BTC technicals are against ATH. Liquidate - page 2.

stompix

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Quote from: cryptoadviser on November 30, 2020, 12:37:18 PM

BTC technicals are against $20,000. I don't think holding now is a good idea.
Maybe a good idea is to move the money from BTC to altcoins.

Two weeks later..and the technicals were a bit ...not technicall
And this prediction was coming from a guy who claimed to roll in hundred percent gains and also tried, fortunately unsuccessfully to manage other people's money around here or to charge for advices that would earn you, how much is zero? Grin

Quote from: cryptoadviser on December 05, 2020, 03:14:02 AM

TA works because people see it. People see it so it works. Its a self-fulfilling prophecy.
Work on probabilities and you will never lose money on trading.

TA works because you can see in TA whatever you want, you can put a billion indicators on a chart and eventually one will fit perfectly, nothing different from Professor Pigskin, in your case, you've failed because you've chosen the wrong one.

Quote from: darewaller on December 11, 2020, 02:45:10 PM

This looks more and more realistic everyday

It does? Well, today was the day not like the other three days before. I'm always enjoying reading when people claim that something is clearly going one way only to be proven wrong a few moments or days later.
If it were a bulletproof way to determine the price there would be no more trading being done as we all knew when to sell and when to buy but have no trading partners, in the end, all this is just a gamble, but you don't gamble on the price you gamble on the method you've chosen to guess the price. Same results.

darewaller

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This looks more and more realistic everyday but I am still not taking any chances because it is a zero loss game for me. If OP is right and bitcoin goes down, that means I am going to stay with some bitcoins and "losing money" right now and I will have to wait a lot and will make a profit later on. However, if I am right and it goes up I am going to profit. Both of those situations means I am going to make a profit, in one of them I make money right away, in the other I am just going to wait a bit longer.

When you are a long term investor, this type of ups and downs doesn't really change too much, it does change a bit but not too much, that is why I do not agree with the fact that people should liquidate right away, that just doesn't make any sense right now.

blckhawk

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Quote from: cryptoadviser on November 30, 2020, 12:37:18 PM

BTC technicals are against $20,000. I don't think holding now is a good idea.
Maybe a good idea is to move the money from BTC to altcoins.

If BTC breaks $21,000 confirming a breakout, media will write about BTC and move retail investors will flow in. Then get in.
I think for now, the best idea is to liquidate BTC. And move to alts.

What's your take and why?

Happy to discuss!

Yeah, I've been thinking to liquidate a fraction of my holdings right now. It seems the resistance was too strong which is why Bitcoin couldn't any go up longer above $19k. Currently, the price is hovering around $18k -$17k which I wasn't so sure if the run is over or not, the thing is not to be greedy and go get real here. However, if I am going to liquidate my Bitcoins I wouldn't do it in some random altcoins but rather in something more stable like USDT to preserve the value of it. By then if there's a forecast that it will surge again I can buy it back again.

KTChampions

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Quote from: TGD on December 07, 2020, 12:18:20 PM

Quote from: KTChampions on December 07, 2020, 05:46:39 AM

This is a smart strategy as altcoins tend to rise faster than bitcoin in a global bull market. But as has happened many times, sometimes bitcoin grows and its dominance grows i.e. bitcoin sucks funds from other altcoins, so when bitcoin grows, they fall.

Yeah. In some rare case, Altcoins price follows bitcoin price pump afterwards just like what happened on 2017 bull run which Bitcoin and Altcoins rallies at the same time that result to a huge overall market cap. Investing in altcoin while the overall market condition is uncertain is very dangerous. I don't know if it's advisable for a regular trader to do that strategy buy I believe only few altcoins maintains or rally price while bitcoin is dominating the whole marketcap. You are very lucky if ever you invest on the right coin.

Also, we must remember that there is a difference between new altcoins and old ones. New altcoins can provide fantastic profits under certain conditions. As for the old ones, as far as I know, there is not a single altcoin that would update its high to bitcoin. A funny statistical fact showing that bitcoin beats everyone at a distance.

TGD

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Quote from: KTChampions on December 07, 2020, 05:46:39 AM

Quote from: error08 on December 06, 2020, 02:17:13 PM

Traders who choose to buy altcoins expect a higher return compared to buying bitcoin at the current market condition, still uncertain whether to rise or drop to a certain point like the last time it fell to $16,3k before recover to $19k again. We can expect bitcoin to surpass $20k this year or in January 2021.
In this case, I prefer to buy altcoins if bitcoin manages to break the ath as altcoins will follow the path of bitcoin days or weeks afterwards.

This is a smart strategy as altcoins tend to rise faster than bitcoin in a global bull market. But as has happened many times, sometimes bitcoin grows and its dominance grows i.e. bitcoin sucks funds from other altcoins, so when bitcoin grows, they fall.

Yeah. In some rare case, Altcoins price follows bitcoin price pump afterwards just like what happened on 2017 bull run which Bitcoin and Altcoins rallies at the same time that result to a huge overall market cap. Investing in altcoin while the overall market condition is uncertain is very dangerous. I don't know if it's advisable for a regular trader to do that strategy buy I believe only few altcoins maintains or rally price while bitcoin is dominating the whole marketcap. You are very lucky if ever you invest on the right coin.

RealMalatesta

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Ever since this topic was created, bitcoin has managed to stay above $19k level, no matter how many times we seen sellers try to push it down, it has kept that 19k level and that is something we can't ignore, it is certainly a great deal for all of us. So, I would say technicals could be against ATH as much as they want, but it is not working at all.

Plus it depends on where you look on it, some places may look like it is against it whereas some other technicals shows that we are doing just as we imagine we would do, plus there are some more that says as long as we keep it here for a long time, it will suddenly start to look like going above is more possible, even if it looks not possible right now. So at the end of the day, I still say we have 50%-50% chance of going up or down.

KTChampions

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Quote from: error08 on December 06, 2020, 02:17:13 PM

Traders who choose to buy altcoins expect a higher return compared to buying bitcoin at the current market condition, still uncertain whether to rise or drop to a certain point like the last time it fell to $16,3k before recover to $19k again. We can expect bitcoin to surpass $20k this year or in January 2021.
In this case, I prefer to buy altcoins if bitcoin manages to break the ath as altcoins will follow the path of bitcoin days or weeks afterwards.

This is a smart strategy as altcoins tend to rise faster than bitcoin in a global bull market. But as has happened many times, sometimes bitcoin grows and its dominance grows i.e. bitcoin sucks funds from other altcoins, so when bitcoin grows, they fall.

crwth

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Quote from: error08 on December 06, 2020, 02:17:13 PM

Quote from: crwth on December 05, 2020, 03:18:36 AM

I don’t think you should put it in some altcoin Because Of the possibility of losing its value again and going with the price of BTC as well. I think it’s better to put your capital in stable coins like USDT or USDC just to preserve the USD value of it if it’s what you are aiming for to grow. If you want to earn BTC then altcoins are the choice.

Traders who choose to buy altcoins expect a higher return compared to buying bitcoin at the current market condition, still uncertain whether to rise or drop to a certain point like the last time it fell to $16,3k before recover to $19k again. We can expect bitcoin to surpass $20k this year or in January 2021.
In this case, I prefer to buy altcoins if bitcoin manages to break the ath as altcoins will follow the path of bitcoin days or weeks afterwards.

I guess it would depend on the trader himself because personally, I wouldn't let the value of my capital, whether in BTC or USDT, to depreciate just because of the possibility of earning more or not. As long as my capital remains the same, I would still prefer to trade and profit and not risk another coin continuously. If I were you, I would stick with BTC if you believe it would reach a new ATH this year or 2021.

