcoin for their daily transaction is one of contributing factor on why we see this rise and people find it positive as this is discuss over the mainstream.
seeing some good recovery and trying to reach out that 50k but with this kind of gradual increase then it wont be taking too long on seeing those numbers but of course it would be still need to push up even more further.
Im not really that making myself on expecting too much because this could always be a bumpy ride where assurances would not fit out on that behavior.
At this point we can expect a pullback but the distance it travels first before slowing is why I avoid being negative preemptivily. Here is the longer term chart as I see it and it did add up to bullish outlook a fair while back because of how we handled the lows:
We've just passed about 38% of the recovery from that ATH sell off and 50k if we got there would be about 50% fittingly, also 50k also fits well into prior lows and high prices for weekly bars over the last year. I put most significance behind the 200 day or yearly average and what direction that has but also 50k could be a good fit that means we level off there. At some point immediate gains reduce and profits will be taken hence a pullback but its best not to guess weakness too much before it appears, overall the situation is strong.
We've just passed about 38% of the recovery from that ATH sell off and 50k if we got there would be about 50% fittingly, also 50k also fits well into prior lows and high prices for weekly bars over the last year. I put most significance behind the 200 day or yearly average and what direction that has but also 50k could be a good fit that means we level off there. At some point immediate gains reduce and profits will be taken hence a pullback but its best not to guess weakness too much before it appears, overall the situation is strong.
Many are now talking about the 50k resistance, which bitcoin should break soon, but it may not happen at the first try or it may not happen at all. Today bitcoin hit 48k and almost immediately rolled back to 47k. So now we have a resistance around 48k, which we need to pass before we can talk about 50k. But I also think April should be bullish.
People speculation is positive so I guess we could really hit that mark as there are so many good news happening on bitcoin as well many people are eyeing to get some to hold for future since bearish days is I think over after some crisis happen in the world. I think the news about Russia using bitcoin for their daily transaction is one of contributing factor on why we see this rise and people find it positive as this is discuss over the mainstream.
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The month of April is always been bullish according to past years. Also, we have seen a long-lasting bearish market for more than 150 days so a relief bounce was inevitable. But to be a confirmed breakout BTC needs to stay above 45k for some time. This is one of the psychological zones that many traders are waiting for to be broken so that the market turns bullish.
Exactly, the bitcoin breakout will last long to enable traders to make enough profit from their long term investment. This is the opportunity many traders has being waiting to see to believe that we are finally out from bear market. The price of BTC will stay above $50 before it will finally move to $100 before the end of this year 2022. According to researchers the price will not dump through out this month to allow long term traders to benefit from their trading.
Many are now talking about the 50k resistance, which bitcoin should break soon, but it may not happen at the first try or it may not happen at all. Today bitcoin hit 48k and almost immediately rolled back to 47k. So now we have a resistance around 48k, which we need to pass before we can talk about 50k. But I also think April should be bullish.
Without a doubt it seems that bitcoin is presenting some positive signals and that we could see a price above 50k during the next days and weeks, however it is debatable if we have the strength to remain above that level for a long time as there are still several factors that could be affecting its short term performance, but even then this is a good sign as I think we are going to see some kind of positive movement before this year ends, which will keep alive the possibility of bitcoin being in a supercycle.
We can all expect bigger bulls in the longer term, but we can't guarantee that the downtrend has passed by now. The increase over the last 2 weeks guarantees nothing because FUD is always on the market, so it will only be enjoyed if you don't want to buy. While I might consider selling it for a profit after buying it when it went down a while ago.Right now the bitcoin price is $47K, it's pretty close to $50K and there may be hope that it will break through in a few days.
Bitcoin is in the process of generating a breakout today (Sunday). A close today above 44569 will be the highest close in over 2 months and will break a triple top that has been built during this time in that area. Bitcoin is presently trading at 46667 at 7:00pm Sunday. The next resistance area is at the 50,000 level. Nonetheless, this breakout is a signal that the downtrend is over, meaning that now the bulls can buy with more confidence.
Without a doubt it seems that bitcoin is presenting some positive signals and that we could see a price above 50k during the next days and weeks, however it is debatable if we have the strength to remain above that level for a long time as there are still several factors that could be affecting its short term performance, but even then this is a good sign as I think we are going to see some kind of positive movement before this year ends, which will keep alive the possibility of bitcoin being in a supercycle. Jump to: