I don't have a specific point of demarcation; that's not what I do. And I'm not suggesting you can't trade the long side of a bear. But I don't see any horns just yet.
Is the crypto winter over?
- Thread starter schizo
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Fair enough. I plan to add to my short term long btc perp futures trade when bitcoin goes above $27k so that's my safe zone for short term trade
For me, bear market was over when US made banking changes - fundamentals unlimited banking insurance for deposits money printer go brrr
BTCUSD to hold its $25k position for another 2 weeks.
Bouncing through this level is one thing but holding the level is another thing.
Just the break through alone is not enough.
Yes, I agree. btc just went below the $25k level a few minutes ago
I predicted a few days ago that bitcoin will go above $30k this week, so far, it's been going well, every day is higher level but in my mind, above $27k and stays there will be a major confirmation of this move and not just another bear market rally
Still holding on to my short. But might have to bail out if it goes back up.
I hate short term trading. Bitcoin just wicked down so hard all the way to $24.2k, wtf???
Too many leveraged long traders like me have ptsd of the $25k level
As you know, I've only been actively following BTC for the last 2 months. But already I have a ton of *suspicions* surrounding its price moves. Sometimes, it looks more like a pump and dump penny stock. I'm not saying this just to bash BTC. I've said I believe BTC is poised to go up in the long run. But there's definitely a lot of manipulation going on.
But if you're a long-term trader, just close your eyes and enjoy the ride.
Yeah, short term price action can be unnerving, sometimes it pays just to walk away from computer for a few days.
BTC has had a couple of days of strong moves so it needs to consolidate, but atm, BTC is relatively safe imo, the bias is upward.
But if you're a long-term trader, just close your eyes and enjoy the ride.
I'm a long term bitcoin investor (hodler) but a degenerate short term trader (gambler)
I'll give it a couple of hours and close the position and book the profits (hopefully there's still profits)
I think we're at the beginning of a new cryptos bull market and should focus on positioning with other cryptos (non-leverage). Last bull market cycle, generational wealth were made with them
My portfolio is up 6 figures on this btc move the past few days with no stress since it's long term (edit: it was a recovery move, as was down about the same amount on btc move down from $24k to $19k)
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Closed the long btc perp futures position @ $24,600, profits a little over $20k (was $27k when I woke up this morning, sigh)
Anyway, will try to stay away from trading, gonna pay all my defi loan and look for opportunities on the cryptos space