Topic: Don't follow the trends, work with price actions (Read 398 times)

Investments in BTC are suitable for a long-term, it can't create a good profit by trading unless you have thousands of BTC. So I assume that trends for btc is a random thing, which actually correlate with real price fluctuations very loosely.

The crypto market is a business market. Well, that's where the importance of updating information. I think we here know that there are many parties that play a role and influence BTC trading so that it becomes fluctuating.

if I'm not mistaken the first one Users or investors: where every decision of their actions can affect the price and market liquidity. Second Regulators and the government: Maybe this is easy to guess. Yes. from the point of view of the regulations they enter into, Third Financial institutions and lastly financial market turmoil due to the geopolitical situation and monetary policy.

The market's day-to-day swings are based on the market's high level of demand and supply. Considering a single trade triggered with big figures can either flip the market bullish or bearish, whales and major firms dominate the markets with fuel liquidity. Price actions are without a doubt one of the most important factors in the market; they provide traders with a complete perspective of the market, as well as solid trade setups and entrances. The majority of traders follow price actions more than trends; however, it all relies on the trader's strategy.
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Price action and market trends are both very important elements in trading Bitcoin. There are some traders believes that prices action is more essential tool because it can provide a clearer picture of the market's behavior and can help traders make more informed decisions. Price action provides also valuable information about actual movements of an asset's price. That being said, it's important to consider that both price and action and market trends when making trading a decision.

As I learned from the news market always comes with price volatility, and vice versa. Looking at the crypto market, I can only say that the actual size of this market is still very small compared to the current economic level, that's why it is easily manipulated in the prices of many different products. . But also strongly agree that the view of real value is taking place, but I understand this is only for people who have experience from the market and they will not get caught up in the information generated in the market. Each period is different, when the goal of investing in this market is clear and consistent, I think the psychological fluctuations from the information are only a small part of the decision to the investment journey.

Trends may be tempting, but price action is the true compass. It's like the heartbeat of the market, guiding your decisions. Stay tuned to the price action symphony and dance your way to success.

btc doesn't need a trend anymore I think, because now btc is on top, because the crypto market is very volatile and very sensitive to economic and political factors and news. so all of these things greatly affect the price of btc itself
but for long-term investors price fluctuations and fuds don't affect it, because they have a target of how much profit they will take in their investment

Yea. Trends shouldn't be relied on solely when making decision on where to invest your money. Sometimes a trend may end up been scam. It has happened to me a couple times, and I know for a fact not to depend on trend. Research is a must,.you should know about what you are investing your money in, and not just jump.into a trade because everyone is talking about it.

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You are right. Trends are good indicators and should be considered as well as price actions when making investment decision. But the OP is saying that trends shouldn't be followed. I totally disagree with that. As a matter of fact, in this space, you follow trend and not try to fight it. If you don't follow trends, you will get left behind.

I'm not completely holding onto the profit I made from holding; just as I have highlighted above, I share my hodlings into two parts in order not to be considered greedy (which everyone desires to earn higher when necessary) and I sell part of it so that I won't completely lose. At this point, I sold a few on my main set-out take-profit limit. And leave the rest; by doing so, I have actually followed my own strategies while at the same time involving myself in another risk of holding, which can either earn me more or make me lose what I have already seen with my own eyes; it's just my decision. I've been working with this for a long time on a few coins, and it has worked for me, but it's not all coins that are actually worth the risk; in most cases, I pick up profit when I see one, sometimes without even waiting for it to hit my target.

So, are you just taking a risk by holding onto the profits you just made without selling them yet? Although this strategy is quite popular, and many of my friends use it, I'm not quite comfortable with it. I prefer using the stop-limit function when the price reaches the target. Expect to make even more little gain because the target profit is already within sight.
At this moment, I'll re-analyze for a while, it could be the same coin or even another altcoin. When I find the right entry point, I'll take profit from my previous trading and start executing for the next one.

The Bitcoin project is very important because we have been seeing the impact of Bitcoin on the market for decades. Although most of the traders made predictions, the predictions are not always correct.Newbies to Bitcoin trading depend on the predictions of others and panic when the market is completely disrupted.The most common mistake Bitcoin investors make is following trends without good analysis and understanding. I think price action is more important than trends for those who want to invest for the long term.

Sadly there are just those that are forced to do the other approaches since they think that's the most profitable. I was one of those people, but good thing I changed my ways to never just follow what strategy other people do. I thought that the only way to trade is by day trading.

From the market's volatility, I just consider hodling like I had done since 2018s when day trading just fails for me.

The good thing about trends is that you can go against it anyway. It's not meant to be purely followed. Rememeber the Elon-Doge-Shiba hype? I was against the hype and I didn't buy the news just because a popular celebrity just shilled the crap out of the coin. I stood my ground for Bitcoin and see where the ATH at that day led us. BOOM! 64k.

We better be patient until the problems on the bitcoin network are resolved properly. Meanwhile, with the current market situation, maybe we can take a break from trading and use our time for other things because the bitcoin market also doesn't experience significant increases or decreases. So it looks like the market will still be like this and if this happens until the end of the month, we have enough time to rest so that when the market recovers, we can trade well because we have had enough rest. I just think like that for now.

Bitcoin has been around for just 14years so you can't say Bitcoin has been around for several decades, if you used years then your statement would had been correct. Those who predicted $100k last bull market, where did they see that happening because it wasn't in the charts. They just give that prediction to make investors fomo and it worked.

You shouldn't invest or trade because everyone is doing it. If you follow trends, you'll end yourself in lose because trends fade away and when that happens people begin selling their tokens and if you didn't sell yours on time, you'll lose as you won't be able to sell high.

I totally agree with you, I'm still trying to figure out how to trade only the price action without looking at where the trend is about to go, for me both works in a synchronize form,  price action makes the trend either ways uptrend or downtrend, price action gives you the historical view of what has happened with the price of an asset in the past and you implement your trades base on current market situation, basically where the trend is currently sitting.

However, every trader uses a strategy that suits his kind of trading style.

Bitcoin recovered from the worse crashes in the past and this one will be no different. The recent events like ordinals will get solved by the devs and bitcoin will be a cheap and fast network again. the market merely represents demand and supply, and it is volatile, but no procedures can be followed to make it more stable. That's why they view bitcoin as riskier than other assets. Price correction occurs in every ATH. Bitcoin's previous ATH happened in 2021. We are currently in 2023 and we are still waiting for new ATH to arrive.

For some reason, this is exactly true. Following trends without good analysis and good understanding means that we are doing stupid decision. However if we are following the hype and FOMO without any awareness to analyze at first. This will be bad enough. However, if someone is having good understanding and experiences to utilize the trends of hype, this may become a very good chance for them to collect more profits. Because, they can utilize the right time to set the token or coins to buy and sell at the right moment. They can utilize other people FOMO or hype to gain the profits. But once more, this is tricky and can be too risky. If this is about Bitcoin itself, Bitcoin trend sometimes will make the price going up very highly, but this can be also the opposite very easily when there is bad news after the time.
SO, in this case, being careful and wise enough is very important to do in investing in Bitcoin and other cryptocurrencies in order to manage and control ourselves to do something better and not based on FOMO only.

I think you can't blame those who follow the trend though, we are in a speculative market, so everyone would be singing their tune As you have said, there was one famous bitcoin modelling who predicted that we are going to reach $100k in the last bull run and everything FOMO. But the price didn't reach that high because after $69k, the bubble has been burst. And it works hand in hand, trend and price action. Because if there are no trend, whether positive or negative, the price will not move at all. So lessons here is that we should be cautious of our trading and the money that we are investing in this market, as the saying goes, invest what you can afford to lose.

The approach to trading greatly varies from person to person, and it ultimately depends on your individual preferences. Different individuals employ diverse strategies, with some following trends while others rely on chart analysis. Personally, I have never adhered to unrealistic predictions and instead make decisions based on what I believe works best for me. I find it profitable to capitalize on market volatility, so I often observe the charts and monitor how they are behaving. I tend to hold my investments until I have achieved substantial profits.

It is true that the cryptocurrency market, including Bitcoin, is subject to various trends and predictions that may come and go. But it is still important for investors to distinguish between short-term trends, market sentiment, and Bitcoin's long-term potential as an asset. The recent rise of meme coins like pepe, for example, has really shown the speculative and frivolous nature of the market. Such trends may be fueled by hype, social media influence, and speculative behavior rather than underlying value. So it's important that you carefully evaluate the fundamentals and consider the risks associated with those trends.

Bud, this was literally me back when I was still starting. I even thought that the whole action in crypto is regulate by some third party, turns out I was wrong all along.
What it led me into?
- Panic selling
- Buying unconsciously. I can even recall those days that I bought cents worth of shit coins just to keep me "at peace" knowing that I still have some coins being held. It kinda became dusts.
- Misc. bad decisions.

In the end, there is just no way that these predictions are hundred percent going to be true. No one "purely" dictates the price. It's just the usual basic supply and demand.

In the short-term, it could be trend but in the long-term it isn't. Back in 2010's, Bitcoin was not in the trend, who knows that Bitcoin would reach this far.

That is why it is called a trend, it comes and goes and does not really settle. In my observations with some of the new investors in Bitcoin, or people new to cryptocurrency, in general, they rely heavily on market trends without seeing the volatile history of Bitcoin. Either they did not do sufficient research or were following crypto influencers and they end up being shocked when the optimistic predictions are just that - predictions. If they have done even just a minimal inquiry about Bitcoin, they will quickly see that it is not a get-rich-quick scheme.

Great points! Trends can be useful indicators, but they should not be the sole factor in making investment decisions. It's important to also consider other factors such as news, regulations, and the overall market sentiment. Using a combination of trend analysis and price action analysis as you mentioned above can provide a more comprehensive understanding of Bitcoin's movements and help make informed trading decisions.

In addition to that, conducting thorough research and being cautious of false information (FUD's) can also help mitigate risks and avoid making wrong decisions.

don't we often read that 95% of traders experience defeat. only a few traders know about the market, but how can we know what transactions people around the world will make. but not a few traders who are successful because of trading, they can treat the market as a teacher and we will continue to learn from the market, so this is another way of investing. whereas volatility is caused by buying and selling transactions that attract each other, and up and down movements are formed in the market

Trends are good indicators because demand simply controls the market price. What's wrong is to sit on a trend wherein it is a changing factor in the first place. Trend is a good indicator but for a short period of time unlike with price actions which determines the trend. Both are valid I guess, it is just the application of these two which results to wrong doings of investors and traders.
Price correction occurs in every ATH. Maybe if you cannot see it, you are in the wrong time frame. Daily and weekly time frames would show a more detailed price actions. But that is indeed true; good price actions lead to good price trends.

In a decade that has been more than Bitcoin, it has been proven that as time goes by, the value of Bitcoin increases, what most people thought were negative about Bitcoin, almost all of them were disappointed in their predictions.
So traders predict where the price is going based on what is actually happening in the market, in short you are right in what you said, you should not go along with the fashion or trend because you are no different from a gambler who bet who just relies on what was said or seen

True, because Bitcoin has a special nature that is volatile so we must follow price action so as not to get caught when a decline occurs, because we year not all predictions will always be right and many are against the flow of Bitcoin because they rely on trends, and some investors do rely on trends for momentary profits, but we must know that trends and second price action we must rely on when investing because both are indeed ways to profit in Bitcoin.

Point of correction, BTC hasn't been around for decades, and also, I do not know what you mean by procedure to be followed so that trading account shouldn't be drained..I would appreciate if you throw more lights on this.
Personally, as much price action is good, trends is equally important. That's because, for every trend, people are making money, so you can tell them trend is bad.

And only with analysis can we determine the time to buy and sell, while people who only predict where prices will move will find it difficult to determine. But don't forget that greed must be strictly controlled in trading. Otherwise, we will miss good moments to buy and sell.

We can follow trends in the market, but we should also analyze to find out what's really going on. Most traders just wait for signals from other people and don't want to analyze them so if we do the analysis ourselves, it will be an advantage for us because we know where the price will move.

And it's best if people who trade don't think that trading is a quick way to get rich. They have to realize that there are times when the market will go up and down and that can be known from their analysis so they can determine what to do.

To bad for doing trades base on our luck since to many events will happen to the market and we cannot get huge chance to win if we don't know anything about latest happenings. Much better be more speculative and resourceful since from this you can learn a lot from those things then also you can plan your next action base on current sentiments made by majority. We cannot accurately say we can earn with this but at least we have good insights on what possible things might happen.

I am of the opinion that the most important indicator that can tell us about changes in the market is the trend. It is global trends that can show whether the situation on the market is capable of changing, or whether it will continue in the current direction.

it can be difficult to work with local trends and we do not need it if we are long-term investors, and not short-term traders. The fact that traders expected the price to rise to 100k was just their forecast, they themselves always say that you need to act according to the situation on the market, if it changes, you need to be able to read the market in a new way. And the trend is exactly what will allow us to capture this moment when the market is preparing for changes.

It's not by force to trade, and yes future trading will drain your account if the market goes against you, I have use spot trading to make a lot of money and that's because I use large amount of money for small gains and those small gains comes in handy for me every week, spot trading is less risky because it's all about timing, try to buy at a low price and sell at a small recovery even if it's just 5 to 10 percent.

If every Bitcoin investors have the same price target for Bitcoin many people will get burn before the price happens, influencers screaming 100k Bitcoin have to do it because some people must believe in 100k per Bitcoin for them to be able to sell and take profit under 100k per Bitcoin, it's a grand playing scheme, in Bitcoin space some people lose so that others can win.

That's what traders do normally, they predict the market based on historical prices, patterns, news, and any other things. They do that to increase their profit cause if we only trade using our luck only we just like to gamble our money out there. We can't 100% accurately predict where the market movement but at least by doing analysis we have a reason why we sell and why we buy.

It's actually neither of those. It's presented by a few as a get-rich-quick scheme because there were a good number of people who were holding or had Bitcoin in forgotten wallets since its early days. Nowadays, while there's still decent earning potential, it's far from making someone rich unless you're already wealthy enough. The average person now can't afford to purchase a single Bitcoin, and even if you do, with it now costing an approximate $28,000, it'll be worth $100,000 or $200,000 in the best-case scenario in the next few years, which is far from being rich, especially in the U.S.A. Thus, it's almost impossible for most of us to acquire a single Bitcoin now, and even if we do, it doesn't even get us close to being wealthy or guarantee us that the price will reach the said predictions; it's probable but definitely not certain.

As for the OP, Bitcoin has been around since 2009; that's a little more than a decade, let alone several decades like you mentioned.

Why do we invest in bitcoin and not gold or real estate? Most of us enter the market because bitcoin's returns are larger and bitcoin's growth period is shorter than other investments. So there is partial truth in saying that investing in bitcoin is a get-rich-quick way, even though it's not comparable to shitcoins.

The capitalization of bitcoin accounts for half of the total capitalization of the crypto industry, this is a huge number that no project can compare, but it is nothing compared to the capitalization of gold, over 11 trillion dollars and 80 thousand billion dollars of the stock market. That's why they view bitcoin as riskier than other traditional assets. We are bitcoin investors, we always want the best with bitcoin. But we need to be realistic to avoid serious damage. Bitcoin is still at risk even if it crashes, don't be too subjective.

Saying that Bitcoin has been around for decades is a huge stretch because it hasn't even been around for two decades yet. As for the market having any sort of design, that's also not true: the market merely represents demand and supply, and it is volatile, but no procedures can be followed to make it more stable. Also, Bitcoin did disrupt the trading market, rising in a matter of less than two decades from less than a dollar per coin to dozens of thousands of dollars per coin.
Finally, as price action "generally refers to the changes of a security's price over time", it's worth noting that Bitcoin is clearly moving up over the years, albeit with temporary setbacks along the way.

Damn right. Bitcoin is not a get rich quick scheme. You will probably get rich if you hold long enough but it is still not 100% risk free. Bitcoin recovered from the worse crashes in the past and this one will be no different imo. The recent events like ordinals will get solved by the devs and bitcoin will be a cheap and fast network again. BTC's marketcap is half a trillion US dollars at the moment. It is too big to fail. Bitcoin can't fail even if it wanted to.

Bitcoin business is not getting Rich quick, but get rich is sure, just a matter of time and also the amount you invested in the Bitcoin or other alt-coins, and what matters again is the entry point of buying matter's a lot in cryptocurrency market, which everyone needs to know when to buy at the bottom line, which is also determine the profits return after the investment.

How is trading bitcoin or trading in general "disrupt" any market at all? Trading has existed since the dawn of humanity. How is it any different today? Trading will always exist as long as there's a market.


Also, today I learned: Bitcoin has been around for several decades already/s

There is an applied strategy of emotional control, but that's not the case here. I practice this emotional control strategy when I am day trading; I know when to stop and when to start, and when to call it a day regardless of whether the trade is in my favor or not. That's where emotional control comes in. I have to control my emotions when I am losing a trade in order not to incur more losses. I also have to control my emotions when I am having a bad day, either with other work activities or with something around me. This is where I have to also control my emotions and not transfer them into trading, which poses a higher risk and trait to every trading practice.

I agree with the greed part. I call it control of greed: me not being too greedy, which might result in me leaving myself with nothing because of a higher expectation of a higher profit. Because I have seen a craze bull run, instead of sticking to my mapped-out take-home profit decision, I started longing for more profit (greed). What I do most times is this. Let's say, for instance, I bought $1k worth of Bitcoin at $16,000 per BTC, which should give me 0.065 BTC, and my target is to sell when the BTC price hits $20k, which should give me an extra $300 as profit if I ever hit my target. In the process of waiting, I see a quick bull run, and I meet the price at $21,000, which is more than what I have been expecting. Looking at the market price chart, I believe that the market will go up higher again. The best thing for me to do at that point is to share my holdings into two parts: sell one part and take both my profit and my invested capital, and hold the rest. By watching the market closely, if the market is to go higher, I will still gain more, but if the price is to drop a bit lower, I will also use the sold-out funds to purchase more and add to my holdings.

Is it not a strategy to control one's emotions? Several factors determine whether someone is successful in managing their emotions or not, one of which is when the asset price is about to hit the take-profit target.
Many people get greedy and attempt to hold on longer, assuming they will earn more profit. However, even if they do achieve more significant gains, it still counts as a failure in discipline.
Emotions become easily influenced when the market experiences a bearish trend, and indirectly, this lack of discipline in controlling emotions can be detrimental in the future.

Price action is something that not all could be able to pull through because it does really require out that sufficient knowledge and skills towards the market and not all does have that kind of intellect and skills on

which you would really be basing up on what you do. Whether we do like it or not in speaking about trends and fundamentals around then it isnt something that you could really ignore because this market is highly
that speculative, which means that you would really be needing to adjust and be versatile on whatever conditions you would be able to face on.This isnt something that anyone could easily deal with
specially when you are really just that a newbie on this space. For those who are old and veterans then it doesnt really give out that assurance that they could really be always having that
precise prediction.

Price action isnt something a trader skill which anyone could acquire.You would really be needing that sufficient skills and experience throughout the market for how many years for you to have
a good grasps into it.

I don't know how others do their own investing or where they make their investment decisions, but for me, I totally avoid market trends. Not just market trends, I also avoid fudz and, at the same time, some kind of hype coming from influencers. This has been the only way I haven't fallen victim to involving myself in a trade that will liquidate my assets.

