Will bitcoin drop lower?

bitcoin
priceprediction

#2823

No because i only have 1 alt which is Icon which is already in a ledger. I use my last 30% of portfolio to buy random stuff or to swing anything that my eyes laid on. I think im safer that way since i’m a bad gambler. :saitama:


#2824

But is it really still that save to “cash out” in USDT?


#2825

USD or Euro on coinbase would be safer.


#2826

i usually go for usdt for short time trades and coinbase when i wanna get out for a longer time. Coinbase isnt really the cheapest way out of u know what i mean


#2827

Hi, can you explain to me what method you use to sell and buy in lower? Do you use market sells and buys, limit orders or stop limits? On GDAX you cant set limit orders to buy below the price or vice versa. I just wonder how you make these swing trades when things are moving quickly as it can get intense!

?


#2828

As i said awhile ago i do this for fun because i already achieved my real investment which is ICX. Swinging makes me wanna research more and not get bored of doing real world stuff. The way i do it is very unconventional and for people who can actually stay longer infront of a laptop. I check for patterns using Trading View, i check predictions from people who are expert in this stuff already and try to research more on how they end up giving that prediction and probably the most important before i make a decision is to check all the possible news which guides me on when or where i go out.

I don’t technically do the buy and sell from a news but i use it as a guidelines after all the research and TA that i have done. I’m no expert and i’m meerly a new comer in this community so i try to learn as much as i need.
I never use Limit orders/stop limits just because i’m always there anyways looking at the monitor.

Again this is the most important thing you need to remember the market is always the winner you just need to steal a piece of it everytime and always remember that it could bite you back.

I’ll give you an example what i did just awhile ago “Technically 7 hours ago

Sold my BTC on that Circle on the left which is around 8900$ and waited for 4hours until i see the massive candle stick around 12noon CET on the lower right circle and said if it dips more or not im willing to risk it and bought at 8.5k price.

Note : Spent 5 hours watching it before i even made those 2 decisions. Eventually it will take less time to decide and more trades to come but hey it’s a learning process.


#2829

If you only use TA you won’t get far mate, no one ever got far only using TA.
The media is very important for BTC, if the news is mostly negative and there is lots of fud the price will go down.
But if there is a lot of positive news and people see how promising BTC is, they will invest.

I tried TA when BTC was 5k, well i can tell you no one said btc would be 20k at the end of 2017, so no one can know what it will be in the coming months.

However i can see how much the market cap can grow, last year there was a huge growth in market cap. And if this trend continuous within 2018 it’s normal that BTC will have a trillion $ market cap at the end of the year.


#2830

Thanks for the reply, its very interesting, because I am also new. I dont want to make loads of trades and become a day trader, but I would like to be able to profit even if the market is in a downward trend. I also lost a lot in this crash, and would like to have other ways to make it back rather than just waiting! So I’m just gathering information

So you use market buys, and just pay the fees?

Also, do you put your whole stack on, or just a portion?


#2831

Ya, i think sharing different TA methods could be interesting, they’re all basically measures of sentiment. I know a trader in the traditional market that trades a lot by just looking at volume. That sounds simplistic, but he has lots of exerience and knows how to feel out sentiment

Anyway, i think our TAs would produce different setups, to reflect our different trading styles


#2832

What do you guys think of The Chart Guys on youtube. He seems very level headed, and Im pretty sure he trades almost only on prices, and doesnt use any lines or triangles, fibs etc. I’m certain he does well or he wouldn’t be doing it! Interested to know what others think.


#2833

I drew my support.and resistence differently, but i’m also leaning towards a breakout


#2834

I feel the same. I think eventually it has to retrace to 5k.


#2835

I have the same idea of it, It’s like some therapeutic way to do swing trades for me as my mind never stop thinking of stuff if i don’t do anything productive. I use BNB tokens to half the fee i pay when i trade to lessen the burdens of the fee’s which technically it’s not that heavy anyways. Remember with even 1 BTC you can make 1~2% gains and still end up profitable (Although it only works for people that pay lower % on tax, luckily i don’t yet need to worry about that).

I put a buy order manually and sell just market price really which is probably a mistake but you never learn until you fail on something.


#2836

Thanks. Do you just use BTC to trade? If so why not do it on GDAX where you can trade in and out of Fiat rather than tether?

I dont think a market order is a mistake, if things are moving quickly. I find myself chasing the price on GDAX with limit orders as you cant put them beyond the current price and it can be running away from you the whole time anywa, and its way to fast paced to put stop limits in. Its these very practical elements of swing trading I’m trying to get my head around


#2837

At least in my case it’s because I don’t have 2 forms of identification on me. Can’t register to GDAX.


#2838

I use tether because i live in a country where i’m not a citizen of it. So my passport conflicts with my residence ID and my driver’s license. So i’m forced to use Binance instead of GDAX. Apparently a lot of people are having the same problem. I heard brits that are living in the US cannot make a Gdax account verified because of the same conflict that i’m having.


#2839

Ah thats a shame. Yeah I woudlnt want to leave much in Tether for long. Also I find Binance a little clunky in comparison to GDAX, but if thats what you have then it will do!


#2840

uhmm in my case as far as I know, which is not that much, I only pay taxes for the ammount of money I’d withdraw to my fiat acct, not by the gains I’ve made during my trades.

Anyway, for now I wont worry for either since I’m trying to build more :rofl:


#2841

So I was looking at the chart more, I’m wondering if anyone see’s this developing into a rising wedge? If so, this could turn bearish


#2842

Yeah my friend sent me this earlier too…but I also found various other analysis saying the opposite, so its hard :slight_smile: