Bitcoin Forum

Let's discuss the nearest future. This topic is just for day traders. We don't discuss the global trend, only the time from today to four weeks.

Let me show you my drawings. https://www.tradingview.com/x/Uas7NHTI/ . You can see that bitcoin is in a down channel and there are some more things. It's triangles and look at a price action after each of them.
Up impulse all the time and accumulation period at tops of them with slow falling. And after that a rapid fall.

The question is: will it happen 3rd time?

For day trader use times frame 1 hours or maximum  4 hours and learn more about technical analysis,  and the most important thing is always stop loss for each trade, and the percentace of stop loss should be lower than take profit,  lets say take profit 10% so the stop loss should be 5%. So knowledge about technical  analysis and risk management  is key to earn profit  in day trading.

I agree both technical analysis and risk management will be followed by most have the day traders especially who are getting there profit not higher in this field will definitely say like this this can be and good more from the traders who are getting higher percentage of income.

Daily trading has a higher risk than long trading. Therefore the management that you apply must be truly disciplined, here the indicator will not have much effect because you must be faced with executing briefly. In contrast to longterm you can still think 2x to think about what you should do next.

It is not risky if you really know how to trade well, if the market seems like you cant earn for the trade then why you will continue to do it, as long as you can earn to the market then trade, if its not then stop for a while.

I don't think there will be too much change in the next few days, so as a daily trader we still need to be very careful in making decisions. Try to keep choosing some stable altcoins with large trading volumes to reduce the risk of losses in these volatile market conditions.

One of the hardest parts of daily trading is choosing potential coins. Scalping is a promising technique but not all coins can be traded with this technique.

According to what you draw, I think the price of bitcoin will go down deeply and it will be pumped back. because your triangle is still not formed at the bottom, so it needs a stage to make it go down.
I think the price of bitcoin will be $ 2000 soon if your drawing is correct.

I'd like to analyse the current situation. The amount of long contracts is extremely big, while the amount of shorts doesn't have a big changes https://www.tradingview.com/x/CjgEZumn/ . You might have seen a breakthrough today which didn't lead to anything, price is still the same. In conclusion, bulls are exhausted and they can't keep bitcoin rising. If there will be any rise in price, it isn't big. In every cases there will be a big fall.

I hope that once the bull trend will start then the investors will surely get their confidence level back and will surely give good support to bitcoin. They will hopefully never let the market down again.

We just need to give a little support to bitcoin in current level. I hope that its very soon that we will see bitcoin price trading above $20k, which is in fact the real potential of bitcoin price. It is better to do investment in bitcoin in current low price and make our position more stronger.

yes it is an very important topic to discuss about how the day trading will going on and people how much using trading as their total job and some of the people are making a huge money in day trading so please share your experience about short trading.

Do you have any special reason for the bitcoin price to dump more?

I cannot see any valid reason which can cause the bitcoin price to dump more and more. I think that we are already trading bitcoin in its bottom and therefore now we have only one expectation and that is that very soon we will see a good signal about bitcoin price and very soon its price will be trading above $20k again.

I think the same as you. The bloomy time expected by everyone is close to us, but to think that the price will come down is not the result of the analysis, but just the chance to try. Sure, there could be a downward move, but I do not believe we will want to lose this chance.

Some traders prefers daily trading to long term trading because they posses a working strategy and well comfortable trading with 1 to 4 hour timeframe most of these traders uses stop loss after considering the volatile nature of cryptos, I believed setting a good stop loss will adequately covers the risk in involved therefore trading irrespective of timeframe is matter of choice.