Never catch a falling knive - page 3.

ampere

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

I think you have to be very specific when it concerns falling knive. Because in context, a falling knive means a dip in price of crypto currency tokens. Also, the core reason why you should not buy a falling knive is to ensure not to buy a dipped token that would dip more and more in few days.

Instead you buy the falling knive when its at the bottom; that way you are assured to some extents. OP did not indicate if this applies to spot trading or futures; if you trade futures; you get liquidated when the knives fall; your stop loss could be our saving grace.

cyriljundos

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i think its normal that bitcoin may be in dip right now. bitcoin has been pumping for the last 2 weeks and right now bitcoin is slowly going down. if bitcoin price will go down in these coming days or weeks maybe its time to invest in the dip. after the fall there is a comeback, surely bitcoin will still be pumping again and it will reach $60000.

Kittygalore

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As everyone has already said, if you know how the market works and you know what you are doing then you can catch that knife without the worries of a metaphorical injury. It will bounce back eventually and I think that the dip is a good opportunity/time to buy more bitcoin than you could get when the prices were still climbing.

geegaw

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Not unless you know where the market is heading and you believe that this is just a short correction which I think traders can still make money. Though, its hard to trade on a down trend many are still taking risk because they know what they are doing and they didn’t panic at all. Bitcoin try to stay above $50k today, but it failed to do so and maybe bear trend is coming.

Only a few traders know what they are doing and what they are going to face in this market, they know methods of surfing and cutting losses whereas the vast majority of others just rushed through this game without analysis, typically the trend towards trading leverage, a lot of people here love to take hold of this falling knife and liquidation messages continued to appear. Once bitcoin has crashed, it is best to get out of this spiral, don't try to calculate the recovery point, we can't know until we lose too much

tbct_mt2

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

A falling knife is dangerous only when people don't know where is the support and resistance and don't have idea how long they are willing to let their orders and positions open up. If they participate in the market, opens a position and are not willing to exit with a draw, they will highly exit at big loss at bottoms. At the price around bottom where they should hold tightly, they exit the market.

Bitcoin is in the bull run and corrections are healthy for higher levels to be reached out. Don't worry, it is not a falling knife that you will see more often in bear market.

MWesterweele

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Quote from: taufik123 on February 24, 2021, 01:23:26 PM

Quote from: Xinarae* on February 24, 2021, 08:55:42 AM

Good traders focus not only on Bitcoin, but a few coins with good potential and ongoing development. For example, Ethereum, BNB and several other coins that are in the top 10 of CMC.

Bitcoin is only the main price reference because Bitcoin movement affects all altcoins. Bitcoin is more promising, but there should be some coin backups to choose from for other benefits, when Bitcoin is sideways.

Diversifying a capital and not investing in a one basket alone was already a common tactics of a business investment even in a real business and this was applicable in any areas of business and investment. Here we have now a price correction a lower than almost 3% from the last ATH of bitcoin. A sharp knife falling indeed, and yeah if we can't decided wisely how we will gonna respond to it, we will ending up hurting ourselves by wrong
catching up or pickingg up of the knife.

milewilda

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Quote from: taufik123 on February 24, 2021, 01:23:26 PM

Quote from: Xinarae* on February 24, 2021, 08:55:42 AM

Not all market conditions are the same for investing to be an investor you have to try to understand the market signals. Good traders prefer to invest in bitcoin but do not despair if the price of this currency goes down, they can solve the problem by waiting patiently in the end if the price of the currency continues to fall then this is the best time to invest it is not possible to make more profit in small quantities. That is why no knife injury can harm traders understand the market by analyzing it properly.

Good traders focus not only on Bitcoin, but a few coins with good potential and ongoing development. For example, Ethereum, BNB and several other coins that are in the top 10 of CMC.

Bitcoin is only the main price reference because Bitcoin movement affects all altcoins. Bitcoin is more promising, but there should be some coin backups to choose from for other benefits, when Bitcoin is sideways.

Diversify as much as you can if you do able to do so and never just rely on one source of income or profit because it is much more ideal if you do really have some other way on making profit
without the need of stalling or simply just wait for some opportunity for the market to move.When you do get involved into this market then never ever remove into your mind
about the probabilities of crashes and pumps because this had been a typical thing that can happen on this place.There are things that could be learn basing off on your own
experience.

Catching falling prices? You can make some average costing in forex terms but this one would definitely needing some deep reserves aside.

isaac_clarke22

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Quote from: el kaka22 on February 23, 2021, 01:51:12 PM

~

I remember that day. It was insane actually for Bitcoin to even go below 6k. Back then as well in 2018, I believe it stabilized for a while in 7k then crashed as well
Well I guess many could still buy right now cause why not. Maybe don't buy instantly from just a sharp drop but when it reaches the floor, there's surely a reason to buy at least a bit now

.

taufik123

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Quote from: Xinarae* on February 24, 2021, 08:55:42 AM

Not all market conditions are the same for investing to be an investor you have to try to understand the market signals. Good traders prefer to invest in bitcoin but do not despair if the price of this currency goes down, they can solve the problem by waiting patiently in the end if the price of the currency continues to fall then this is the best time to invest it is not possible to make more profit in small quantities. That is why no knife injury can harm traders understand the market by analyzing it properly.

Good traders focus not only on Bitcoin, but a few coins with good potential and ongoing development. For example, Ethereum, BNB and several other coins that are in the top 10 of CMC.

Bitcoin is only the main price reference because Bitcoin movement affects all altcoins. Bitcoin is more promising, but there should be some coin backups to choose from for other benefits, when Bitcoin is sideways.

