The market is pretty undecided currently.
Since a few days (after we hit 8300$ for the first time), the price struggles to find a proper level.
We did retest the upper resistance (8400$) as well as the support (7900$) several times now - even today.
Candlesticks are not clear at the moment.
What we definitely can say is:
Overall volume is still strong.
We (finally) found a strong resistance after the sudden rise.
Bulls have enough power to maintain the support level (until now).
We encountered more red candles in the past 2-3 days.
Bulls don't seem to have the power to push the price much higher than 8400$.
So, neither a bearish reversal nor a continuation of the uptrend is confirmed.
(there might be a slight advance for bears if we solely rely on TA)
Topic: Bull or bull trap - page 14. (Read 2108 times)
I think its a good plan to sell at the current price and buy back in after this next dip is over. Don't be afraid to sell after a huge pump because everything must go down at some point. Or you can just play the hold game if you are too scared to day trade.
I'm really confused, I want to know if it's time to cash in or to cash out, suffered lots of losses last year
Who knows? I tend to think it's a real bull because there will be a big event for Bitcoin next year, so Bitcoin shouldn't stay too long on $5000. However every pump brought out a possibility for a dump. Don't be shocked, we would face a correction (I hope it's just a little) in the near future before resuming the positive trends. I'm really confused, I want to know if it's time to cash in or to cash out, suffered lots of losses last year
Just hold and wait, i mean we are already making better numbers than last year and it seems that the price is going up everyday and to think that we were at 3k just 2 months ago seems to me like a very promising sign that it is going to keep getting better, i personally recommend that you just hold and wait to cash out until the Q3 of the years just because that usually the time that others start cashing out as well, but if you have made a significant profit i would just play it safe and not get greedy and just cash out. I'm really confused, I want to know if it's time to cash in or to cash out, suffered lots of losses last year
after this huge spike no one can say where price will go , i think there are less chance of falling you said that you already made loss so its better to stay away from this type of spikes 
I'm really confused, I want to know if it's time to cash in or to cash out, suffered lots of losses last year
After a long bullish trent it is so hard to differentiate price correction and trap,so we just have to go with our instinct.Myself choose the long term and contiue to hold even if the price reaches sloghtly below because we have to remember we started this year at $3000 and now reached upto $8500.
Today it looks like both to me. Either we will continue the rise to $8700 or something like that, or the market will reverse and we are going to retest some of the previous levels. You have to decide which one of these options is going to happen for yourself. I know this post of mine is of no use to you, but I myself am in the same dilemma. I just recently exited a trade I had, and now, like you, I'm wondering should I go long or short?
Just to be clear, I hope for a continuation of the bullish run.
Just to be clear, I hope for a continuation of the bullish run.
I'm really confused, I want to know if it's time to cash in or to cash out, suffered lots of losses last year
Jump to: