Taking profits but don't be afraid! - page 2.

mikeywith

legendary

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be constructive or S.T.F.U

Quote from: exstasie on May 25, 2019, 01:38:58 AM

Bitcoin tends to surprise us in both directions

As always indeed Roll Eyes

, that is one reason why i am not much into predicting an absolute price or time when trading btc, i prefer to look at it as it develops, just like i did at 5.8-6k , i was shorting it, got stopped, opened long positions despite the fact that i "THOUGHT" we were going down, thinking where the price might go, and following the actual price are two different things.

what we have now is a large triangle that i am looking to trade, a close above 8.4k is a go for 9.8k , a close below 7600 is probably a straight fall to 6.8k , these are the only numbers i am looking at, and i know very well that we could be stuck in a sideways market for a month or so after the next move.

exstasie

legendary

Activity: 1806

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Quote from: mikeywith on May 25, 2019, 12:52:33 AM

if you look at the chart, you will notice that the bottom was market as soon as the cloud appeared , and the first time the price enters the cloud , it heads to the top then drop near bottom , happened twice , in 2012-2013 and 2014-2015 - and then price collapses to a bit pass the middle of the cloud which was about 40% in 2015 and from 10k , 40% will put it us back at around 6k, it's too much to be honest, but i am not ignoring the possibility at all.

Bitcoin tends to surprise us in both directions, always going further than expected. 40% is near the limit in a bull market context, but we've seen it several times in the chart's history. If we see a significant reversal off the $10K area, the $6K zone is where I'd bet on.

For now I'm not going to speculate because we could blow right through $10K. Lips sealed

mikeywith

legendary

Activity: 2268

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be constructive or S.T.F.U

Quote from: figmentofmyass on May 22, 2019, 11:06:42 PM

what do you think about masterluc's projection laid out here: https://bitcointalksearch.org/topic/m.51025897

The consolidation we had for the past a few days might very well give the strength needed to rally up to 10k , however I don't tend to agree with the correction all the way to 6k from there.

however, just for observation, I have been watching the ichimoku cloud since 3100$ > https://bitcointalksearch.org/topic/ichimoku-cloud-says-3100-is-the-cheapest-bitcoin-will-ever-be-5087271 , and the projection you quoted matches with it.

if you look at the chart, you will notice that the bottom was market as soon as the cloud appeared , and the first time the price enters the cloud , it heads to the top then drop near bottom , happened twice , in 2012-2013 and 2014-2015 - and then price collapses to a bit pass the middle of the cloud which was about 40% in 2015 and from 10k , 40% will put it us back at around 6k, it's too much to be honest, but i am not ignoring the possibility at all.

anyhow as we speak there is a very nice triangle forming up, a break out either direction might fire up some fast movement.

exstasie

legendary

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Quote from: bitcoindusts on May 23, 2019, 03:01:57 PM

There's not much to profit from the price difference bitcoin made lately.

If you haven't made money trading Bitcoin the past few weeks, then hang up your hat because trading isn't for you. Wink

This volatility has been a godsend for my bank account (and my Bitcoin wallets).

Would you rather be in the $3,000s doing another 3 months of sideways? I didn't think so.

ngusmin

copper member

Activity: 496

Merit: 0

To take advantage of crypto must be able to eliminate fear, and for this year crypto conditions are recovering, and that could be an opportunity to take advantage.

Whaleagent

member

Activity: 117

Merit: 14

Quote from: BitHodler on May 23, 2019, 06:20:00 PM

Quote from: bitcoindusts on May 23, 2019, 03:01:57 PM

There's not much to profit from the price difference bitcoin made lately.

Maybe not for you, but for enough traders it is profitable. Every minor price movement can be a worthwhile scalp with leverage. How do you think a boring asset such as gold is being traded? Leverage is key.

Quote from: bitcoindusts on May 23, 2019, 03:01:57 PM

If holders are not in a hurry and don't need money that much, better leave their bitcoin secure for now in their wallet and wait patiently for a real bull run in the market.

Why do you assume that people speculate with their entire coin stash? In most cases people's speculative coin stash accounts for less than 10% of their total long term hodl stash.

As for the 'real' bull run you're talking about, it can't get much more real than going from $4000 to $8500 in a short period of time. Your 'real' bull run definition is probably based on a 500-1000% increase.

In bitcoin there are no 'minor' movements, minor movements are 2-3% which is considered huge in stocks. Even with a 1000$ investment, a 2-3% gain is still 20-30$ in one trade. That's huge, this market is definitely the best for small investors if you know what you are doing.

Yes, sentiment has clearly switched, trends too, only the monthly trend left, all the others are already in a confirmed uptrend.

MFahad

hero member

Activity: 2478

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Eloncoin.org - Mars, here we come!

Quote from: arpon11 on May 17, 2019, 03:55:19 AM

I wake up this morning and when I tried to refresh my wallet, I findout that bitcoin has lose over $700 from it high of yesterday! Immediately, "this thought come into my mind, don't be afraid, it is taking profits time", new confident come into my mind and I developed another hope that bitcoin is far strong now, better and menture now than in 2017. I will like to encourage us to keep holding and buying more at this time as bitcoin is on the way to the moon! Though, "this is not a recommendations for you to make investments decision"!

Your recommendation is good and courage-able for us. But now bull has started on the ride, day by day bitcoin price is going to up and i think it is giving us courage and confidence, but still it is not selling price, we should wait for more time, at least bitcoin will be double like $20000.

LimLims

sr. member

Activity: 1204

Merit: 272

1xbit.com

Quote from: Nahl on May 23, 2019, 04:49:41 PM

I was consider those dropped are more likely just an another corrections price and look at the price in these few days seems it was recovering so don't have to worried about that because until today the price still strong at range $7000 above and i think small corrections is usual in the bitcoin price movement and all we have to do is don't have to panic

In case of Bitcoin, i would say that don't be panic at all.
If you see the recent growth graph then Bitcoin has already increased a lot.
But the things that is concerned is that, compared to last 3 days the price is falling down.
So now it is not the time to panic.
The only thing is to do is to prey so that Bitcoin keeps on increasing.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: bitcoindusts on May 23, 2019, 03:01:57 PM

There's not much to profit from the price difference bitcoin made lately.

Maybe not for you, but for enough traders it is profitable. Every minor price movement can be a worthwhile scalp with leverage. How do you think a boring asset such as gold is being traded? Leverage is key.

Quote from: bitcoindusts on May 23, 2019, 03:01:57 PM

If holders are not in a hurry and don't need money that much, better leave their bitcoin secure for now in their wallet and wait patiently for a real bull run in the market.

Why do you assume that people speculate with their entire coin stash? In most cases people's speculative coin stash accounts for less than 10% of their total long term hodl stash.

As for the 'real' bull run you're talking about, it can't get much more real than going from $4000 to $8500 in a short period of time. Your 'real' bull run definition is probably based on a 500-1000% increase.

Nahl

legendary

Activity: 1652

Merit: 1000

I was consider those dropped are more likely just an another corrections price and look at the price in these few days seems it was recovering so don't have to worried about that because until today the price still strong at range $7000 above and i think small corrections is usual in the bitcoin price movement and all we have to do is don't have to panic

bitcoindusts

sr. member

Activity: 1050

Merit: 269

Quote from: Adriano2010 on May 17, 2019, 10:13:44 AM

I also think who want to take a profit can take now, but i think the gainers will be the long holders because bitcoin should value way more and if will hit a new ATH then a good profit can be made.

Its always been said that those who hurry often lose. There's not much to profit from the price difference bitcoin made lately. If holders are not in a hurry and don't need money that much, better leave their bitcoin secure for now in their wallet and wait patiently for a real bull run in the market. The problem others experience sometimes is they need the money and they can't that long any more but if they've regarded their holdings as real investment they will not touch it until maturity time comes.

UNOE

sr. member

Activity: 791

Merit: 271

This is personal

Quote from: JimboToronto on May 19, 2019, 12:41:00 PM

You don't take profits by selling Bitcoin. You are taking your profits by buying Bitcoin.

Every dip is a chance to take profits by selling your dollars or other fiat currencies. Every time you invest your bitcoins by using them to buy dollars, you are risking them.

That of course is assuming any intelligent person would rather hold Bitcoin than mere fiat currencies.

Take profits by shorting BTC instead. You could end up with more Bitcoin wich means more dollars in future, with this way you never lose dollar value if you are correct on market movement. Close short position and open long position when you think that Bitcoin could go up.
If you are not sure what are you doing, then dollar cost averaging isn't bad idea for you, or just hold Bitcoin and come back after 2 to 3 years to take profits with method above. Good luck my dear friend.

EdenHazard

legendary

Activity: 2674

Merit: 1048

But sometimes you have feel the profit from your investment. Don't continue to buy because you can add your capital with the strategy, I mean when you bought bitcoin at the lower price and its price increasing then you can sell it at that time. After that, you may know the price bitcoin never increased continuously because it will find a correction. Then, when the correction came that is time for you to buy again at the lower price so as your bitcoin will add because you has got profit from the selling before the correction came. Do these thing as long as you can, maybe it will help you to spend money to buy bitcoin.

arpon11

sr. member

Activity: 882

Merit: 282

Quote from: ethereumhunter on May 23, 2019, 02:02:55 PM

Quote from: radjie on May 23, 2019, 12:51:28 PM

Quote from: leowonderful on May 22, 2019, 06:19:41 PM

Looks like attempts to break up from this range have failed so far and a further breakdown from this range could be on the books, though it seems we've bounced a bit from around $7500 on Bitstamp and the fall's stopped for the moment. Hard to tell what's going to happen next at the moment, though I would say there's a chance we could eventually return back to $8K and perhaps break through again as well. Added a bit to my own long in the $7600s, will see how this plays out.

Until now, the price range of bitcoin has often touched prices around $ 7000, this was due to continued market price corrections. but it is possible that in the coming days market price movements will again touch $ 8000, even if there is a subsequent pump, it is very likely that market prices will continue to increase.

Yes, we are still at $7000, but now, it seems the price wants to get high because I see the green candle came in this day. So we can hope that tomorrow, the price will break $7,900-$8,000 like before. But still the situations cannot be predicted, and we could see another down of the price again if the market rebounds to the lower price. But for a long-term, I still believe that bitcoin will increase higher and the price will touch more than $10,000.

Many of us here has started understanding how this market work and traders or investors must take profits. Many newbies especially those that has not spent time in cryptocurrencies market are panic when bitcoin is building a channels for correction before resuming its uptrend and to us that has experienced on this market we see this as a normal thing and expected thing to happen to the market at that particular time. The next push may create another high for this year 2019 and that may keep bitcoin above $8500 for some time.

ethereumhunter

hero member

Activity: 2912

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Leading Crypto Sports Betting & Casino Platform

Quote from: radjie on May 23, 2019, 12:51:28 PM

Quote from: leowonderful on May 22, 2019, 06:19:41 PM

Looks like attempts to break up from this range have failed so far and a further breakdown from this range could be on the books, though it seems we've bounced a bit from around $7500 on Bitstamp and the fall's stopped for the moment. Hard to tell what's going to happen next at the moment, though I would say there's a chance we could eventually return back to $8K and perhaps break through again as well. Added a bit to my own long in the $7600s, will see how this plays out.

Until now, the price range of bitcoin has often touched prices around $ 7000, this was due to continued market price corrections. but it is possible that in the coming days market price movements will again touch $ 8000, even if there is a subsequent pump, it is very likely that market prices will continue to increase.

Yes, we are still at $7000, but now, it seems the price wants to get high because I see the green candle came in this day. So we can hope that tomorrow, the price will break $7,900-$8,000 like before. But still the situations cannot be predicted, and we could see another down of the price again if the market rebounds to the lower price. But for a long-term, I still believe that bitcoin will increase higher and the price will touch more than $10,000.

Whaleagent

member

Activity: 117

Merit: 14

Quote from: mikeywith on May 22, 2019, 10:38:18 PM

Quote from: Whaleagent on May 22, 2019, 05:33:41 PM

My charts show a strong bullish uptrend.

We all look at the same chart, but from different perspective.

The 8.5k was the last high we made a year ago (july 2018) for this trend to be bullish it has to close above it , make a new high and not close below it, for all we know this could play out as a double top and head back down to make a new lower low. it is unlikely but the possibility is still there, i am not sure how are you viewing this as a confirmed change of market direction, but i would like to see a TA from you.

How was 8.5k the last high? LOL. That's the last high in the monthly chart, not the daily chart, why would that be the last high in the daily chart when bitcoin has consitently closed a ton of consecutive days with higher highs and higher lows? What kind of TA are you using mate?

radjie

sr. member

Activity: 1792

Merit: 264

Quote from: leowonderful on May 22, 2019, 06:19:41 PM

Looks like attempts to break up from this range have failed so far and a further breakdown from this range could be on the books, though it seems we've bounced a bit from around $7500 on Bitstamp and the fall's stopped for the moment. Hard to tell what's going to happen next at the moment, though I would say there's a chance we could eventually return back to $8K and perhaps break through again as well. Added a bit to my own long in the $7600s, will see how this plays out.

Until now, the price range of bitcoin has often touched prices around $ 7000, this was due to continued market price corrections. but it is possible that in the coming days market price movements will again touch $ 8000, even if there is a subsequent pump, it is very likely that market prices will continue to increase.

el kaka22

legendary

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www.Crypto.Games: Multiple coins, multiple games

People need to gather up some fiat in order to buy even more later on, right now there are enough buyers to ensure as soon as sells stop the price keeps going back on the resistance levels. Which means if you sell right now and not during the support line you are actually helping us, if you sell during the support line you are making us go low but if you sell now and buy during the support lines you are making those lines even stronger.

If you sell now and not buy during support and wait until resistance and then buy there you are actually increasing the price a lot more than the rest because breaking the resistance is the important thing. That's why taking profits at the right place but buying at the right price is quite important and should be done.

shesheboy

full member

Activity: 714

Merit: 114

Quote from: Indrawan77 on May 23, 2019, 01:47:28 AM

Taking profit is absolutely common thing

No meyt its not a common thing because the price of cryptos dont oftenly increase and pump . Whats common for crypto users is that they only hodl .

Quote

when you think you hit your target then you can cash out to enjoy the result,

Cashing out quickly and cashing out all what you got isnt really a good idea because what if the price continues to increase more ? If you can earn more , you can also enjoy more

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holding or buying bitcoin for now is for long term, because the price already a bit high so it might be risky to try to make profit from the dip

Bitcoin is for both long and short term . Only skilled users can possibly profit from the dip , so if your not one of them , its better if youl wait for a while .

Indrawan77

hero member

Activity: 1274

Merit: 516

Taking profit is absolutely common thing and when you think you hit your target then you can cash out to enjoy the result, holding or buying bitcoin for now is for long term, because the price already a bit high so it might be risky to try to make profit from the dip

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