Bitcoin Forum

Until Sunday bitcoin prices seemed stable and calm; market did not show any significant movements; I kept checking on preev it showed most of the times $10070. But, suddenly today I see once $10050 and then after one hour I witnessed $9930 and then it seemed recovery in progress as I see again prices above $10k levels.

But, after 3 to 5 hours, right now trading below $9820 and all the faith which made me confident about reaching $12k got collapsed. As someone else mentioned in their topic, this must be another Monday where bitcoin suddenly turned cheaper to get into it. But, I am still confident about bitcoin prices reaching again above $10k and then testing short term target of $14k.

It's too early to see a massive run from $10,000-$12,000 it if did, then there's kind kind of manipulation from behind, maybe there are entities that are setting up a bull trap or something. So don't rush anything, let the market flows its normal direction and I'm sure that it no time, there is a big possibility of hitting that $12,000.

I'm sure you already know that this kind of spike will be followed by some healthy corrections. And it is good, because it can bring fresh investors again after every dip, so let's see how will everything pan out this week and this will be another exciting trades for us.

My confidence about going above 10k is not collapsed,,, unlike you;) For me, Monday is when normal traders get up and then decide they should take some profit now, hence the sell off. It was 100% to be expected with 10k. I am still very sure price will climb again as people are not thinking they could enter before 10k.

Not really. Changes can pretty much happen any day, and solely blaming the drop of BTC to below $10k because its "Monday" Seems stupid to me. And another thing, we've seen small corrections such as this in the past month already though. When BTC reached $9k, $9.8k and so, it didn't always go on the rise continuously. It has had weeks where it went down a few hundred dollars, but it still managed to push through and break past the $10k, so nothing really weird about it IMO.

Plus, really? You were expecting BTC to reach $12k in this short span of time? You know that is close to impossible right? BTC has been at the $10k mark for at most a few days only. It's close to impossible for it to suddenly push for $12k without any notice to the market. And even if it were able to do that, just the fact that it jumped $2k from its current price is enough to cause a small - scale crash of the market.

Everything is just pure coincidence and theres no such thing about Monday buyouts because it turns out the price were cheap on Weekdays or starting of a new week.

Btc price can anytime stabilize or moving sideways but it can change on a blink of an eye.This is where traders or investors do differ when it comes to risk management.
Theres no precise thing or patterns on when to buy or when to sell.All things will vary or depend on you.

Too much monitoring can really lead a person to create an observation wherein they are the only ones who can understand. In other words, making things more complicated resulting in too much expectation.

You expect a $12,000 right away this big increase happens without considering other factors that might slow down the process.

And definitely, being on Monday doesn't correlate with the crypto price movement. Why this Monday mania just started to be noticed recently? What can they say about those previous Mondays before the rally to $10,000?

As i see yes Monday is a good time to buy crypto, because bitcoin price now drop and well save some money and buy more coins if tgeb buy it Sunday.

Relax and take a chill pill - this short term correction was needed and expected.

The gains that were made were definitely unsustainable over the past few days and an adjustment was going to come as a matter of time - there's no if's and but's.

I'd actually expect prices to slip a bit further down before retesting the $10k resistance, which this time I think will turn into support for future rallies. With the halving upcoming I think that there is definitely reason for optimism, albeit a somewhat subdued sort.

I have seen bitcoin reached $10,100 but I didn't sell because I'm bullish and long term already. IIRC, someone posted this kind of observation that whenever we hit Monday, the market starts to be dumped and it's a sign of buying time.

Sometimes it's like that but let's see if the next Monday's will be the same with what we're thinking. But if it plummets by Monday or not, no need for the validation of this observation and think of yourself to buy before it recovers.

I don't think that there is reason to panic just because prices have corrected.

Sure, $10k is a important psychological resistance but at the end of the day, this correction was due to happen.

The mood is still very bullish and sentiment is one of the best indicators of future price activity, especially when expectations ar that we are at the start of a bull market. I'd start dollar cost averaging while bitcoin is still below $10k, because honestly we could be saying goodbye to 4 digit BTC prices for a long time as we get closer and closer to halving.

It's funny. Years ago, everyone thought the opposite. BTC traders would always talk about "The Weekend Dip." Since bank deposits stopped flowing into exchanges on weekends, they speculated that price should drop. "New Money Monday" on the other hand, would bring fresh money into exchanges and cause prices to rise again.

In my experience, patterns like these aren't nearly consistent enough to profit from.

I could suggest that you'll have to show some charts that will correlate to your statement and everyone could see its difference, not only just in the last week or even just a month... ;)

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Yeah, it is really hard to say that it is right until proven cause we know the fact that the market is often to change every time. However, the market seems to be at good and it continues to move high that is why we can't really notice it dumps rather than focusing on its increase.