Xinarae*

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Not all market conditions are the same for investing to be an investor you have to try to understand the market signals. Good traders prefer to invest in bitcoin but do not despair if the price of this currency goes down, they can solve the problem by waiting patiently in the end if the price of the currency continues to fall then this is the best time to invest it is not possible to make more profit in small quantities. That is why no knife injury can harm traders understand the market by analyzing it properly.

Noctis Connor

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

Some of them are making it advantage because they're waiting for the price to be dump and giving them another chance to purchase bitcoin so they can invest or use it into another investment or trading, maybe those who invest at first thinking bull run will never stop why? Because too many news from social media than bitcoin will never fall and people are keep investing in it and those companies who already put their profit into bitcoin seem nices but when it comes to this they can easily lose profit into a second I must say that this kind of situation there are advantage and disadvantages.

BuNga_cute

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I like the way the opening post provides advice, but the term only applies to traders. Because smart traders will not rush to buy Bitcoin. Have to wait
for the Bitcoin price to get really low, to make sure they can get the knife on the floor. So as not to get hurt when taking the knife. For me now deciding
to become an investor, the term is not appropriate. Because investors do not have a problem buying Bitcoin at any price, the most important thing is
to be patient with holding Bitcoin until it reaches the sell target.

SirLancelot

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Quote from: paxmao on February 23, 2021, 04:13:23 AM

If you are not familiar with this term, just look at the bitcoin price as now. There it goes!

I must say I wasn't aware but I should also say that despite liking it, I won't agree to it in the case of Bitcoins. Imagine replacing the world knife by gold would give a whole new meaning and bitcoin has shown in past that it has that tendency to rise with double the speed it fell and reach even higher limits than ever before.

Yes, if we were talking about stocks market, I might have agreed with the saying and keep in my mind for future but this doesn't just apply here I think. The same might have been whispered into the ears of investors last year around the same time as now and people would have dumped their coins for awfully low value and never purchased again. Those who actually had the courage to catch the falling knife, are able to also enjoy the rewards now.

Murpheus

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Quote from: FinneysTrueVision on February 23, 2021, 06:56:41 PM

That saying doesn't make a lot of sense when it comes to trading because you can never predict the future price with absolute certainty. If I see that the price is way down from where it was just a few days ago then to me this looks like a good opportunity to buy more. The overall trend is still upwards so even if the price continues to drop for a little while I am sure that I will eventually make a profit.

Well said..
Shorting the Bitcoin is a stupid move...
Its like going short on gold...
When overall gold has always been on the bull run irrespective....

taufik123

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when the price goes down and the strongest support can be destroyed, then catching the falling knife at the right time (next support) is best, but you have to use gloves (don't ALL in) to back up when the price continues to fall.
Prices will not continue to fall, but when there is a downtrend the price will continue to be played and will continue to fall. we should be able to read where the final price will stop by analyzing it. Money Management will be needed in these circumstances.

FinneysTrueVision

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That saying doesn't make a lot of sense when it comes to trading because you can never predict the future price with absolute certainty. If I see that the price is way down from where it was just a few days ago then to me this looks like a good opportunity to buy more. The overall trend is still upwards so even if the price continues to drop for a little while I am sure that I will eventually make a profit.

Pokapoka124

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I don't see much of a issue here. There was bound to be a correction at some point. A little dump and FOMO is already sweeping the market. No more talk of $100k...the crypto space is not for the weak

Hamphser

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Quote from: DarkDays on February 23, 2021, 05:06:11 PM

Quote from: BITCOIN4X on February 23, 2021, 03:42:57 PM

I didn't expect that today I will see the crypto market collapse so quickly and have made the market cap drop more than 15% based on CMC as I write. The altcoin average was affected by the decline in the price of bitcoin which is currently trading at a price of $46,700+ and I've seen it fall. I don't think 2018's history is being reborn today which might be considered a sign the pumping period has ended. I am sure the market will return to normal and the market capitalization will rise again.

I agree. I like to stay positive against today's market horror which for some this was to be expected. Looking at the percentage drop, relatively speaking this drop is only erasing the gains from the past 1 week, which to be fair was all too fast. This is just the panic sellers getting out while they can.

I believe this is not the end, but a normal correction which can last for 1 week or so, before seeing proper recovery.

People who arent get used to this market will definitely saying that this isnt right but for those who had already some experience then would see that this would be a typical stuff to be seen or common.
For people thats aware on how this market works will really not be bothered with this drop.

Eventually we are seeing the price is starting to climb up once again.Good thing that i do able to buy at the bottom and sell off on the current price.
Rinse and repeat and you will surely make money.

DarkDays

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Quote from: BITCOIN4X on February 23, 2021, 03:42:57 PM

I didn't expect that today I will see the crypto market collapse so quickly and have made the market cap drop more than 15% based on CMC as I write. The altcoin average was affected by the decline in the price of bitcoin which is currently trading at a price of $46,700+ and I've seen it fall. I don't think 2018's history is being reborn today which might be considered a sign the pumping period has ended. I am sure the market will return to normal and the market capitalization will rise again.

I agree. I like to stay positive against today's market horror which for some this was to be expected. Looking at the percentage drop, relatively speaking this drop is only erasing the gains from the past 1 week, which to be fair was all too fast. This is just the panic sellers getting out while they can.

I believe this is not the end, but a normal correction which can last for 1 week or so, before seeing proper recovery.

Murpheus

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Quote from: Johnyz on February 23, 2021, 04:52:45 PM

That’s true, you really have to wait for the bottom and wait for the signal of the trend reversal. For now, you just have to enjoy watching Bitcoin falling and be ready to buy more when its the right time. Don’t panic, and stay calm if you didn’t do any stop loss then prepare to hold it for long.

There have been 2 bullish engulfing candlestick already on BTC... And 3 for ETH...
Could that not be enough?? Just asking....

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