7788bitcoin

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Quote from: error08 on December 06, 2020, 02:17:13 PM

Traders who choose to buy altcoins expect a higher return compared to buying bitcoin at the current market condition, still uncertain whether to rise or drop to a certain point like the last time it fell to $16,3k before recover to $19k again. We can expect bitcoin to surpass $20k this year or in January 2021.
In this case, I prefer to buy altcoins if bitcoin manages to break the ath as altcoins will follow the path of bitcoin days or weeks afterwards.

The risk is high even if you enter the alts as the entire market is on top and the uncertainty is for every other coin. I am not a huge expert in identifying the price movements well before it happens other than looking at the market and seeing how much volume and buy orders are active and that is how i evaluate my position. I wont be investing in any coin at this point because the market is too high for taking that kind of risk, i might take chances if there is a correction.

error08

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Quote from: crwth on December 05, 2020, 03:18:36 AM

I don’t think you should put it in some altcoin Because Of the possibility of losing its value again and going with the price of BTC as well. I think it’s better to put your capital in stable coins like USDT or USDC just to preserve the USD value of it if it’s what you are aiming for to grow. If you want to earn BTC then altcoins are the choice.

Traders who choose to buy altcoins expect a higher return compared to buying bitcoin at the current market condition, still uncertain whether to rise or drop to a certain point like the last time it fell to $16,3k before recover to $19k again. We can expect bitcoin to surpass $20k this year or in January 2021.
In this case, I prefer to buy altcoins if bitcoin manages to break the ath as altcoins will follow the path of bitcoin days or weeks afterwards.

KTChampions

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Quote from: btc_angela on December 06, 2020, 03:10:42 AM

TA might say that it is against $20k right now, but after a week we haven't seen the price goes under $19k and it's been trading sideways. So I'm not sure if it is a good financial advise to liquidate a week ago as you don't have a entry point right now.

And if you decided to move too altcoins? not much as well, so it better if we just hold our BTC and then wait for another break out to $20k-$21.5k.

In addition to the exit points, you also need to remember about the entry points. Those traders who bought bitcoin at 6k are quite happy with the exit at any level above 10k (it seems to me) - this is a guaranteed profit and its fixation. Obviously, part of the investment can be left in assets in case of further growth, but this depends on the investor and his goals. Some are quite happy to do x2 and leave the market before the next crash and cheap prices.

FanEagle

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I would say that liquidating would be the most wrong thing anyone can do in bitcoin world, we all know that it is something that will continue to rise forever, so why lose all of your bitcoin just now as we are breaching into unchartered territories. This is the moment the real profit comes, right after we are moved beyond what we have seen as possibility so far, because rest of the prices above us are the prices we have never seen and have no idea what will happen.

Only the people with real courage will have the chance to make this work and they will see all the profits from it as well. I would say hold, hold as long as you can, hold like you are Spartan with your brothers beside you and your shield in front of you, hold now so that your children will be capable of living a luxurious life.

btc_angela

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TA might say that it is against $20k right now, but after a week we haven't seen the price goes under $19k and it's been trading sideways. So I'm not sure if it is a good financial advise to liquidate a week ago as you don't have a entry point right now.

And if you decided to move too altcoins? not much as well, so it better if we just hold our BTC and then wait for another break out to $20k-$21.5k.

Filicius

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I am totally aware that this is not the general opinion at all, but to me technicals can be compared to horoscope, sorry for sharing this point of view here.

Anyone who gives financial advice based on TA should consider first how many times did his analysis fail. No one has a crystal ball to know about the future, and TA insight is almost always biased to me. I do know that there are a few ways to make money via trading, scientifically, mathematically, but I don't think it is done the same way most members who share technical analysis on this forum or social media do, which has more to do with pure luck and speculation.

For those learning technical analysts, consider opening your eyes to this possibility just in case. I will consider learning TA better just in case I am wrong too.

blckhawk

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Quote from: cryptoadviser on November 30, 2020, 12:37:18 PM

BTC technicals are against $20,000. I don't think holding now is a good idea.
Maybe a good idea is to move the money from BTC to altcoins.

If BTC breaks $21,000 confirming a breakout, media will write about BTC and move retail investors will flow in. Then get in.
I think for now, the best idea is to liquidate BTC. And move to alts.