I don't get the logic that it would be good on mondays since as what I have observed, during mondays, the price is not that different from the price of other days within a week. It would be better to say that there is a  'period' wherein it is best to buy Bitcoin because the market prices do change a lot and there are times wherein the market price stays low, which is practically, an opportunity to invest.

There is no consistency by the way so I won't believe there are specific days that would be "best" in this industry. The changes in the market prices in times of mondays might be just a coincidence. Because if it is really a good day to invest, it would be consistent, such that no mondays would be 'off' for an investor to make an investment.

You do not panic, we know that the decline in bitcoin is currently only a slight correction and this is a recovery and this is not a big dump after touching $ 10k, in the last few weeks they have a good movement they go up little by little then down again and up again I think it will continue like this until the price of bitcoin can reach $ 15k.
Your hope will not be destroyed I believe bitcoin this month will soon be reached in $ 12k for me this will be easy to achieve because the news is good enough bitcoin there is no fud that continues to negate bitcoin.

Monday was a decline for BTC and to buy into that is something of a gamble to hope that by the end of week it will have turned around.   There is no rule its following that would make it bullish by any certainty.  
  Its better to wait for it to stabilize then buy into continuing weakness.   Its near to the weekly average (https://i.imgur.com/P4NbwIf.png) now which I generally expect to mark the boundaries to price remaining positive or negative in short to medium term.  Also we have some channel that will mark off over the week whether it holds, if it fails then 8k could happen making a monday buy not the best as it was ignorant to larger factors.

It is very dangerous to believe that kind of thing. But there is something that has been leaving me to think a lot. I don't know if you noticed this, but in the last few months when these analysts posted some negative price prediction on their twitter accounts, hours later the price increased a lot. I have been observing these scenarios for 4 months, and it seems to me that this has become a standard. am I wrong? is it my imagination?

I do not really think that days might affect the price of bitcoins. Monday's might show us some dump because people would prefer selling their coins after weekends to get into new coins but this is just a prediction. We might never know the actual reason why bitcoins keeps on dumping on Mondays. This week might be stable for bitcoins but at the end of this week we might experience some huge dump or pump.

We can't know what exactly it would be but preferably we are waiting for pump. The graphs are showing us some signs than in few coming days bitcoins might experience something huge. We all should expect that it is a pump and not a dump because in case of a dump, we might see bitcoins on average of $8000 again.

And now it's Tuesday and the prices are even lower, so, is Tuesday a good time to buy BTC?
Because right now Monday was a good time to sell! ;D

But, what Mondays are we talking about?
Japan time or Us Pacific time?
Because Japanese dumping on Monday means the price is going down Sunday on the west coast :P


If people are selling their bitcoins to get more other coins then somebody is also selling altcoins for bitcoins , right?
But if those that sell bitcoins are the majority then you would see the altcoins skyrocket, which didn't happen.

Also BTC <>alts wouldn't influence the USD value, right?

I was able to engage with the previous post telling that Mondays are the best day to invest in Bitcoin. As I recap, I stated that I had experienced trying to analyze specific days, hours and even months that are best to invest in Bitcoin.

But for this week, that theory got it. However, it is not yet sure if it really is best to invest on Mondays. We will try to find out the next week. I will then try to invest in Mondays on the next week after that.

If you consider 1 day chart on tradingview or any other platform than you can see that for few coming days we might experience some dump. Maybe price would get close to $9500 before we could again experience the pump. Markets are in an ascending value and hence the graphs are moving towards higher targets. But, any of the graph can't just continue having a pump without considering the current situations.

There are dumps before pumps and vice-versa. The prices are much volatile which might make them counter your price in a glance of eye. Maybe after 2 or 3 days we could see a pump again which might eventually cross $12,000. I haven't considered $14,000 target for now as there is a strong resistance above $12,000 and once price starts climbing above it than we could expect a bull rally.

Monday is a great time to buy only because it is the start of the work day, do not mistake that and start investing on a Monday that is a holiday for example, if one day Christmas hits on Monday for example, do not think Mondays are good and buy that day. Plus there are movements on bitcoin like crazy all the time by whales or other people, so in general Monday is a good day on average but there will be days where movements are crazy on weekends or any other day and be horrible on Monday, or maybe some whale will sell all of his coins on a Monday and make you lose money.

So in general, the average result is; yes Monday is a good day to buy btc, but that doesn't mean that it is like that 52 times a year, there are exceptions which changes this and knowing them is the real challenge.

