Topic: [Guide] Best Way/Timing to Purchase any Coin (Read 210 times)

I don't guess but I know in any month, there are big green candles and big red candles. I would like to wait for big red candles or a few days of red to buy Bitcoin.

You're absolutely correct that DCA strategy does not care much about what price you buy your Bitcoin. It is implying about regular accumulation. I can do something wrong by myself but rather than accumulate weekly, I do it monthly and I can buy Bitcoin each month at beginning, in middle or at the end of month. Depends on when the candles as said.

DAC is a purification for those who do not want to get tired of analyzing the price.
adding any model to it will not make matters worse, but it does not mean that you will always achieve short-term gains.
It is wrong to calculate a long-term method and then take a short-term calculation and compare the results and say that it is logical, but it is better than buying at random or at regular times.

I will look for more details on this method.

Wait for the most negative days of the week?  This is easy with a Crystal Ball, but if you don't have one there is no way to do so.

For example, when will be most negative day of the next week come? We may be near 65k again within 7 days. If you are waiting for -10% daily variation, you may buy only higher than 60k again...

Dca is not about guessing or predicting the future, but about buying along different prices

When I read the OP I was thinking about this. DCA with a shitcoin that will be worth 0 in a few years is worth nothing but losing your money.

If we are talking about Bitcoin I don't see much sense in a system either if you intend to hold it in the long term. If you buy thinking of selling in the short or medium term it does make sense.

In my case, I buy every month and sometimes I make some extra purchases during the month. What I buy now, at least 90%, I'm going to hold until next cycle. If we expect Bitcoin to reach $0.5/1M next cycle, and even more in the following cycle, I don't see much point in a system. I simply invest the money I have available to me at the time.

I agree with you. I recommended people to not rigidly apply DCA. If you plan to do DCA weekly, you can wait for the most negative days in each week to buy. Or you can wait for the most negative days within 2 or 4 weeks to accumulate.

It is better than accumulate monthly than weekly. I would like to do DCA with $400 each month than $100 each week.

Every month, the market has worst days and those worst days are times for DCA.

I have a couple of problems with this.
First is the title, this strategy only works for bitcoin that has a good potential and not "any coin". Doing the same with altcoins could easily result in a big loss.
Additionally I like to use DCA with other things. For example when price is at the bottom it may make sense to use DCA but when it is being reversed and the rise starts then waiting around and setting more buys at higher prices is losing money. Take the past week, the best time to buy was when price was close to $30k not now that it is close to $40k.

You can not say best way, best timing, best price for anyone. Different people will have their best way, schedule and best price area to enter the market.

https://dcabtc.com/

Dollar Cost Averaging is a method to simplify your investment and it is good for long term investors. Even they are unprofessional, the method help them to easily accumulate and ignore all ups and downs of the market.

DCA does not require in-depth knowledge about TA. You can simply accumulate each month or you can make your plan as if price in one month has more than 10% of negative change, you accumulate it on the market. If one day, price falls -15% to -20%, ok, click on the buy button and accumulate more Bitcoin.

Thanks examplens

I know people who buy Bitcoin or any other coin every Monday like once a week.
So, that's why I used that example. Also, it's of July 2021 itself, so didn't wanted to make it look like I am selecting a favoring dataset.

I think the interval is too small to prove this technique effective.

Can you simulate for a 6 month interval? Buying every 15 days VS buying using this RSI stuff?

Personally, I don't think that anyone who wants to DCA will do that within a small interval such as 20 days....

This technique is really helpful and newbie-friendly. A non-techy person could use this and they will no have reason to say it is difficult.
We should also explain in a short brief what is Stochastic RSI. So, in short, Stochastic RSI is considered a momentum indicator, which we will also use to identify if the current coin is oversold or overbought.

As OP says,  Stochastic RSI crosses below 20 is considered a perfect time to buy, because it can be considered that it is oversold.

Base on the caustion of this text, op I don't think investor's have a specific time or a particular time for purchasing cryptocurrency more especially bitcoin, because is not every investor is ready to monitor the negative impact of cryptocurrency market before purchasing a crypto, from my discoveries concerning crypto sphere it's somehow obvious that while people falls victim of getting lost to cryptocurrency market is the process of buying or purchasing any kind of coin with larger amount or higher amount, and when the coin depreciates a little they will rush and sell which is caused by impatient of holding a coin for long periods.

I must follow this thread, this seems to make sense to me but I must first test it few weeks.
Nice share OP.


and don’t forget, If you buy after few red candles and after that, you'll see new red candles, don't panic and sell them immediately. the most common mistake.

I think some will really take TA to purchase bitcoin. I agree with seeing many red candles is the right time/timing to buy bitcoin. It is also essy to buy bitcoin since many are selling their bitcoin compared to buying. Even with the image provided above, I mostly see red and not so much about green. Just my opinion though.

Buy when you see red candles that is what the best time to buy crypto currency in my opinion!

Long term investors does really take TA to purchase bitcoin?

Sorry, If that is the right way because I am just buying when I see sell everywhere...

You can't tell investor, when and and how many years they are to hold there investment, and from December last year till some good month for the price of Bitcoin this year, there wasn't any halving, so I don't think if am an investor I would Invest thinking of halving, I have not seen many jalviy but my major bull run wasn't about bitcoin halving, I think a good investor research the market and halving or not knows what the want or see in the market, and if the see that the can can call-off their investment and if not the can hold on for as long as they want.

Great advice there. For newbies who prefer not to use trading view, there is the old fashion way of going to the coingecko website, look at the 30 day chart, and buy on the dips. HODL until 2 years after the Bitcoin halving and then take profit

Hey Investors,

I am sure most of you guys are really new to Crypto world and might be using techniques like DCA to create your own portfolio for future/long term investments. Guess what? For you guys, I want to share a really great technique on When to Purchase any Coin. NOTE: This is a guide comparing DCA to my technique. Please read carefully if you are really looking for maximum profits out of your investments.

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Let's begin.

I am Joe, I have $400 to invest. Someone on Internet told me to start with DCA and I am doing real good until one day, ImThour showed up with his technique on how to buy any coin at right time. Here is a quick difference of Average Cost of Buying via DCA and His Technique.

Average Cost via DCA (Bought $100 worth of BTC Every Monday): $34174.25

- Day 1 (5th July, 2021): BTC Bought @ $35274
- Day 2 (12th July, 2021): BTC Bought @ $34264
- Day 3 (19th July, 2021): BTC Bought @ $31780
- Day 4 (26th July, 2021): BTC Bought @ $35379



Average Cost via His Technique (Bought $100 worth of BTC each Time): $32545.5

- Day 1 (5th July, 2021): BTC Bought @ $33590
- Day 2 (8th July, 2021): BTC Bought @ $32659
- Day 3 (13th July, 2021): BTC Bought @ $33095
- Day 4 (20th July, 2021): BTC Bought @ $30838



Damn, That's a difference of almost $1628.75 in Average Cost of Buying.

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What's the technique? It's really simple.

1. Go to https://www.tradingview.com/chart/
2. Select your Coin you want to buy
3. Set Chart Timings to 4 Hours
4. Click on Indicators and add Stoch RSI
5. Only Buy when Stoch RSI crosses each other below 20.
6. That's it, you have bought at the perfect time.

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Thanks for reading till this sentence. Not sure if someone posted this before. I have never seen someone suggesting this before and surely, it's an easy way to invest in most of the coins in the market.