Bitcoin Forum

I bought some bitcoin back in early 2017 to make a transaction.  I ended up with some leftover, and of course, it's value is now much more now than what it was.  I know there are all kinds of threads and articles about future prospects for bitcoin, but I'm particular interested in daily bitcoin trends.  What are some of your methods? What have you found to be successful and unsuccessful.  I've traded stocks for a while, but this is obviously a much more volatile market.  I understand the huge dip that occurred last week, but at bitcoin's most stable, what are some trends that you all have noticed. Certain time of the day to buy or sell? Certain types of news that impacts value versus certain types of news that have less impact?

i know I've posed a lot of questions.  i don't expect all of them to be answered - especially not all at once; I just want to start a conversation about what kinds of trends people identify to assist them in trading and things of that nature.

Thanks

From my experience the most understandable way to notice the trend is whenever we heard something about Bitcoin in some country,
or something happen with the market and goverment reaction about it.
For example a few weeks ago when we heard a banning issue for their citizen and exchanger in the chinese,
Bitcoin price is dropping down very deep,based on that we can see the trend is.

Bitcoin is really hard to predict because it can be easily manipulated by some people/group,
unlike Fiat which is need a lot of factor to determine the price.
usually we can see the price dropping when we are nearing weekend,but sometimes you will see the price is surging when we are nearing weekend.
i only have one thing that i need to do no matter what is going on with the price or the market,
whenever i heard a rumour about Bitcoin,i will always buy it.
and whenever i heard a news about Bitcoin i will sell it in there.
do the opposite what people said and you will understand that a lot of people in are shilling and fudding.

do not forget to read international news about cryptocurrency to see the sentiment,
like cointelegraph.com,coindesk.com and others

Since the "black Friday" of crypto that occurred 2 weeks ago when China started to ban cryptos left and right, I have noticed that everything starts dropping as soon as Chinese market wakes up at 8 am their time and then it starts going up when the US market is waking up. I have made some "risk free" trades this way. I'm not going for big gains, but somehow small, constant fluctuations that so far I was able to ride safely (so far) into profits.

The trend is clearly UP:

https://www.youtube.com/watch?v=XbZ8zDpX2Mg

It's obvious that bitcoin goes through bubble and burst cycles finding new floors each time, and these floors being higher than the previous one, following a fractal-like pattern.

You said that you bought some BTC to transact and you got some that got left on your wallet. How much is it? If it's not much, you may want to try tour luck in the altcoin market to try to make more BTC. If it's a decent amount, simply hold it long term. You can't go wrong going long with BTC.

If we consider day price analysis of cryptocurrencies, we may not find any consistency or pattern in them. All the uptrends and downtrends are random. These all factors make day trading of cryptocurrencies (especially Bitcoin) to be very risky. But yeah there are some coins which you can hold following great news and pumps and sell the other morning.
But if you interested in major coins, do consider a healthy time period (minimum month or two) of patience to see your investment booming.

Yes, this advice is very true. Chinese and US market has a big influence in crypto market so you should timing carefully according.
Similar to this, all my worst transaction from what I record made after I wake up.

The best way to answer is go for finding a trend using technical analysis, this is the way that i follow. The best technical indicator for finding the trend is Heiken ashi candlesticks. Just start from the monthly candle colour and then go to weekly or daily candle to make decisions or entry about the trend.Apart from these I also use Moving averages and follow Dow theory for finding the Trend analysis of Bitcoin and Find the Trending behaviour, how they moving right now and how will they move in future. Its a big part which cant be commented in four lines,but for now this much is enough.

FUD/HYPE and HOAX can easily affect crypto market because its marketcap is still very low compared to what other tradable assets have. Also bitcoin mining is centralized to some countries like china, so even a small negative news regarding bitcoin in china can cause huge dump like we have seen recently.

Bitcoin trading is still dominated by chinese and american traders so anything happening out of those countries doesn't have any impact on bitcoin price. Few big whales hold really huge amount of bitcoin with which they can easily move market by 5-10% to make artificial daily swings.

I care to highlight a noticeable trend of the deflationary type since Bitcoin is a scarce digital asset. Anytime it dips, it always continues to rise.

Leave it about US and Chinese market because bitcoin is not depend on them bitcoin is decentralized and open for everyone neither US nor neither Chinese market can decide about bitcoin.

Yes bitcoin is decentralized and open for everyone but China and US have a big influence and a huge amount of investors in the market that can cause a big effect to the bitcoins price.

It's probably best to cashout now, but nobody can really predict which way bitcoin is going to move. China might allow it tomorrow and the price could skyrocket, alternatively an exploit could be found in the blockchain and bring the value to near zero at any time.

There is also really noticeable trend that all top coins (BTC, ETH, LTC, DASH, etc) are going down during weekends. In the end of Friday everything becomes cheaper and on the Monday morning it's going up again