Will bitcoin drop lower?

bitcoin
priceprediction

#2883

What is current resistance?


#2884

Good question, maybe arould 8250, we tested. that as both support and resistence multiple times a few days ago (i’m looking at a 4 hour chart), but i will have to watch how it develops


#2885

Climbing up quite fast now, but not much volume


#2886

The real question is should we sell.
I am awaiting our specialist @tomchristian96


#2887

not unless you are UP.


#2888

I am down by 50%, but still wondering about selling if there is a turnaround…but hard to know where that is


#2889

Yes but then if the downtrend will continue im not sure if just holding is the way to go. Thats why i said im confused :stuck_out_tongue:


#2890

I’m down a lot but I am not watching it everyday. I set a goal and I’m going to hold. The CryptoMarket can change daily. I suggest chilling out and HODL. (hold on for dear life).


#2891

don’t sell for a loss, EVER.

*correction, unless you own Bitconnect


#2892

No I didnt plan on it. i just wanted to catch a turn to the downside, and then set a limit buy for the same price I sold. So if it goes much lower in the next days or weeks I can buy in lower, but if it rises again I will automatically buy back. But its timing it that feels impossible! Missed the prime chance at around 9k yesterday!


#2893

I agree. Buy low and sell high.


#2894

Just do the math and see if you sell on loss right now, how fast you will get the loss back and get gains again. I learned that being strong hand without a real reason or at least mathematical backup is just being blind. I did sold on lost before and in the end i end up making more because of just simple mathetimatical equations.


#2895

I agree, i don’t like blind holding, but it’s better than going into trades that one doesn’t understand and getting rocked. If i don’t understand a setup, i just wait It out


#2896

Another problem is if you’re holding alts (as I do). You would then have to sell those at a loss (BTC wise) and then hope to get the lost BTC back by scalping BTC on the way down. Then you’ll also have to buy back the alts before BTC starts moving too much again, or the alt prices will run away from you. Helluva many variables.


#2897

Yeah I am leaving my alts, as its way too much as you say to sell everything to BTC and back to fiat.

But I have 0.5 BTC and 5 eth that I would happily sell back to fiat if I thought we were going down another 1 or 2k. But as you said, if you dont understand it maybe its too risky, and I dont really :slight_smile:


#2898

I think my plan from now on will be to only accumulate BTC, and not care about the fiat price at all. I will position my trades to gain BTC, not dollar value. If one day I wish to cash out to fiat, I’ll do at a time when the USD rate is high.


#2899

I made up my mind long time ago to put 70% on 1 alt coin and use the 30% remaining btc to buy and trade often as i wanted it. Right now since the prices of NEO is going down i’m thinking of staking some and leave it there to either make me money in the long run or rot and be forgotten.

Although in order for us to make profits from those kinds of investment we need to use fiat to buy NEO or somehow buy on a low price BTC and buy NEO. It might not be a BTC related directly but in the end of the day to go out to take gains you either have a bitfenix to trade USDT/USD or BTC/USD so in the end of the day we will always go back to BTC no matter what Alt we have unless they will be listed in exchanges directly paired with fiat.


#2900

Ya thats what i mainly do, i trade to get btc, with the idea that btc will go up. And i trade btc against fiat, i dont trust tether


#2901

When I got into this, not so long ago, I thought I could focus only on alts and just use BTC for buying/selling them. Boy have I learned.


#2902

Bear markets will either make you strong or crazy :crazy_face: