Topic: At what point do you stop buying the dip? - page 5. (Read 780 times)
You should just wait to see how low the dip can go. There are indicators to find this out like the RSI and also you need to zoom out from 4hour chart, daily to weekly so that you can compare how the prices dip to its oversold price. I wouldn't be buying until I see it reaches the oversold line and then prices have to go sideways first before deciding to buy. This is just what I learned from someone I've also follow because I profited thru his analysis.
I will still buy and invest little buy little for now, because the original price i bought already decreased about 60%+,
so i will keep buying for now until the price of BTC going back to $63k and ETH go to $4k+ again.
This is a good moment to buy again and again, and wait until the price skyrocket again.
so i will keep buying for now until the price of BTC going back to $63k and ETH go to $4k+ again.
This is a good moment to buy again and again, and wait until the price skyrocket again.
Think about it this way, the more over-extended the dip the more profit you can make but the chances its not a dip are much higher. Hence when BTC was rallying it barely dipped on some occasions, such as only giving maybe 5% dip, but those dips were always profitable. However now with a 50% dip, sure you can make tons of profit if it breaks ATH again and goes to like $75K however the fact that it dipped so much is not good.
When there is a small 5% dip, people dont panic. When there is a huge 50% dip, people usually panic and there is going to be tons of sell pressure and the first rip we get will most likely all want to sell. So its possible this might be like 2017 when we got to $5K and then dipped all the way to $3K before regaining our rally, however keep in mind what happened when we got our 50% dip from $20K to $10K late 2017. Everybody bought the dip and got rekt.
When there is a small 5% dip, people dont panic. When there is a huge 50% dip, people usually panic and there is going to be tons of sell pressure and the first rip we get will most likely all want to sell. So its possible this might be like 2017 when we got to $5K and then dipped all the way to $3K before regaining our rally, however keep in mind what happened when we got our 50% dip from $20K to $10K late 2017. Everybody bought the dip and got rekt.
I learned that buying the dip on a site like coinbase isn't as good as setting limit orders because with them you can buy at a much lower point in the future and see if the market hits it or not. If it doesn't then you can buy as needed. If it does then you've saved a lot of money that dollar cost averaging would have cost you.
I think many other exchange platform can allow to pend your order and not only coinbase
I bought in the 40K range and now it is in the 30K range.
Not knowing the exact time or deep to refill from is the challenge of crypto. Now you have lost around $10,000 and no guarantee that more deep won't come. I'm sure you have felt you bought at a deep but now it keeps going down.
That is ok if you've bought at those ranges. You're in for the long term and every single buy you do will count in the future.
I will only stop buying if I don't think that there's no more sense in the market. But that's unlikely to happen for the top coins that we're always talking about.
But for the meme coins and whatsoever, there's really no sense IMO to buy them that's why I'm starting to be more serious with my long term hold.
Will really always vary on what coin you would really be targeting to buy neither a top coins or into those low cap coins or in low ranks.If its really worth to hold or not I will only stop buying if I don't think that there's no more sense in the market. But that's unlikely to happen for the top coins that we're always talking about.
But for the meme coins and whatsoever, there's really no sense IMO to buy them that's why I'm starting to be more serious with my long term hold.
but always remember that you should only spent or invest the amount that you can afford to lose or something that you wont rely as a source of income to sustain
your daily living because crypto profits isnt really something that you can rely.
Buying the dip is something that someone cant really do such thing easily since there are several indications for you to consider first before on doing it.
when I have no more money to buy the dip, because as long as I have money to invest in cryptocurrency, then I will definitely continue to buy the dip, because I believe that in the future the money I invest now will definitely increase to 10x-100x, therefore I don't want to losing the current opportunity (buying the dip) to get a big profits in the future.
That is ok if you've bought at those ranges. You're in for the long term and every single buy you do will count in the future.
I will only stop buying if I don't think that there's no more sense in the market. But that's unlikely to happen for the top coins that we're always talking about.
But for the meme coins and whatsoever, there's really no sense IMO to buy them that's why I'm starting to be more serious with my long term hold.
I will only stop buying if I don't think that there's no more sense in the market. But that's unlikely to happen for the top coins that we're always talking about.
But for the meme coins and whatsoever, there's really no sense IMO to buy them that's why I'm starting to be more serious with my long term hold.
The main rule is never to try to catch the falling knife no matter what.. Buying dip is luck + trading skills + experience, finding the top-bottom is gambling with leveraged trades. Focusing on the long-term trading results is healthy than trading blindly on top bottoms or trying to get the dip points. Just focus on the long term gains and you are good to go. Instead of chasing the bull market or bear market will lead to the REKT sooner or later. The long term trading or investing is the key for avoiding the huge losses, write down your goals and always stick to your main trading plan which can be extremely dangerous if you avoid it.
Been in this space since 2016 so I experience the bull run of 2017. To me it felt good enough back in early May and I was content that maybe we were at the top for this one. Then I started watching some YouTube videos that made it seem like we were in for a few more corrections. This "made sense" and was buying the dip when it went below the 50 K range. But it seems if I keep buying, I will be eating up more of my profits now then I want to spend. There is a price point where the money one spends to buy the dip comes out of one's profits so much that one is no longer making as much money to make one's time worth it.
I learned that buying the dip on a site like coinbase isn't as good as setting limit orders because with them you can buy at a much lower point in the future and see if the market hits it or not. If it doesn't then you can buy as needed. If it does then you've saved a lot of money that dollar cost averaging would have cost you.
I bought in the 40K range and now it is in the 30K range.
At the end of the day it depends on what you think it is what we are seeing, the strategy is called buying the dip not buying the crash, if you think we are seeing a crash then the best strategy is to stay out of the market and not buy until your experience tells you we are close to the bottom.I learned that buying the dip on a site like coinbase isn't as good as setting limit orders because with them you can buy at a much lower point in the future and see if the market hits it or not. If it doesn't then you can buy as needed. If it does then you've saved a lot of money that dollar cost averaging would have cost you.
I bought in the 40K range and now it is in the 30K range.
However if this is just a big dip and you bought while on the way down several times then you will be fine as the price will quickly recover, personally I think this is the most likely scenario and the one I think will happen, however you could set a limit in the case you are wrong, for example you could use 50% of your fiat to buy at several levels during a dip and keep the rest in the case you were wrong and it is a crash and you can buy close to the bottom giving you a better average price for your coins.
Been in this space since 2016 so I experience the bull run of 2017. To me it felt good enough back in early May and I was content that maybe we were at the top for this one. Then I started watching some YouTube videos that made it seem like we were in for a few more corrections. This "made sense" and was buying the dip when it went below the 50 K range. But it seems if I keep buying, I will be eating up more of my profits now than I want to spend. There is a price point where the money one spends to buy the dip comes out of one's profits so much that one is no longer making as much money to make one's time worth it.
I learned that buying the dip on a site like coinbase isn't as good as setting limit orders because with them you can buy at a much lower point in the future and see if the market hits it or not. If it doesn't then you can buy as needed. If it does then you've saved a lot of money that dollar cost averaging would have cost you.
I bought in the 40K range and now it is in the 30K range.
I learned that buying the dip on a site like coinbase isn't as good as setting limit orders because with them you can buy at a much lower point in the future and see if the market hits it or not. If it doesn't then you can buy as needed. If it does then you've saved a lot of money that dollar cost averaging would have cost you.
I bought in the 40K range and now it is in the 30K range.
Jump to: