There is a regular range of fluctuations in the market, how should we trade?

crwth

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Quote from: Ararbermas on October 10, 2021, 02:10:21 AM

yep, i agree mate. And maybe op need more tools to get more information of the trend of bitcoin nowadays. Actually i used trend line for this situation because for sure when it breaks out it will going back to the current resistance or more since the growth rate is very fine at the moment, and also some useful indicators to avoid false break out as its happening very often in the market. But probably there's no more factors that can stop bitcoin on this situation as it still keep showing a potential day by day..

I would personally enjoy fewer indicators on my chart than more, so I think it's okay for the OP to do that. Maybe the tool to catch the perfect trade needs like trading bots ^{(see my personal text)}_{shameless plug.}

Anyway, trendlines are subjective in some way. You will determine which candle you would start/end with and will likely differ from person to person approach. It's always going to be quite hard to decide on and predict the correct movement of the market, so you would always need to be aware of your risk management and make sure that you need it to be in place and follow it like religion.

pawanjain

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Nothing lasts forever

I think this is a good sign because bitcoin is getting consolidate at around $56000 which means more people are accumulating BTC.
This is good because we can expect a pump in bitcoin's price anytime soon and once it spikes up then it might touch $60k.
After that though I am expecting a minor correction followed by which will be spike which will create a new ATH in bitcoin's price.

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

Trading on a sideways market or consolidation phase doesn't seem as easy as it looks, especially when one is trading futures or margin. Personally, during such time, I avoid trading because it's the time I have made huge loses. Probably my trading strategy doesn't work under such conditions, but it's worth noting that it's not automatic that things will work out well always.

Ararbermas

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Quote from: crwth on October 09, 2021, 10:24:13 AM

Once you break the 56000, it will go higher and probably reach the ATH and even higher now. I think the range we are in now is healthy—hoping for the continuous uptrend until the end of this year.

yep, i agree mate. And maybe op need more tools to get more information of the trend of bitcoin nowadays. Actually i used trend line for this situation because for sure when it breaks out it will going back to the current resistance or more since the growth rate is very fine at the moment, and also some useful indicators to avoid false break out as its happening very often in the market. But probably there's no more factors that can stop bitcoin on this situation as it still keep showing a potential day by day..

Oshosondy

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Quote from: Review Master on October 09, 2021, 01:21:14 PM

Looks like, OP's suggesting to do scalping or grid trading between $53k and $56k. In that case, traders can get profits if bitcoin continues the sideways movement for longer period of time, else it won't be effective at all. I

I guess that is what OP is talking about, that traders can take the opportunity of buying at a low price when bitcoin decrease below $53000 and sell when the price is around $56000. This is what many day traders are doing now, not only scalpers, scalpers might not even wait for such time, scalpers use huge amount of money to make profit from low price range, it can even be between $54500 and $55000 that scalpers will make profit already, it takes just few minutes for scalpers to close trade.

Quote from: Review Master on October 09, 2021, 01:21:14 PM

If it's future trading and anyone opens short at $56k to see another lower price around $53k, than possibility is high for losses as bitcoin could breakout the resistance and go higher for another ATH, IMHO.

Bitcoin price can break the resistance but that is not what to only be considered, bitcoin can also break the support, if the position opened is gone against the price direction, like the person will lose, but OP indicated the use of stop loss which might be helpful to minimize loss, but it will be funny if the market later favour the trader's direction which will make stop loss to be disadvantage.

Victorycoin

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Prices are determined on the basis of ups and downs in the market you need to understand the signals before trading is a basic economic concept that involves buying and selling assets these can be products and services, where the buyer compensates the seller the transaction may involve the exchange of goods and services between the trading parties. It is better to hold on when the price of currencies goes down it cannot be prevented by selling less.

suzanne5223

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I also believe the Bitcoin market range we are in now is healthy and this is the moment for traders to take profit but if the market continues to replicate the old Bitcoin halving effect trend this current sideways movement won't be for a longer period of time that's why I choose the buy and hold idea as a preparation for what may occur.

Review Master

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Looks like, OP's suggesting to do scalping or grid trading between $53k and $56k. In that case, traders can get profits if bitcoin continues the sideways movement for longer period of time, else it won't be effective at all. If it's future trading and anyone opens short at $56k to see another lower price around $53k, than possibility is high for losses as bitcoin could breakout the resistance and go higher for another ATH, IMHO.

Tytanowy Janusz

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Some people trade inside price range, some people trade breakouts, some people gamble without strategy. The problem with trading inside price range is that the most often, as soon as you see it clearly that the price is bouncing from A to B and back to A and again B ... its already too late to make profit out of it because the often we hit support, the more likely we will break it. So you buy at A, price wick below to trigger stoploses, go to B without you where you short price wick above, you did not put stoploss hoping its the same wick you've seen blow A and you are fu*ed because it was legit breakout and we are going for a +20% push. So be Carrefour with that

palle11

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On the long time, the month ending candlestick is favourable to bull and shorting down to $52,000 area is risky except the stop loss and take profit is activated to immediately scalp some profit on the down side but staying at short levels around that $52k range is not a good one. For the week ending, the price of bitcoin beyond expectations did highs and investors are likely to buy with the hope of more bull.

crwth

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I am sharing the image posted by the OP. It's pretty hard to visualize what you are talking about without any screen to share.

Once you break the 56000, it will go higher and probably reach the ATH and even higher now. I think the range we are in now is healthy—hoping for the continuous uptrend until the end of this year.

Fish analysis BTC

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BTC market review yesterday: Yesterday’s suggestion to my friends is to do long orders when it pulls back to around 53400-53600, the target range is 56000-56400; the downward break through the support level 52950 stop loss; the result is in line with expectations, and it fluctuates in the range of 53600-56000 , Congratulations to friends who follow the trading strategy and successfully grab 60% of the profits.https://preview.redd.it/1pasg5fxkes71.png?width=1666&format=png&auto=webp&s=6a4d29aed96b3254236150a0809fee5363d3a24c
Bitcoin (BTC) contract technical analysis: Yesterday continued to close the Yang line. Although the strength is not strong, the consolidation cycle has been established. It depends on the direction selected later. The current upward trend remains unchanged. The upper pressure is near 56000 and the lower support is Near 53600. So today’s contract trading advice is: sell high and buy low. If the break continues the trend, stop loss and profit in time.

Topic: There is a regular range of fluctuations in the market, how should we trade? (Read 117 times)