They say buy the dips...but how do you know the dip has bottomed out?

fia_naila

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Quote from: 9thsky on July 25, 2021, 06:44:42 PM

Any tips, tricks?

*Note: asking for short term trading purposes. So advice like "don't matter when you buy..." is not applicable.

Set your buy order to only coin with good fundamental and set your profit only 10% profit, look at the coin with good fundamental and sideways for 3-4 month after correction. It probably can easily gives you 10%. My suggestion is project like NFTs for gaming because the industry is hot right now.

killerman2

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The simple answer is that you should analyze the coin. Reading about the coin and studying about the coin is very important in trading through which you can get profit and without which you have to make a loss. So, first of all analyze the coin then buy in dip, i hope it will show you everything clearly.

isaac_clarke22

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Quote from: 9thsky on July 25, 2021, 06:44:42 PM

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Well as Bitcoin_Arena mentioned, it is pretty much subjective plus it depends on when you bought your first coins. For example, Bitcoin from 60k to 30k. The 30k might seem low to some people that bought from 60k, but for long-term hodlers, pretty much it is still high for them and it isn't the dip because they could have bought some back <20k.

jossiel

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The other tip is when most of the mainstream media gives that news about how bullish they are in the market.

That's what has happened before when an upcoming dip is about to come so you can also use them as indicators. Tongue

But I don't know this time, it's different as they give positive news, the market reacts straightly.

Fatunad

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Quote from: kawetsriyanto on July 28, 2021, 06:44:35 PM

Quote

how do you know the dip has bottomed out?

I assume no one really knows this. Because a coin price is unpredictable, we cannot determine whether it is already at the very bottom or not. But we can predict the price is on the bottom or on the top by learning the price chart and the fundamental factors. That's why learning how to analyze the price chart is necessary, especially for a day trader. Also, don't forget to take a look at the current issue related to the coin. If there will be bad news, the price of crypto can be fee fall severely. In this situation, be careful to set a buy order because the price can drop significantly.

Just common sense because no one could really predict the market and theres no way that you can really know on whats the bottom but basing on analysis then we can really
make some guess or speculation with technical tools that we can use which is already provided.Its up to someone if they would really be following it out and taking a risk
on buying when they do get that indication and this is actually a personal preference or risk taking factor on each individual which would really differ into each other.
We can make our own decisions when that particular situation do happen.

fullhdpixel

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Quote from: 9thsky on July 25, 2021, 06:44:42 PM

Any tips, tricks?

*Note: asking for short term trading purposes. So advice like "don't matter when you buy..." is not applicable.

Yes, there is no way to determine what will be the absolute bottom during a bear run, rightly said. But my logic says that, if the price is below the amount it should be then you just close your eyes and buy it.

Imagine this scenario. BTC fell down to $30k and maybe it might have touched lower points but I am not aware of those. Now think about it, as the price touched $40k, you had a chance to earn 33% profits which is enormous and doesn't matter if you missed the absolute bottom of let's say $28k because you still made decent profits.

There's no one, not even Elon who can predict the highest of highs and lowest of lows in the crypto market, so stop looking for those.

kawetsriyanto

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Quote

how do you know the dip has bottomed out?

I assume no one really knows this. Because a coin price is unpredictable, we cannot determine whether it is already at the very bottom or not. But we can predict the price is on the bottom or on the top by learning the price chart and the fundamental factors. That's why learning how to analyze the price chart is necessary, especially for a day trader. Also, don't forget to take a look at the current issue related to the coin. If there will be bad news, the price of crypto can be fee fall severely. In this situation, be careful to set a buy order because the price can drop significantly.

Hypnosis00

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Quote from: 9thsky on July 25, 2021, 06:44:42 PM

Any tips, tricks?

*Note: asking for short term trading purposes. So advice like "don't matter when you buy..." is not applicable.

What short term means? One day, 1 week, or 1 month? Then you'll need to choose high volatile coins. But never think that you will easily double your money in this strategy unless if you are lucky it is hyped after you bought them. Because the truth is that you can make a huge profit in short-term trading, too far from what you've got in long-term investment.

Well, I could suggest to you is to spend more time and analyze the market trend. Having some TA could help you to determine which one is the best coin to trade for short-term but just to remind you that never be greedy to think about more, if you have seen some profits already, never hesitate to sell it or else, you will miss it.

Rengga Jati

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Quote from: 9thsky on July 25, 2021, 06:44:42 PM

Any tips, tricks?

*Note: asking for short term trading purposes. So advice like "don't matter when you buy..." is not applicable.

maybe no one doesn't really know the exact rate of the "dip and bottom" of the Bitcoin price. Some predictions may say that this day, the BTC may hit the bottom resistance at ....... But in fact, in the next few days, the price still keeps dropping. Or the price has risen up several percentages, but in the next day, it falls down again, lower than the previous bottom. Moreover for short-term trading.
In this case, I will always only utilize every chance to take profits after buying at a certain rate and set my target at a certain rate after increasing.
That is why always use the money that we can afford to lose because we really don't know what will exactly happen in the market although we have done our very good TA, in fact, the market is sometimes unpredictable and surprising.

Shenzou

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Quote from: 9thsky on July 25, 2021, 06:44:42 PM

Any tips, tricks?

*Note: asking for short term trading purposes. So advice like "don't matter when you buy..." is not applicable.

Since you are trading short term it all depends on what are you trading, if it is bitcoin than buying at some obvious resistance levels is and easy task and just holding for a couple of days can make you hundred of dollars since its price is always changing, but if it is other cryptos it depends on the nature of it and what is causing the dip, in that case you should wait for the price to stabilize in order to go in, and keep up to date with what is going on with it

stomachgrowls

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Quote from: 9thsky on July 25, 2021, 06:44:42 PM

Any tips, tricks?

*Note: asking for short term trading purposes. So advice like "don't matter when you buy..." is not applicable.

There's no trick but would rather be basing on pure analysis neither technicals or some mix of fundamentals but most traders do really rely on supports showed off by those indicators.

When you do see the market is dumping then there would be lots of speculations around and analysis floats about possible bottom if the neither there would be break outs or would be some rejection.

If this is something which can really be easily be determined then lots already on this market is rich because they can able to buy into the bottom and making profits is easy as pie

but those things are just good or do only happen in dreams and in reality then its totally opposite.

WePiggy

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You could draw lines on trading view and try to find a trend, prices go up and down so just buy when the live prices go down. If you're not part of the whales trading group then day trading is partly skill and partly luck. Hodling is the simplest strategy and proven to be a profitable one

Sanugarid

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I don't think that there's a precise way to know if the dip is really the dip that we thought it would be because market doesn't have an invisible floor that's going to stop the prices from going down any further, there are some tools that you can utilize to somewhat predict it but it's not reliable since prediction doesn't mean that it's going to be right all of the time.

Ararbermas

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If you want to do trade and want to know the basic rules such how to figure it out if the coins is in the dip in order to get the right timing to buy, then you should learn how to use some useful indicators in the graph for example Rsi, macd and Stochastic and etc. Because that's the only way how you can determine the coins if it's over sold or over bought. It's very useful especially if you want to use it for shorting..

pawanjain

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Quote from: 9thsky on July 25, 2021, 06:44:42 PM

Any tips, tricks?

*Note: asking for short term trading purposes. So advice like "don't matter when you buy..." is not applicable.

This question would have been more appropriate in trading discussion board.

To answer your question dips often bottom out when the support is very strong at certain price level. No one can predict the bottom but we can make sure we buy somewhere near the bottom.
For instance, we had a good support at $30k but bitcoin had fallen below that like twice or thrice may be and the price bounced back up.
Since those were very strong support levels I was certain that this should be the bottom if bitcoin doesn't fall below that again.
Keeping stoploss and buying at $30k would have been the best choice in the current situation.

Bitcoin has reached $38k and I was fortunate enough to take the right decision. This is how I find the bottom.

hatshepsut93

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People are not saying "buy the dip" because it's an awesome trading strategy, they are merely saying this to calm themselves during downtrends, as they can't ever admit that Bitcoin can be in a bear market, until it has fully crashed.

Shoter-term trading is not only about buying the dip, it's also about selling the tip. To do both you need to learn some technical analysis (which is never 100% reliable) and sentiment analysis, but be prepared to lose a lot of money if you're a beginner. Short-term trading is more close to gambling than to investing.

AniviaBtc

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In studying trading and doing technical analysis in the market, there are a lot of indicators which can help you to strengthen your prediction.

When i'm just starting in trading, I'm keeping my eye on some indicators like specifically, RSI.

It helps me to see if a certain coin is overbought or oversold, just keep watching and reading some books or videos in trading to know more.

Hendra gunawan

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yes, this is the dip. Bitcoin price at 30k support. This is the best time to buy bitcoin. Technically this analysis is a buy signal. This is called buy the dip.

Wexnident

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It's all personal judgement imo. There are a few factors that you can take into account when trading, but those factors are quite vague and different at each moment so really, there's no set idea as to what you should actually depend on when trading. It's ever-changing so to speak, so it isn't really right to say that there's a solid "tip" or "trick" to trading. The best you can do is to probably set buy and sell trades using bots or something, though ultimately the judgement still depends on what you actually judge it to be. Just keep trading is probably the best answer ngl.

Obito

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I don't think that you don't know if it's the bottom, I mean if you are a short-term trader, you should be able to analyze the candles and the pattern because that can give you a clue as to what's going to happen next or at the least have a good prediction as to what's going to happen next. I think that only analysis can help you in this one because other than that, you will just be taking guesses and hoping that it's right.

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