In addition to that, for those who are involve in a daily trade on short term basis, i think morning (i'm on CET) is a good time to buy and evening it's a good to sell. The logic behind this is that just before the market get saturated (daily buying & selling begin's) you could buy cheaper & resell when buying and selling is very concentrated.

Thanks
Soldierwitlittlefaith

That would be too biased vs certain parts of the globe, so your timing to sell evenings for western europe into USA time goes against Asia which starts its working day around then.   I find Asia to be quite bullish on BTC and buyers in general perhaps to a greater extent then most of the economies that revolve around USA especially closely.    Large parts of Asia are developing at a faster rate, I think they have a greater use  for BTC because the distance to USD is larger then Europe finds itself.
   Distance from USD is significant because current FIAT world money system revolves around USD as the main reserve currency asset.  

Right this moment:

https://i.imgur.com/EsBMOY9.png

So we're at the Asia open time, lots of those markets open about now and on monday early morning that makes them quite important in trend setting for the week.  The pattern I was looking for on that chart is that I think BTC should break upwards or possible challenge this 10,300 level its risen to in a burst and stayed above so far.    The bigger and potentially more profitable trade is in retracing that price back downwards to 10k.    10460 recent top as first target to disqualify this bearish break idea.

I think that "Monday craze" is once a popular statement in the stock market. Since the trade closed on weekends, expect a bit dump around that time and once the market session commence, it's good to execute buying shares at the starting day.

This practice can't be applied to the crypto market wherein every time, we can expect the unexpected.

If there's a difficulty looking for the best time to buy, sometimes people need to take risks at whatever price and see if their decision is right. A bit of analysis should always be considered before executing that buy button.

but from what i observed in the market it is not market on which  the Value becoming more lower but it is weekends(though we have different time zone so maybe sunday to others and monday to you)but in mine it is either saturday or sunday in which the market is falling.

but for me in my own discretion ?everyday is a good day to buy Bitcoin specially for holders who has no definite time when to sell their holdings.

".....timing to sell evenings for western europe into USA time goes against Asia which starts its working day around then.   I find Asia to be quite bullish on BTC and buyers in general perhaps to a greater extent then most of the economies that revolve around USA especially closely."

Hello STT, here is the logic from my personal calculation. i think when it's evening in most countries within the eu zone, then it will be noon in USA (by noon, i mean people in USA are already wake or probably in their offices or in their various business centre) same with those  in Asia (china...) . At this point in time the trading (buying & selling) of btc will be highly concentration due to the number's of people who might be emgage in buying or selling of btc at this point in time when compare to the other time where people in other part of the world would either be sleeping or just waking up from sleep. So, i  think these factor's greatly affect the exch. rate of bitcoin on daily basis.




Note : in accordiance to preev.com at the time of posting this comment, the exchange rate of btc to usd is 1 btc = $10.180 usd (date 13.02.2020 time 13:27) CET now watch out the increase in exchange rate today when it's 8 or 9 pm in your location. Do this for 1 week and post your observation within the comment box below. Now can you immagine how much profit most trader's who will be making on a daliy basis just by targeting this profit margin!

 

Thanks
Soldierwitlittlefaith

That's a good analysis good for short term trading and profit, I am more comfortable in long term holding, forget the hustle of always looking at the price almost every hour, I am more confident that I have did last year like buying and accumulating good coins will yield me profit after the halving.

On Saturday and Sunday, we see the price of Bitcoin is falling sharply, I hope this is just a correction and continue the bull trend, but it seems like a little hard because it has just sounded IOTA hit by hackers from the wallet, hopefully tomorrow Monday market can Back Green

Not really. Who can predict the price will be the lowest price on Monday? We don't know for that, and if you see the price has reached the lower price, you can prepare to buy, or you can purchase instant, so you don't have to wait for a long time to get bitcoin. You can also make an order buy at the market in the price you want and wait for a while. Bitcoin price will not always at a lower price on Monday, so you need to search where is the lower price and do something.

Nobody cares about a centralized shitcoin project such as IOTA. Bitcoin will most probably go back up to ~$10,300 in the coming 24-48 hours because the CME gaps tend to fill as long as the price is heading in the direction of the trend, and that's definitely the case. This however doesn't mean that we can't fall below $10,000 again after that, but it's just something to keep in mind.

People usually talk about buying dips, but that makes sense during a bull market, because those dips produce quite high returns. In bear markets dips turn out to be highs and you regret buying most them most of the times. Wherever the low of the current dip turns out to be, buying it will be rewarding. You don't have to catch the perfect bottom, just make sure you buy it.

