Topic: Is it a good time to buy Bitcoin ? (Read 996 times)

You will need to think about it and don't get into FOMO yet. I'm not saying DON'T BUY but you will also consider first the current position of Bitcoin today. Take a recall of what happens in the last bullish season, you can't ignore such scenarios in the upcoming and much better to get prepared than to say sorry.

I suggest you to wait for a while, investing in today's price is a higher risk, better to wait when the market slowed down.
But of course, it's up to you then to listen and take my advice.

If we are talking hands off buy and dont even look at charts or guess the idea of trade or momentum and monetary flow into the blockchain then the simple rule is buy lower and sell after it rises.   So simple yet we find ourselves despondent when being asked a lower price for the same Bitcoin, kinda funny because a normal market you like lower prices but not this one.   Trading involves stop loss and some measure of taking a loss short term to realise greater opportunities and gains by buying lower but most of us arent amazingly accurate and are better served just buying regularly I guess.

Anyhow I wanted to follow up on the trade idea I posted during the week and I mentioned maybe coming back Monday to take the trade and it is lower on the open Sunday into Monday and so it was reasonable to wait yet it is within the same framework for a possible rise or retraction to consolidate.



So daily bars and top rung to the Fib levels is current area 15800 and second strand is about 15500, I reckon thats a reasonable line in the sand to mark if we can hold this higher movement.   Also to maintain momentum which has been considerable lately, the higher prices for this year might rest on this idea holding as support for now or I'd speculate we move into consolidation at lower prices.

There is some truth in your words, but are the current levels really similar to hype and overbought? At the moment we are significantly lower than ATH and it is difficult to talk about some kind of excitement (I remember 2017 very well - now there is not even anything close to it).

This question doesnt have that precise answer because anytime could really be a good time for you to buy bitcoin unless if you are just doing active trade then you would really matter most
even on the slightest price change unlike if you do tend to hold then you wouldnt matter much on what price you had bought.Important thing is that you do able to buy and
accumulate and store it on your stash and wait up for the bull run before making such selling action.Buying should be done when the market is read but most of the time on where people
do doubt when everything is red which it isnt surprising and cant be blamed and for those who do took risk then their the ones been rewarded.

The topic should is it too late to use Bitcoin and the answer is never but if the idea is purely speculation then again its not really correct either as every day the possible trade setup varies.   Its far easier to be correct over years rather then hope to turn a quick 20% as justdimin mentions, thats far too close to luck and a skilled trader will spot a good probability to a trade setup but its still always just a maybe if you make a profit today.      What I really mean by using BTC is within a whole portfolio of assets, as an international value to send and use online it has its use of course and its going to depend on you how useful you think it is.   Speculating price to me is about observing the likely usage gained by others and is this sector expanding or contracting, we always hope the userbase is expanding but sometimes the price will get too hot.
  To answer the OP directly I would argue BTC isnt too hot to touch over the reference of years.   This isnt just a crypto thing, I operate the same general attitude towards gold and is that commodity in a bullish phase over years or not;  I believe both are valid assets to be involved with but never go 100% or be ready to lose when pushed and definitely never leverage up and expect to win.

This topic is a great example of "you are never too late to buy bitcoin" and everyone should see this as an example. OP asked it during $13.5k and was worried that he might have been too late to buy bitcoin, and today it is beyond $16.4k, that is 20% profit right there if he bought at that period.

This is why we should never doubt bitcoins price, obviously at $16k you may think that you are too late, but when the price reaches $20k and breaks the old time ATH and creates a new ATH, you would profit another 20% if you bought from today.

You could have bought ETH and made same type of profit as well, there are many ways you could make a profit in bitcoin but you have to get involved first, sure there are days you may lose money but you will have to wait for them to be over and you will eventually profit, no matter where you get in, you can't profit without getting in first.

I get the impression that now the reasoning about the levels of resistance is meaningless - the movements are too easy and fast. It reminds me of a situation when bitcoin was in the region of 4 thousand and began to grow. Everybody thought that there would be some resistance at 5 or 6 K, but those levels were passed very quickly.

