Topic: What do you think about the price of Bitcoin now? Take profit or greed? - page 5. (Read 820 times)

That's the decision that we need to decide for ourselves. We have different views on how we look at the situation. You will be more confused if you are seeing different scenarios in your chart readings especially on the overbought and oversold level.

For convenience, just do the usual thing we always consider to follow during the time when bitcoin is on uptrend or downtrend. Buying and selling will depend on your purpose or just trust the result of your fearless forecast and analysis.

I understand your decision because there are lots of people are doing like you when they see the price movement of Bitcoin recent days. Maybe this is a Fomo psychology but you and also those people have the facility to do so. With long-term investors, buy at the higher price when the market begin to develope is not stupid especially with Bitcoin

I'm not suggesting that all of them are bad, but I don't think it's a good idea to listen to "trading experts".

But yea, selling is not totally bad. If you're here to make money, then profit is profit.

There's nothing wrong with selling if you actually need to use the money. I'd actually argue that selling right now might be a great idea if you're going to use the money for personal reasons and for starting a business(regardless if you fail, the knowledge and experience is priceless). On the other hand, selling right now just so you could buy yourself unnecessary stuff is a big big NO.

I am a non-trader too, for now. As a personal strategy, I set a line where I am going to sell my bitcoin, I do not mind the FOMO higher price than what I have sold it because I have needs for the money that will benefit me in the long run. I sort of think of it as diversifying my investments.

selling now is like selling at the bottom

I am looking forward some people will start taking profits or sell their bitcoins bought last all time high to breakeven price, it will start $19,000 - $20,000.
But this time is different compare previous all-time-high, fomo before is really huge compare this time which it's still neutral since $10,000 level.

I've been following some trading experts from tradingview and their opinions have been conflicting. Some believe it's a gathering time for the ultimate bull run while some have an opinion that the buys and sells are balancing out so we would have a decline.
For me, I sold 100% of my bitcoin holding at an average of 17K and bought back some btc from 25% of that at 18K. Sounds stupid but I don't want to miss out incase of a bull run and would dump if I feel it's crashing.

Yeap it's pretty much whatever. I'm totally aware that bitcoin can crash back down from here and I'm completely fine with that as I look at it's potential long-term valuation. I personally just continue stacking regardless of price and I personally think people(especially the non-traders) should be doing the same.

https://dcabtc.com/

What do you think about the price of Bitcoin now? Take profit or continue to greed? I understand how you feel about Bitcoin's price crash in the past. And many people are thinking about taking their profit when Bitcoin go back its old top around 20k USD. If you look at the chart of Bitcoin recent days, you can see Bitcoin continuously  sold down at the price 18.2k USD, it shows that many people had already taken their profit but it was immediately bought around the price 17.5k USD and be supported very well at here

Let's think about what happened next when they had already taken profit? the break of its old top and keep going up? In my opinion, I see the price movement of Bitcoin this time compared to 2017, there is a difference significant when we see the monthly chart of Bitcoin.

1. The first period is from Jan-2017 to Jan-2018

-->There are almost no adjustments, and the price went straight from 1200$ to 20.000$

2. The second period is from Jun-2019 to Nov-2020

--> The price moves in its correct trajectory (maybe Elliott's wave) with some significant corrections.

Beside that, I want to show an interesting information about the difference between BTC flowing into and out of all exchanges.

(Source: https://cryptoquant.com/overview/full/474?window=day)
We can see the red candles represents for a drop in Bitcoin deposits on exchanges and that could be a sign that there is little taking profit here on exchanges (there may be trading on OTC exchanges)

Finally, this is just another view of the market from me. And with long-term investors, you also shouldn't have too much headache about profit taking or not