They say buy the dips...but how do you know the dip has bottomed out? - page 2.

StanleyBoyle

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What you worry about will control you

Quote from: pooya87 on July 26, 2021, 12:44:45 AM

You can't. That is why when you are trading you should have a plan for every trade when they don't go with your plans.

But generally speaking the reason for a dip is a good way of knowing if it is realistic and has room to go lower or unrealistic and is below the intrinsic value.
For example when bubble bursts the drop is not a dip you want to buy in, it is a proper downtrend like in 2018 or 2014 or 2011... But when the drop is manipulation, panic sell and due to FUD then it is unrealistic. For example $30k has been unrealistic which is why it was not a downtrend but a single drop where price got stuck in $30k range ever since.

Buying on dips is one of the commonly used methods of operation, but this is a feeling, not a 100% grasp. I am not very interested in various data indicators, because the data is delayed, and many platforms can also falsify the data. I also don't stare at Bitcoin every day. My investment logic is based on the proportion of my assets. I will make a proportional distribution of monthly income and invest in Bitcoin. In addition, my investment cycle will be very long, so I am not interested in this topic. I think there should be many people who operate like me.

pooya87

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You can't. That is why when you are trading you should have a plan for every trade when they don't go with your plans.

But generally speaking the reason for a dip is a good way of knowing if it is realistic and has room to go lower or unrealistic and is below the intrinsic value.
For example when bubble bursts the drop is not a dip you want to buy in, it is a proper downtrend like in 2018 or 2014 or 2011... But when the drop is manipulation, panic sell and due to FUD then it is unrealistic. For example $30k has been unrealistic which is why it was not a downtrend but a single drop where price got stuck in $30k range ever since.

dansus021

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Quote from: franky1 on July 25, 2021, 08:02:34 PM

no absolutely not..
the whole point is to avoid the tips and instead buy the dips

always buy below the tips

indeed, word "dip" will different on each person Cheesy

like the other user is good to know where the support of the coin and wait till close candle

me personally using support line,fib and ichimoku cloud or RSI on daily timeframe from there you will know where the "dip" is Grin

kaya11

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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.

You set the margins where to buy, If I am trading when there's bad news about the crypto world I would buy about 20 to 50 dollars gap. It really is hard to know where will be the dip, so buy a little bit of bitcoins whenever it goes down and it works for me just fine.

mk4

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Paldo.io 🤖

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

Any tips, tricks?

The tip: Just learn trading in general. If you want to maneuver your trades correctly, I don't think you should be making decisions around one single indicator alone.

Also, you can't even exactly say if a certain price is already the bottom. You only play with probabilities, not with guarantees.

cabron

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Quote from: Darker45 on July 25, 2021, 10:42:57 PM

That's why it is buy the dip and not buy the bottom. The tip is never buy the bottom. The bottom is a thing of speculation. It cannot be known until it happens. One prediction of the bottom is different to that of another's. Somebody calls $40,000 the bottom but then the price falls more the following day and again calls $30,000 the bottom and yet the price once again falls lower than that after a short while. And so on. So just buy the dip. If the price dips further after your purchase, then the same thing applies once more, buy the dip. That's the trick.

They were saying that the bottom happened on May 19 2021 which they say in the daily chart that dips below $30K and it did happen again last week which had bounced back again. I think the indicators are correct in saying that but it's always open to different interpretations when there are flows of news in the media.

If the flow of money going to crypto continues to break out resistances, I guess the bull run still continues and the institutions had likely bought at that dip. And it had bottomed out because the bears got exhausted for several weeks.

Darker45

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That's why it is buy the dip and not buy the bottom. The tip is never buy the bottom. The bottom is a thing of speculation. It cannot be known until it happens. One prediction of the bottom is different to that of another's. Somebody calls $40,000 the bottom but then the price falls more the following day and again calls $30,000 the bottom and yet the price once again falls lower than that after a short while. And so on. So just buy the dip. If the price dips further after your purchase, then the same thing applies once more, buy the dip. That's the trick.

JillianTaft

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Generally speaking, buying on dips is one of the best operations in the currency market. Buy on dips in an uptrend, wait for the price to pull back to an important support level, and stop loss after an effective break.No matter which method is adopted, one must wait patiently for the best buying point in the market and seize the opportunity. The volatility of the market is not a straight line. There are many trends under turbulence, so choose the best time.

noorman0

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[Nope]No hype delivers more than hope

Buy the dips = coincidence
Buy support areas = plan
Never mind the price of the dip, you can't even determine the time of the next dip.

Forget that the dip means the lowest point, there is no tool or analysis to accurately predict the low if you are trading manually. The most likely to be able to buy at the lowest point are trading bots. Maybe you managed to buy the lowest, but coincidence will not happen continuously.

kidbounty

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HELENA

using Fibonacci, you can see support and resistance points. if you trade short term, you must be familiar with this indicator. if the price has touched or is approaching the support point, that's the right time to buy. you could say it was a dip for a short period of time.

Rajamuda

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Quote from: sheenshane on July 25, 2021, 06:59:27 PM

Anyway, Bitcoin didn't promise on making a profit, it was created by means of payment as an alternative currency on fiat.

Quote

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

Then, this isn't a Bitcoin, it might you are preferring to altcoins which are good for a short-term investment.

I think bitcoin can still make a profit in the short term too, I've made a profit since two weeks ago when it was at $30k and now it's still going on to the high tended to $40k. Well, it's just that it is necessary to read the situation of market movements more often accompanied by certain more accurate news that can have a high impact so that it can move significantly higher.

NotFuzzyWarm

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Evil beware: We have waffles!

Looking at spots on goat entrails or using patterns of tea leaves are good for making predictions Wink

franky1

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

Any tips,

no absolutely not..
the whole point is to avoid the tips and instead buy the dips

always buy below the tips

sheenshane

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There's no trick but there's a tip, just buy as many as you want and hold them in a long period of time, just like 5 years from now.

We didn't know when the dip was because Bitcoin price movement is unpredictable, just buy and aim of target profit and never sell under the price where you purchase.

Anyway, Bitcoin didn't promise on making a profit, it was created by means of payment as an alternative currency on fiat.

Quote

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

Then, this isn't a Bitcoin, it might you are preferring to altcoins which are good for a short-term investment.

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

If you are a short term trader, the dip is subjective. It's hard to notice one but support levels can sometimes help. The Fibonacci retracement tool can help you determine the resistance and support levels depending on the time frame you are using.

Please note that even on the resistance and support levels. The price can still break out. So always make sure you have your stop losses on, just in case.

9thsky

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Any tips, tricks?

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

Topic: They say buy the dips...but how do you know the dip has bottomed out? - page 2. (Read 227 times)