Will bitcoin drop lower?

bitcoin
priceprediction

#2923

I just didn’t have a useful strategy before, I think. But I’m building one now. In the army, the generals make the strategy, because they have the experience. You don’t ask someone who’s just enlisted to draw up the plans, lol. However, that is the reality when you start in crypto. You just don’t have the experience.

For now, my plan is to probably to hodl. I have experimented with trading, but I’m not any good at it. And I don’t trust someone’s chart on the internet. Especially when there are charts out there showing BTC going in totally opposite directions.


#2924

I think we are in the same boat. Classic case of to early for the next party and to late for the last one. Cleaning up the last party sucks and then just waiting for the next one to start…

I came in after reading and thought I knew what was up till the market turned…it easy to play a bull market but damn this bear is a mean bitch. I find it funny guys who are have green portfolios telling green traders who are in the red what was obvious. It seems obvious now I guess…but without first hand experience one can never know


#2925

Good call. It’s so speculative. My philosophy is when it’s moving down, it’s moving down, and when it’s moving up, it’s moving up. I just try to get in on the relative beginning of the swing trades, top and bottom, not absolute bottom or top.


#2926

One of the first things you learn is to do your own research and not follow others. Well this is our research. If we had listened and sold and it went up more who would we blame?


#2927

Stopped at resistence… waiting for a move down…


#2928

Waiting for it if it goes down or a break out. If it goes up i won’t sell it and if goes the other way around going to take that sweet 600$ gains and buy on a lower price again. :saitama:


#2929

Can I ask at what point you decide to sell? When you see a red candle starting…and what do you do if then it goes above where you sold very quickly, do you just risk taking a loss and buying back again if it continues up? I keep messing this up, and just thought I’d ask…sorry for the noobie questions


#2930

I buy when this three things or indicator are perfectly alligning. Meaning it’s oversold on the RSI and the MACD is about to cross.

And then sell when i’m contented of the gains i will get or when my original selling price prediction will be achieved. I don’t randomly buy but i don’t randomly sell either although selling for me is kind of situational in a sense that i try not to be so greedy. Every trade we all do is taking a risk/loss you just have to live with that demon that your money is considered lost when you start.

When BTC continues to go up and i already sold my BTC into tether then i always look for other coins that will be on an advantage of rising up soon or i hold my tether till it goes down on a comfortable buying point.

Note : Don’t worry keep learning we both are noobie still :saitama:

Copying people that are more smarter than you is better than trying to be smart and fall on your face, this is what i always say to myself.


#2931

move to the 4 hour chart…always one of the first great trading lessons


#2932

Thanks for the info, very useful. So what if you are trying to sell with the intention of buying in lower, you do the exact opposite? : look for it being overbought on the RSI, and MACD crossing the other way?

I dont want to get into day trading really, but I just want to work out how to sell if there is a long bearish move and get back in cheaper. Its too painful to buy high and watch it continue to fall for weeks like recently! There were plenty of chances to get out before, but I just havent been skilled enough to make it work!


#2933

I tend to swicth between the 4,1 and 15. Do you use the 4 hour even when looking for the moment where the tide turns? Seems a bit too zoomed out :slight_smile:


#2934

2 hour is also good and clean :hulksmash: :pepe:


#2935

i will look at 45 for divergence, 2hour is clean to follow. Im not sure your going to catch the tide on the 15…you will be going in and out all like a pedelo in ibiza.


#2936

Try Ichi Cloud. Its a great indicator, everything is on there.You can have a glance walking past and have an idea where everything is.It looks messy but it isnt really.


#2937

Ha thats what I have been doing! Sorry what do you guys mean when you say its clean?

Also, to get MACD, RSI in trading view, do you have to pay?


#2938

you can have 2 indicators for free in trading view, but if you pull up another chart you can have another 2 and so on.


#2939

the cleaner your charting system idicators etc, the better off you will be in seeing the trend.when you first start you do seem to have loads on there and you just go round in circles…also, always look left before looking right on the chart, you need a monitor,trying to see left on a laptop wont help your trading education


#2940

Thanks mate. I dont actually use any indicators! The only guy I understand properly is Dan from the Chart Guys, who seems to mostly follow higher highs and lows etc.

But yes I need to learn a lot more. Where did you learn it all?


#2941

you could start here :bitrocket:


#2942

Funny you should say that, I am a few videos away from that on the B90x!