The trend is your friend if you know how to identify it)) - page 4.

AicecreaME

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Quote from: aliborn on April 21, 2022, 12:34:30 PM

How to determine the trend for bitcoin?

Share tools or your opinion on determining the turn for bitcoin.

The topic is interesting because correct knowledge of the Bitcoin trend will help predict the direction for 98% of altcoins according to my observations.

RSI (14), to spot divergence. Check your price chart, look for higher highs and higher low for uptrend, and lower highs and lower lows for downtrend. You could also see it on the volumes, the supply and demand of each coin. Honestly, determining a trend is easy, especially if you're updated on news and on their twitter update for their recent projects that could help the coin to pump or dump.

zaesvlas

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It's very well described in the title of the thread. In general, many tools can be called friends if you work with them correctly and know how to use them.

TheUltraElite

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Quote from: aliborn on April 21, 2022, 12:34:30 PM

How to determine the trend for bitcoin?

Your topic title and your first question shows that you are confused, which I understand. Cheesy

Quote

Share tools or your opinion on determining the turn for bitcoin.

Usual technical like RSI, MA along with the market greed index, but do check the charts and see what was actually happening before that. If you are trying to follow the trends for short term gain you are risking more than you can profit. Trends are used better on advantage if done in long term.

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The topic is interesting because correct knowledge of the Bitcoin trend will help predict the direction for 98% of altcoins according to my observations.

Trend is not always fixed. You can say that since bitcoin is going up, after 10mins it is also going to go up - changes can occur suddenly. But the time factor is important here. If you are going for the long term, like I said, you can profit from the trend by knowing when to buy and sell.

palle11

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Quote from: aliborn on April 23, 2022, 01:09:48 AM

Using multiple timeframes can bring us closer to understanding the trend, its beginning and end.

It seems to me the basic thing with which I want to understand. Could you tell us about your experience in using multi timeframes?

Especially longer time frame like weekly and monthly. They give the direction of price wave and this will happen at the long term except that there will be a news that can shift the move for sometime and after that the move continues but the risk for traders who feel very comfortable with the price directional movement and not guiding their trade with stoploss is that at the change of direction, then they begin to lose heavily.

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Quote from: aliborn on April 21, 2022, 12:34:30 PM

How to determine the trend for bitcoin?

The trend for Bitcoin has always been up for over a decade now. This is why veteran investors will tell you they don't look at charts before buying Bitcoin. They just buy whenever they have need of it. Only a few of them look at charts to take profit while most of them are less concerned about price when buying. Since trend is up for Bitcoin, it simply means no one can be wrong buying at any point of entry or level.

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The topic is interesting because correct knowledge of the Bitcoin trend will help predict the direction for 98% of altcoins according to my observations.

Yes, your observation is right. Sometimes I use that technique too if I need to acquire more units of whatever token I'm hodling which aren't "chartable" on my app. I just monitor Bitcoin chart to have a vague knowledge of where that token price could be moving to.

Alisha-k

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Fundamental analysis is a good tool for me following events and news to determine the next trend. It's even best for long term holding. I see technical analysis as a short term trading plan and will always want to play with emotions at constant interval especially if it is not used with news

aliborn

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Quote from: GreatArkansas on April 22, 2022, 09:05:37 PM

Quote from: aliborn on April 21, 2022, 12:34:30 PM

How to determine the trend for bitcoin?
(....)

For me, using multiple timeframes will help you to identify the trend here.
Using also the volume indicators, using moving average on volume will help too.

When you are using multiple timeframes, especially using a higher timeframe is very helpful because you will zoom out the chart and you gonna look at the higher timeframe first the trend, especially is it trading above the support or resistance? Or in sideways.

Using multiple timeframes can bring us closer to understanding the trend, its beginning and end.

It seems to me the basic thing with which I want to understand. Could you tell us about your experience in using multi timeframes?

aliborn

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Great response to the topic and so much useful information!

Many said about the news, I did not pay so much attention to them. I pay more attention to the correlation of bitcoin and S&P 500

GreatArkansas

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Quote from: aliborn on April 21, 2022, 12:34:30 PM

How to determine the trend for bitcoin?
(....)

For me, using multiple timeframes will help you to identify the trend here.
Using also the volume indicators, using moving average on volume will help too.

When you are using multiple timeframes, especially using a higher timeframe is very helpful because you will zoom out the chart and you gonna look at the higher timeframe first the trend, especially is it trading above the support or resistance? Or in sideways.

Fatunad

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Quote from: palle11 on April 22, 2022, 04:24:56 PM

Quote from: JooBra on April 22, 2022, 11:37:12 AM

That's it. I think that is what is needed to be in position to be a good trader. At the end it's so simple, just be out there follow the news know TA and follow the trend. I think people overcomplicate it in general and made bad calls.

Sorry it is not that easy like you wrote and make it to appear, no. If it is easy then more traders will be going home more than those that are losing . Trading by every means is not easy business area and everything about it is not a guarantee to make profit. This is what traders believe especially newbies who think all about profit and they jump in to every trade and regret.

Very common behavior for a newbie to have on which they do really believe that it was really that easy to make profits via trading and soon they would realize it on the time that they had stepped their foot into the market
and would realize and that it wont be a simple thing and its true that trading isnt for everybody on which you would really be needing to be wise and and vigilant on price movements.
Trend hunting might sound easy but with technicals but we know that it wont give out 100% precision when it comes to that.

DoublerHunter

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Quote from: aliborn on April 21, 2022, 12:34:30 PM

How to determine the trend for bitcoin?

Share tools or your opinion on determining the turn for bitcoin.

The topic is interesting because correct knowledge of the Bitcoin trend will help predict the direction for 98% of altcoins according to my observations.

^ To determine the BTC trend, you should stick to the fundamental analysis and confirm it using technical analysis.
There are a lot of references to follow if you are closely watching the market and how to determine the possible trend, the FA tools for analyzing the price are very helpful and give you a near-to-close prediction. Nevertheless, the other good points have been suggested above and I hope you will also have your own research and apply this in your analysis on determining the possible price in the future and it could be the result of being a good trader.

palle11

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Quote from: JooBra on April 22, 2022, 11:37:12 AM

That's it. I think that is what is needed to be in position to be a good trader. At the end it's so simple, just be out there follow the news know TA and follow the trend. I think people overcomplicate it in general and made bad calls.

Sorry it is not that easy like you wrote and make it to appear, no. If it is easy then more traders will be going home more than those that are losing . Trading by every means is not easy business area and everything about it is not a guarantee to make profit. This is what traders believe especially newbies who think all about profit and they jump in to every trade and regret.

maydna

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I guess you just have to look at the market situation, and if the line is decreasing and doesn't stop, it means the bitcoin trend is down and vice versa. But I also find it is a bit difficult to determine which direction the bitcoin trend is going because it will depend on where the bitcoin price will move and what traders will do. It will not be easy to predict the market's direction because the trend may change in the opposite direction in a few minutes or hours. But charts are your friend in analyzing market conditions.

JooBra

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Quote from: livingfree on April 21, 2022, 01:02:54 PM

Quote from: aliborn on April 21, 2022, 12:34:30 PM

How to determine the trend for bitcoin?

Share tools or your opinion on determining the turn for bitcoin.

The topic is interesting because correct knowledge of the Bitcoin trend will help predict the direction for 98% of altcoins according to my observations.

If it's about the trend, I'm into the news.

Together with the chart, if there's a sudden increase. I'm quickly looking if there's any good reason for the pump and a news that's related to it. But if there's none.

I'm waiting for a few hours until a news comes out. And if you're good in technical analysis, you'll just have to check and see if there's a pattern or trend that's being formed based on its chart.

That's it. I think that is what is needed to be in position to be a good trader. At the end it's so simple, just be out there follow the news know TA and follow the trend. I think people overcomplicate it in general and made bad calls.

joeperry

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I usually looks to other ideas online where they share their analysis and compare it to my analysis if there is a similarity with our ideas but to answer your question how to identify a trend is simple using a support and resistance trend and a few confirmations would you already know that what trend it is or if it is on reversal already.

Wexnident

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I mostly use https://www.coindesk.com/ and trading view. I used to look for articles from Cointelegraph but eh, it just kinda dropped on me. Though now it isn't really related to investing in Bitcoin or anything, I just read it just because I want to get updated on the latest news about crypto. Investment in Bitcoin became a DCA kind of thing, so I didn't really have the need to worry about whether it's trending or not, I just invest. There's also the option of basing it on historical data, which is much easier to get and analyze imo, and it's an investment for the long term, so you don't really have to stress about trading all the time.

palle11

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For bitcoin I don't know if there is exact way to know the trend especially when halving has come and gone. The trend is usually bull when there is a halving and the whole of market expect that after few months that the price will go up and after that a correction is likewise expected. This happened during 2017 and repeated currently. So I think those are sure trend to watch out for in bitcoin.

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Trading is one of the hardest things because its all about your knowledge and decision making so if you learn basic trading we know that trend is your companion but again they are just signals we called which is the use of the Technical Analysis by that it already give you an insight what are the next pattern also it is ideal if you keep updating with the news some of those take you an advantage regarding the upcoming long sell or buy positions. Always invest with your knowledge this will prevent and lessen the risk for your decision making.

zaesvlas

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There are a lot of instruments in trading that can be considered friends

The main thing is to really "be friends" with them.

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Quote from: sulendra12 on April 22, 2022, 12:23:03 AM

Quote from: aliborn on April 21, 2022, 12:34:30 PM

How to determine the trend for bitcoin?
Share tools or your opinion on determining the turn for bitcoin.

If we are talking about trend, then it's surely depends on the news you are getting on the internet. You may need to subscribe on some of those news medias in the internet that are covering about Bitcoin and cryptocurrency in general, also keep a track on influencer's social medias as well because they could give you some insight about the hype/trend in later date.

When we dive into cryptocurrency it is very important indeed to follow the news,
because positive or negative news has a considerable influence in the movement of the crypto market,
what is certain is that for now it is easier to get crypto news because there are also many circulating on the internet

Topic: The trend is your friend if you know how to identify it)) - page 4. (Read 691 times)