Actually i am not an expert, only sometime see market after people back from holiday in Sunday then create new demands in market. I am not price analysis but sometime i read people said that market have lower volume when in holiday or at end of the week. With that thing, that is why i said that maybe every Monday people will enter market again and make demands.

I think not necessary for Mondays to be the best days to buy bitcoin. Maybe we could get lucky that we succeeded with our Monday order but at other time, it won't happen for us like that. I believe we can be lucky at anytime.

No Sunday Monday, Good for buying bitcoin anytime, In my opinion it is safe and profitable to hold Bitcoin for long time without doing weekly short time trading. The official week starts on Monday so the Crypto market become a little bit volatile on that day nothing else.

I think this idea is overplayed, theres always risk and Iam not going to disagree Monday is an important day but a certain win for long positions is a losing idea and a way to trip yourself up when trading.   Anyone who wants to kid themselves they have a system or a magic point nobody else saw is a bit of a trick on yourself like all the guys with betting systems who with a fevered brow and desperate hope think this bet has to pay off.
   Monday is high traffic, thats all I'll agree with likely higher volume and perhaps a good time to place a bet but it could be long or could be best to be short for this week, especially now I think we can easily be retreating for some period here.     It wont always be bullish BTC action, we have been good in recent weeks for sure though.

I don't really believe in this kind of ideas that relates the movement of the price of Bitcoin from the day in a week because, the price of crypto currencies and Bitcoin doesn't depend on time, it depends from the state of the users: traders and investors of the specific coin, that changes the supply and demand of it. More demand means a higher price, certainly, the price of crypto currencies changes anytime and we couldn't limit and fix its movement for a specific day in a week.

I really cant subscribe to the days of the week or time of the year to buy bitcoin.  It doesnt make sense there is no real rationale to it so the trend if there is one wont continue on a linear line working.  If you are buying and selling based on the days of the week, you might win you might lose but its merely coincidental.

Why monday became a trending day to engage in btc? Been reading related topics for days now and even in our local thread it was discussed already.

I dont see the connection, it might be a coincidence. Yesterday the price recover a bit but after few hours another correction happened. If you're going to buy btc look at the price if there's a correction happening and not for specific day because its not accurate to buy during monday just because many speculate the price is declining.

I don't certainly rely on days in trading. If Mondays are great for buying btc, there are a lot of success traders by now which is contrary to the exact happening. It's just a coincidence though.

There are also saying that weekends are the good time to sell btc. But I don'y really believe on that. If we have strong confidence with our technical analysis, our good entry and exit will always be based on the indicators that I usually used.

For sure there's no connections since market fluctuation don't have any specific time. This day or week trading practices is very risky as you are trying to scalp while momentum shiftings is very possible to happened from time to time. Monday- Sunday is not an issue though if you are reading the chart you'll be getting some pattern on how will you able to take your chances to earned.

You just need to keep yourself focus, adjustment can be done if you understand how to take your opportunities.

Over and over the price of Bitcoin is associated with a certain day, even though it doesn't make any sense at all.
If you are still guided every Monday to buy Bitcoin I'm sure you will go bankrupt in the end.  how not, if yesterday on Monday you bought Bitcoin at a price of $10,000 and hold it until now the price of Bitcoin fell to $9300 of course it will make you panic then you sell it at a loss, so you can be close to bankruptcy.

Try to do a sensible analysis such as technical or fundamental analysis.
Don't guess a day like a shaman.

Of course, it's like Murphy's Laws.
You observe a pattern, you are almost sure it's bulletproof on paper, and when you first try with real money, it ends up being the opposite.

This whole topic is proof of how things can go terribly wrong.
For a brief period analyzed by the OP it did seem like the trend is correct and you can make a fortune, but ironically, immediately after he opened the topic the pattern changed and he would have ended with selling at a loss two times and not making any significant gains once.
This is not trading or anything like that, this is trying to find a way to guess the lucky numbers and the methods get more ridiculous by the day.



There are 52 weeks in a year, it is obvious that at some point by sheer luck a sequence of 2, 3 or maybe even 4 Mondays and Sundays will see the same pattern, it is also possible that if you analyze each day you might find an average with a day being higher than other multiple times in a row.
Just as you can get red 21 times in roulette or more than consecutive favorites to lose in horse racing things happen, but they will not happen repeatedly.
It's like playing martingale!

I think i have crossed almost same question/topic outside this section ,and still i am curious that if monday is really a good time to buy or sell? and also does the movement of market goes the same or almost in week start,and if there is a possibilities maybe we can gamble buying each monday if we are aiming to have for long time holding?is that applicable?i mean those investing small amount weekly maybe better to make timing every mondays.