How I decide and buy a few coins that I find worthy of holding: I overlook the current market price and have a very low ROI budget. A lower demand for high profits actually reduces the risk of losing a trade. Let's use Bitcoin, for instance. I don't buy and hodl Bitcoin because I want to make 10–20 times the profit from my invested capital, or I even buy because I notice the price was about $30k last month or year, and so I expect it to be the same price or more in the coming weeks or months. This is called higher expectation by assumption, which is actually something I avoid. I buy Bitcoin using today's price with the calculation that I will hold it for a certain number of years or until I hit my selling target. This makes me not in a hurry to take out profit. This has been the little strategy that has saved me in this crypto space.

Lol... several decades the user said. That's why we are here I suppose. To teach and as well learn but, making assumptions doesn't always help so much. I would suggest the user be mindful of the information he or she promotes as it could be misleading.

Meanwhile, predictions works to gives some directives on expectations. It okay to be optimistic when the go is good but, you ought to realise and switch as well when it changes. Always doing your own research and having your approach towards certain occurrences in the market.

There have been lots of trend this recent few days about Bitcoin under attack and might soon crash, but the funniest part is that such trend will come and go while Bitcoin still remain strong & still existing, and not only should investors work with price action, because the price of Bitcoin for the past few days have not been favourably, which is enough to had cause doubt & fear, coupled with it's high increase of transaction fee, but rather working with having a specific time frame for investing, since Bitcoin as a currency has been proven to yield great value with time, will be of great advantage.
Moreover, as long as Bitcoin exist, there will always be price prediction which you can't exclude  (both falling or rising) depending on the current market flow, of which non is ever a guarantee and left for the investor to take a calculating risk on the amount of fund he/she can always afford to lose due to it's volatile nature.

Price action and market trends are both important aspects of trading for me, each has its own strengths and weaknesses. Price action refers to the movement of an asset's price over time and can provide traders with valuable insights into market sentiment and potential price movements. While market trends are patterns of price movements that occur over an extended periodand can provide you  with an understanding of the broader market sentiment and direction.

Overall, for me both of them are useful but they should not be considered in isolation. Us traders should use a variety of tools and techniques to more develop a comprehensive trading strategy that incorporates both price action and market trends.

 I don't know how you got this information but it's wrong, Bitcoin if you can do your own research came about in 2009 and if you minus 2009 from 2023 you would be left with fourteen years, that's actually not up to several decades.

One of the best thing to do right now is don't get distracted by people's prediction, I can still remember when Bitcoin reached its all time high, I know many people who still thought that from their Bitcoin would get to even more all time high but it started to plummet, that's the crypto-currency market for you, it's completely unpredictable.

Both are important in bitcoin trading. But it depends on your preference or what kind of strategy you are using to trade. Price actions indicated historical data, analysis, prediction and many other things. You can implement those in order to choose the best position for a trade. But with trends, it is hard to guess what will happen next. So in order to make the best decision, we can use both of them according to our needs and if applied correctly, it can give us a good result. Where you have the option to use both of them, why would you ignore one and focus on only one?

I guess you mean don't follow market sentiment rather than trends, as price action is what forms bullish and bearish trends. But otherwise I do agree with the statement overall. There has been a meme coin trend over the past month or so for example and if anything it hasn't signalled a return of bullish sentiment in the market, in fact the opposite, it's shown how greedy and frothy the market has become in recent weeks.

In my opinion, yes, trends can change at any moment as a result of many factors affecting the market. The crypto market is highly volatile and highly sensitive to economic and political factors as well as news.

Also the volatility is often caused by the manipulation of the whales, so the speculator will be affected by the price movement greatly.

As for the long-term investor, he looks at distant trends, regardless of price fluctuations, down or up.

