Actually it is hard to tell when the real peak is.
If suddenly more investors came in it will be another pump.
Even with the day traders around, they will problems in telling whether they should sell or not.
You could look at news about one coin then maybe one of that news could be the reason of its increase.
Monitor the market of it. It might take a while to see it but it will be clear if you are a real follower.
Topic: How to figure out the top? - page 2. (Read 297 times)
Hey there! Everyone knows the golden rule of trading - "Never buy at the top". But the question is how can I figure out that the current price of the coin is now at it's top and won't grow more? The first thing that comes to my mind is to monitor the amount of buy and sell orders and the time when markets are opened / closed. But anyway I'm startong this thread aiming to hear some usefull tips from experienced traders.
Personal experience mate, I only used my common sense and trading instinct. If I feel that someone that coins is really being pump and pump later. I tend to get out and sell it at the price which I think would be the top price of it. As an example, I sold bitcoin at prices from $18,300, $18,600 and then $19K. I dumped a few of my stash and just bought it back again when it dip at $12K-$13K and it looks like my instinct is correct. Of course I also looks at the graph, but I'm not that technical though and I believed that TA is not applicable to our market because of its volatility.I'm not saying that I'm always right, but sometimes I book order to my advantage. Maybe if you are in the trading that long you will instinct, as opposed to panic selling.
In trading/investing we always want to maximize our earnings, so we want to sell at the point that it will reach the max value it can reach before the price correction but it is very hard to know on what point a specific cryptocurrency price will stop growing or increase, this is why most traders prefer buying whenever there is a drop in value (because it is more likely that a coin price will increase if you buy in dips) and set a target profit price on when they will sell it because no one will ever know on when will other trader/investor take their profit after the increase in price and of course we don't want to be last one. maximizing your earning is good but being greedy is not.
Sure. Buying in dips is a great idea but if the price pf the coin is going down and it seem pretty low comparing to the previous price it can still get lower and is not a fact that it will recover later. It seem to be a safer option to buy coin when it already started its recovery but then comes a question that I've asked at the first post because some coins can double their price after you thought like "yep, thats a top".Hey there! Everyone knows the golden rule of trading - "Never buy at the top". But the question is how can I figure out that the current price of the coin is now at it's top and won't grow more? The first thing that comes to my mind is to monitor the amount of buy and sell orders and the time when markets are opened / closed. But anyway I'm startong this thread aiming to hear some usefull tips from experienced traders.
I like this topic because it has always been on my mind. I have always wished to know how to identify the 'top' and 'deep'. I look forward to learning from the experts in crypto trading here.
well of course you gotta monitor everything! i personally always check platforms such as CoinJournal, the Merkle, CoinIdol and I loooooooove youtube channel that Cointelegraph has!! It's hilarious, I am officially a fan
Lol you joking right? I don't know if you are but I sincerely hope so because those mediums will probably be lagging a few days behind what is actually happening and you don't want to miss out on getting a better price. I would follow the coins themselves closely because all coins are different and it won't be one magical day where a top is had for every single coin.
Hey there! Everyone knows the golden rule of trading - "Never buy at the top". But the question is how can I figure out that the current price of the coin is now at it's top and won't grow more? The first thing that comes to my mind is to monitor the amount of buy and sell orders and the time when markets are opened / closed. But anyway I'm startong this thread aiming to hear some usefull tips from experienced traders.
I like this topic because it has always been on my mind. I have always wished to know how to identify the 'top' and 'deep'. I look forward to learning from the experts in crypto trading here.
Hey there! Everyone knows the golden rule of trading - "Never buy at the top". But the question is how can I figure out that the current price of the coin is now at it's top and won't grow more? The first thing that comes to my mind is to monitor the amount of buy and sell orders and the time when markets are opened / closed. But anyway I'm startong this thread aiming to hear some usefull tips from experienced traders.
It's really hard with coins that are pumping like crazy, with anything else just look for support/resistance levels and try to stick within those margins. With coins that are pumping just sell out gradually so you're not disappointed if you miss the exact top.
Hey there! Everyone knows the golden rule of trading - "Never buy at the top". But the question is how can I figure out that the current price of the coin is now at it's top and won't grow more? The first thing that comes to my mind is to monitor the amount of buy and sell orders and the time when markets are opened / closed. But anyway I'm startong this thread aiming to hear some usefull tips from experienced traders.
The old adage "buy the rumor and sell the news!" aptly applies in crypto. Coins almost always peak with some news making the perfect time to sell. Also try to buy at or nearest the 24hr low.
Hey there! Everyone knows the golden rule of trading - "Never buy at the top". But the question is how can I figure out that the current price of the coin is now at it's top and won't grow more? The first thing that comes to my mind is to monitor the amount of buy and sell orders and the time when markets are opened / closed. But anyway I'm startong this thread aiming to hear some usefull tips from experienced traders.
In trading/investing we always want to maximize our earnings, so we want to sell at the point that it will reach the max value it can reach before the price correction but it is very hard to know on what point a specific cryptocurrency price will stop growing or increase, this is why most traders prefer buying whenever there is a drop in value (because it is more likely that a coin price will increase if you buy in dips) and set a target profit price on when they will sell it because no one will ever know on when will other trader/investor take their profit after the increase in price and of course we don't want to be last one. maximizing your earning is good but being greedy is not. 
Hey there! Everyone knows the golden rule of trading - "Never buy at the top". But the question is how can I figure out that the current price of the coin is now at it's top and won't grow more? The first thing that comes to my mind is to monitor the amount of buy and sell orders and the time when markets are opened / closed. But anyway I'm startong this thread aiming to hear some usefull tips from experienced traders.
You can check the information like complete price movement, coin circulation in the market and marketplace usage. So try on the coinmarketcap.com. There are many site like this coinmarketcap site.
If there is frequent fluctuations in the market you can make the investment on the concern coin according to the value on it.
Now all the altcoins are dumping from yesterday. So check carefully while you are going to invest on the altcoin.
It will be hard in the beginning but after you gain experience you will get the feeling of it.
I suggest you research some coins you like, good projects. Monitor them for a long period and this will make you see opportunities when to buy and when to sell. Therefore you can figure out the top or the bottom. The key is experience.
I suggest you research some coins you like, good projects. Monitor them for a long period and this will make you see opportunities when to buy and when to sell. Therefore you can figure out the top or the bottom. The key is experience.
well of course you gotta monitor everything! i personally always check platforms such as CoinJournal, the Merkle, CoinIdol and I loooooooove youtube channel that Cointelegraph has!! It's hilarious, I am officially a fan
Hey there! Everyone knows the golden rule of trading - "Never buy at the top". But the question is how can I figure out that the current price of the coin is now at it's top and won't grow more? The first thing that comes to my mind is to monitor the amount of buy and sell orders and the time when markets are opened / closed. But anyway I'm startong this thread aiming to hear some usefull tips from experienced traders.
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