What's your take and why?

Happy to discuss!

Well, yeah I will think about this one but I don't think it to convert my Bitcoin into Altcoins, maybe if it is a stable coin like USDT, BUSD, and more because from that I will be more certain that the profit will be safe unlike in altcoins with having no certainty.
Thereby, placing it in some alts makes it even riskier. Yet, alts only follow on the move of Bitcoin thus if it plunged and so will be for most of the alts in the market. You gotta choose your take for this one carefully.

tbterryboy

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What happens to these people when they are wrong? I mean I could come down here, claim that bitcoin will be 30k very soon, can write a whole topic about it, show some charts too, and basically do 30k bidding for all the people who wants it up, but if the price crashes, what happens to me? I get no consequences at all, nobody can do anything about it, at the end of the day if we are actually not responsible for our claims and there is nothing anyone can do about it, why should we care about what we say?

We could lie about what is going to happen all day, in fact we could open up 5000 accounts on twitter, claim with 2500 them that bitcoin will go up, and with rest claim it will go down, next whichever is right divide 1250 and do the same until one of them has MANY times they were right. We need to make sure we do not care about people online who claim they know price movements, it is very dangerous.

Little Mouse

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I don't think one should liquidate now because if you look, BTC looks more stable around $19k which didn’t last for a day last time we had ATH. So, once it can break th $20k resistance, we can see a significant move soon.

Moving to alt is much riskier now I think as most of the major alts have already pumped little to huge. I already have prepared myself before the BTC pump.

KTChampions

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Quote from: davinchi on December 05, 2020, 02:31:07 AM

Do not believe everything TA says, we are in a world where TA means nothing right now and everything is purely human at this point. Humans makes mistakes all the time, not even just about bitcoin, they make mistakes about basically everything. Which means even if TA show that it should be going down, even if people should sell, even if everything basically says get out, people will not do it because there is a hype going around bitcoin and they want to be a part of this hype, which is why they will not let it go.

This is going to be a bit tough because we can't continue to go up forever, hence at some point people will stop, however when they stop it will not be about TA since almost all of us do not look at that to make a decision.

As the saying goes, two TA specialists usually have 3 opinions Grin

I am skeptical about TA even in the stock market, and the crypto has its own specifics and here TA has even less scope/efficiency. As for the current situation, it is very likely that the growth continues and higher levels will be reached.

daarul50

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Quote from: cryptoadviser on December 05, 2020, 03:14:02 AM

Quote from: davinchi on December 05, 2020, 02:31:07 AM

Do not believe everything TA says, we are in a world where TA means nothing right now and everything is purely human at this point. Humans makes mistakes all the time, not even just about bitcoin, they make mistakes about basically everything. Which means even if TA show that it should be going down, even if people should sell, even if everything basically says get out, people will not do it because there is a hype going around bitcoin and they want to be a part of this hype, which is why they will not let it go.

This is going to be a bit tough because we can't continue to go up forever, hence at some point people will stop, however when they stop it will not be about TA since almost all of us do not look at that to make a decision.

And hence the probabilities.
TA works because people see it. People see it so it works. Its a self-fulfilling prophecy.
Work on probabilities and you will never lose money on trading.

Better to trust on data + numbers provided by the TA rather than trust the media that clearly has certain agenda.
That is the principle that currently i am holding on.
day by day i see it is getting clear that the whales and some institutions that holding large amount of bitcoin trying to build a fake momentum for people who know nothing about bitcoin to jump in while they liquidating piece by piece.
The long journey for bitcoin to reach 100000 usd must be halted now , wont be easy journey .

crwth

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I don’t think you should put it in some altcoin Because Of the possibility of losing its value again and going with the price of BTC as well. I think it’s better to put your capital in stable coins like USDT or USDC just to preserve the USD value of it, if it’s what you are aiming for to grow. If you want to earn BTC then altcoins are the choice.

Topic: BTC technicals are against ATH. Liquidate - page 2. (Read 787 times)