Bitcoin just testing the new resistance level, but $16K isn't strong support yet, it can retrace back to $15,500 but not underneath $15K.
The best price probably around $16,6-$16,8K before a correction occurs, so the best time to buy for Op has passed since he mentioned the price was $13,500 then two days later it spike up to $15,900 and there is no sign it will fall below $14K levels anytime soon.

Bitcoin broke $165k and moving forward, it's inevitable correction simply close to occur. I'd be glad to blow past 20k USD but for now I’m waiting for a major correction. Smells like precisely 2017 again so prepared and calmly waiting.

If your objective is to trade, the price does not matter, you just need to have trading setups, a strategy and precisely apply this strategy

What are the possible level or price for that breakout? If the momentum wont really changed up then we might really see some breakouts and on the sentiment about that interest thing then if thats the case then its still early for us to think about some correction.It isnt really bad to take up some risk on this current market condition if you do decide to make active trades. 15800 is indeed the support but most likely setting up some
SL on that part is somewhat shallow, maybe 15700 or 600 might do but well this vary on certain individual on how much he can risk on.For the question if its good time to buy bitcoin? then for long term aspect then its
always been a good choice but for shorter/active ones then this is where the true challenged begins. 

Its broken above its initial high from the price first reaching this range so arguably its a fair time to enter a trade and hold the recent low as a stop loss.
 

This is only 1hr bars and the blue line is the 2 day moving average but BTC has alot of momentum right now.   Its not a bad idea to risk a long on the possibility that shorts are being forced out of the action and an accumulation of buying across the broad spectrum of participants.   Someone pointed out that google search results shows that Bitcoin has not risen in its interest recently, there is not a rise in BTC being searched for and his take was this is bullish as participation from general public could rise; this is trading talk for breakout potential.   My own take on a disparity is possible weakness but I defer to a more experienced opinion on that.
     This goes against my character as Im really not the risk taking type and I already hold BTC over years but I may enter a trade either today or possibly Monday with a stop loss of about 15800. 

My bitcoin price looks like it will go to a new ATH maybe it will break at a price of more than $20k, because until now the price is still stable between $ 15k it seems impossible if it collapses again and goes back to $10k, but do it at your own risk because it doesn't anyone can provide guarantees against rising bitcoin prices.

The current price is above $15k so close to $16k. The price of bitcoin is stronger these days but we don't know at what price it will heading. If you are a into long term any price could buy and sell when in profit. The market condition these days is good since we observe the price of btc is increasing. Just invest on what you cannot afford to lose since market value is unpredictable.

The market is in good resistance to grow higher than falling backwards. This time it is time to hold than thinking to buy. Right now big players will make large volume buys and tries to manipulate the market. By the time the market will move in either direction. It can go forward to reach $16000 or else down to $14000 or even below. By the time one can buy again than buying at the higher resistance level.

It may be a profitable strategy, but I think cryptocurrency investors are expecting big profits for such long periods of time. On the other hand, if we are talking about investing in conditions of limited resources, then this is a good approach that allows both to accumulate capital and to receive profit from the very first investments.

Price is just going sideways this week, wait for the break either way.    Everyone will give an opinion on whats expected but its better to take part in a price thats actually confirmed in a direction, right now this area is indecision and it can literally go either way from what I've seen.    You are not buying into a bullish channel or I'd recommend buying on the lows, its possible we top here for this year then move later but I dont know till it actually does something new really.
  Similarly if it moves down, you have the benefit of gaining more BTC for the same exchange of currency and also arguably the luxury of time to observe price settling and buying into those lows.   Breaking upwards will give enough time to buy in and allow anyone to be part of the larger yearly price action.

It's an option to take and traders have different view points, whatever your take just make sure that it will favor you and good
understanding behind your decision making is really taking place.

It's your money to take and whatever investment strategy you have, best to make sure that you are knowledgeable with any specific
target that you are aiming,

13k ago and 15k now, I think you need to decide soon. Bitcoin will continue to break through resistance levels to new highs and you'll regret it.

fast profits only have futures traders, to be honest I don't like futures trading,
although it can make a lot of money but it can also make our capital lost,
it's terrible, it's better to buy Bitcoin now on the spot market.