While you are right that people should not let themselves to become influenced by FOMO and FUD since they are clear attempts to try to manipulate us, I do not agree with your attitude against trends, if you go long on any asset then you need a positive trend to make money, and if you go short then you need a negative trend to make money too, so it does not matter what kind of trading style you use or if you are an investor, you need a strong trend to make any profits, which is the reason ‘the trend is your friend’ is such a popular expression.

Normally, after joining the crypto space, I realized that crypto users are full of speculation; they always imagine what they want the price to be in the coming future, but no record has ever been broken that crypto experts have actually been able to make a hundred percent accurate prediction about the Bitcoin price; it's either they are close to predicting what the price would be or even going higher than what the price can rise to. Whoever is living on the market trend and has not yet gotten used to how the situation in the crypto market can be is just a newbie who has not yet had experience with how the market can be. For example, in the month of March, there were a lot of speculations that Bitcoin would reach $30k, but it failed those who believed so. It was in April that Bitcoin finally reached $30,000. That is just how the Bitcoin price fluctuates and is so difficult to accurately predict. Those who are not yet aware of it will get to know more about it sooner or later.

Even though we are taking Bitcoin price actions we cant still say what direction Bitcoin will go at whatever time and future and this has led to a situation where every Bitcoin market speculator works on speculative Bitcoin market analysis that is, the ride with the trend just like you have rightly mentioned, those that speculate the price of Bitcoin to be $100k were motivated by the price condition of bitcoin at that time, so they were bullish to the point that their lost focus on the volatility and went ahead to make unrealistic statement predicting the price to remain uptrend since at that time, bitcoin was on a bull trend.

your query is more similar to this one -->When Bitcoin will become stable currency?. Because in the topic, OP also asked about BTC as being stable currency not as an asset. (similar context). Well the point is he aslo wants BTC to be used as payment method not just for trading purposes to make money out of it because his intention were reflecting that doing trading of BTC will hurt its image. (you should read this thread out to get better idea of your query).

Now in my point of view, "Halving of BTC will bring bullish then bearish cycle" is a Market trend that you mentioned, will bring FUD and FOMO and we should avoid it, and focus on price action to buy at low and sell at high. Well, i think you are wrong, because price action is only applicable for short period of time and market trends are for longer period of time.

For example, to predict the price of BTC in 2024 we can get help from past charts and many market trends, but if we want to make profit today, then we have to find market trend too, it could be based on week, days, months or years too. So, both price action and market trends are basic fundamentals of trading BTC.

Yes, it's because that Bitcoin is volatile in nature and that's why these actions are gonna happen and essential. While trends, come occasionally.
For those that do day trades, they have to follow the trends and that's how they're making money from it. Jumping from one trade to another and that's making them realize that it is what they need and understand how it's staying for so long. Because they're all temporary, the timing and how long it last will also determine them when they should get out from it.

That's why it's a prediction, the degree to any certainty is miminal but, bitcoin was able to attain its ATH at $69k and that's pretty close to the earlier prediction of $100k. $30k is still a good some but, you could as well commend the currency with how far it came.

When we come to trading the market, its always a matter of strategy and what goes with a trader. No matter what your approach might be, one thing I feel you cannot do is trading against the trend. It would take a lot of nerve and assurance in your trading skill to do that. Unfortunately,, such assurances is the one thing you can't get in trading the crypto market.
Also, there isn't a particular design ot procedure for the market. It just assumes various forms and figuring it out is a matter of how well informed you are on analysis.

I think this thread though it focuses on bitcoin, it's more related or better fit in the trading subboard than bitcoin  discussion.

Following market trends will only result in FUD, FOMO, and other critical barriers. The essential element is price action; bitcoin works mostly with price action. For instance, two years ago, bitcoin was valued at $49,151, and pro traders anticipated bitcoin would reach $100,000, but their predictions were dashed when the market stumbled. The market is designed in such a way that if certain procedures are not followed, it will drain one's trading account. Bitcoin has been around for several decades, and we all understand how important the project is. Most traders predicted that trading bitcoin would completely disrupt the market. Do you believe that price action is more essential than trends?