I went long at 65k, but now I'm kinda worried about a slow decline from here. Anyone have some technical insights or thoughts?
Should I keep longing Bitcoin or is it time to sell?
19 replies 395 views
shard_2013Full Member
Posts: 268 · Reputation: 287
#2Jul 11, 2017, 03:42 PM
What use are you using? If it's high, close it. Better to buy BTC, put it in a non-custodial wallet, and just hold for now. If you're only at 1x or 2x use, you could be okay, but nobody really knows where Bitcoin's headed.
You went long and now you're asking if it's time to long? If we say it's a good time, will you hold? If we say no and predict a drop, will you cash out? I mean, Bitcoin's at 70k right now, so you're in profit, but it's clear you haven't got a solid plan.
Not a pro here, but I think we're consolidating. Price is bouncing between 67k and 71k with some manipulation. If you're in at 65k, you're in profit, but it sounds like you're just not satisfied. Maybe try a trailing stop?
WildMatrixNewbie
Posts: 55 · Reputation: 22
#5Jul 12, 2017, 12:32 PM
Forget the use talk. Going long from 65k seems solid, but don’t expect immediate gains back to 90k. We could drop or move sideways between 60-70k for a while. If you're using use, be careful. Spot trading is way safer.
quantumaltHero Member
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#6Jul 12, 2017, 03:07 PM
Best move now is to buy Bitcoin and hold long-term. Low risk, high potential upside. If you're in and out too much, you're likely to lose. Just hold it and wait it out.
Bitcoin's finding support around the 200-week EMA at about 68k. Looks like we might see a correction similar to past cycles. If you're buying, do it gradually and wait for more corrections. Bottom could be just above 50k.
If you're thinking long-term, now's a decent time for dollar-cost averaging. Sure, it might dip more, but if you can't handle that, consider waiting for a clearer bearish trend. I’ve already started my DCA, and even if prices drop, my average cost should be solid.
block_alphaSenior Member
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#9Jul 14, 2017, 08:44 PM
Market's uncertain, and you gotta think smart about buying or selling. Not the best time to long since Bitcoin might drop again. Those who are long now could get liquidated without warning.
In the short term, Bitcoin's price might bounce around, but long-term, it should rise. If you have cash, don't go all in at once. Use DCA. Buying the dips historically pays off, but it's your call.
If you're anxious about your position, just close it. Most of us are holding, but not in futures. I think you should pocket your profits and see what happens next. The analysis out there isn’t looking great for bulls right now.
Totally get your fear bearish trends can be rough. Usually, declines in such markets are slow, so it’s understandable to be uneasy after going long at 65k.
bridge_2009Newbie
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#13Jul 15, 2017, 12:25 PM
Bitcoin's decentralized, and price swings are wild. Long-term holding is key for success. If you can ride out the volatility, your chances of profit increase.
Crypto's wild. Some orders can get liquidated in a day, and both shorts and longs are at risk. If you trade at this level, manage your risk don't ignore it.
whale_omegaMember
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#15Jul 16, 2017, 10:20 PM
You’ve already taken a long position, so you should have some grasp on the market. Asking for opinions here could just muddy the waters. Stick to your strategy.
Great entry point if you ask me. You’ve got a solid position. If it starts dropping slowly past 72k, then we might see a dip, but if it bounces back to 74.5k, we could be in for a ride.
nick.orbitFull Member
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#17Jul 18, 2017, 12:54 AM
Seems to me you might lack trading knowledge. Futures trading is risky. If you're worried about a drop, it’s probably best to close your trade. Do your own analysis next time.
Markets are always uncertain, but the volatility we’ve seen lately is just part of the game. It’s about what you read from your charts. If you see a potential long from 65k to 70k, go for it.
How long are you planning to keep your position open? And what use? You can long if your use is low, but keep an eye on the funding rate for longer holds.
How long are you planning to keep the position open, and what leverage are you using?
You can even long right if the leverage is very low but be mindful of the funding rate as well if you are to keep the position for a long time.