Hi guys
Usually Bitcoin significantly pulls up the alts at some key level. What do you think will be the level this time?
Would be curious to hear opinions!
Best, Peter
Concerning about the altseason, I don't think it will be determined by the bitcoin price for this year. This year unlike previous years have been different with the halving. For 2017 the altcoins rally was after the bitcoin bull had stopped then Ethereum began a rally that ursherd altcoins into the season but this time, I think Ethereum has done better move with binance and few others so maybe it may be an independent run based on the utility of the coin or it can come after the end of this year like speculators analyse bitcoin price to bear after this year. |
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It's not likely to move below the 50 week average just yet and if it did so it would be the first time for this whole year so especially bearish. Some price levels are related to a rough sentiment that would match that amount of movement in the price. I doubt we get it by month end but should we have a prolonged series of negative weeks into months it might occur before resolving one way or the other.
Bitcoin has moved above the price that it can correct back to below 50k as at the moment the Bitcoin correction benchmark is 61k and 59k respectively which is an indication of a pending Bitcoin bull run which will see Bitcoin moving to 70k before the end of October. $70k for this month is not achievable as we see price has ranged between $61k this week and may end so. The moving average on a monthly time is not looking upwards and that is a sign of a correction of the bull experienced lately. The bull run so far got no strength guess we have to keep fingers crossed for next month. |
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But yea, this may or may not be the top, but if anyone's planning on trying to time it and sell the top, I sincerely wish them the best of luck because they're going to really need it.
The top may still be far from what we have now. Someone selling all the hodling of bitcoin may do that with regret so selling little because of needing to and hodling more may not hurt much. The time has gone for such bear in the past. A close look to the movement of bitcoin from September to October is a good example of a project going forward. |
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Trading with leverage is profitable when your capital is big, because if your capital is just $10, you're wasting time and your TA. I mean if you successfully made a profit through your TA using your $10 with only 20x leverage on futures, you'll only get a little, such a waste of opportunity in my opinion unless you are a very patient perseverance person, then go for it.
But if you've got a pretty good capital in Trading, using 5x-10x leverage while betting 30-40% of it is good by putting the right stop loss and take profit with your TA.
Nice understanding and some analysis but I think your percentage of staking is high whether with leverage or no leverage. 5 to 10x leverage with 30-40% of it is high. Leverage isn't your money, it is considered as a loan that you first service before your capital meaning anything can happen despite the assurance you see in your trade order. Meanwhile leverage for small capital or big capital is the same is to understand it |
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it's bad strategy not to have an exit point. Every trader should have a TP set and must not move the TP further without adjust their SL position.
Very good advise but to keep to it is the battle between us and our emotion plus greed to go for more profit. Having exit plan and keep to it is sure way to trading success. Although experience can teach us the hard way. This is what happened to me several times in the past, I was very happy and I was looking at my profits constantly rising and instead of starting to take profits, the price of the coin began to decline and the profits began to disappear and here the feeling completely changed from the top of happiness to sadness, so it is better for every trader to He sets a goal and is satisfied with the profits he has obtained, and does not become greedy because this is one of the biggest mistakes that traders make in trading, so I agree with you that taking profits before it is too late is better than greed and bearing the loss later.
I can understand such feeling and at a point you wiah that it goes back to the earlier profit for your exit but they may not happen because the opportunity has been lost. This is the reason setting a profit level is better so that at the point your profit is logged out for you automatically. |
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This is important to a day trader. I like to relate this to comedians. In comedy , I see that the comedians usually leave the stage when they have made a hit joke that cracked audience up real good and they just tell you there time is up and at this time the applause is higher the more. This leaves the comedian happy in his closest while the audience too enjoy the feel of their money. In relation ton trading too , when you are at the top of your profit and you are not sure or certain of the next market spike or movement, instead you waiting for take profit you can exit the market and go with happiness with what you made already before price crash because most times when ovaction is laudest, some audience might start "criticizing and you get a wipe"  That's a really good example of taking your profits while you can than to wait for more profits but eventually drain all of it in a crash. This happens with many of us when our greed kicks in and although we are in good profits already we tend to wait more thinking we can get more profits. But since the market goes up it has come down as well and we lose our profits in the correction. It because a tale of regrets to us when it happens. A wiser person is the one who learn from others mistakes or reads it like we are trying to pass the information here from our experience. Most times we suppose to have plenty profit when we cash out early but we never do so quick enough to escape correction. I believe a day trader should always also take quick profit out daily and not to wait too long to accumulate more profit because you can take the profit on another trade and gradually you grow steady profit taking strategy. |
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This is important to a day trader. I like to relate this to comedians. In comedy , I see that the comedians usually leave the stage when they have made a hit joke that cracked audience up real good and they just tell you there time is up and at this time the applause is higher the more. This leaves the comedian happy in his closest while the audience too enjoy the feel of their money. In relation ton trading too , when you are at the top of your profit and you are not sure or certain of the next market spike or movement, instead you waiting for take profit you can exit the market and go with happiness with what you made already before price crash because most times when ovaction is laudest, some audience might start "criticizing and you get a wipe" |
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I don't use any bots. because I'm not the type of trader who trades intensely, I only trade part time.
In my opinion using a bot will not have any effect for me, and trading bots are more suitable for professional traders because professional trading usually requires a lot of analysis and also large capital for trading, so it must be properly managed
No it is not all the professional traders that use bots. Bots are not really perfect for analysing market but they can be configured to follow the instructions and market. The traders that use bots are not just professionals but people that have less time to stay under the computer so they give themselves to either copy trading or bots. I prefer to trade on myself and not to use bots because I have also seen complain about it, I don't see any strategy as perfect including bits. |
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The second-best time was any day in 2020 before going past the 20K mark.
Well said, the third best time would then be during the next bear market. We just have to exercise patience and wait. There's no need putting yourself in a tight spot right now because sooner than we think, the bear will be taking over the market and when that does happen you wouldn't want to be caught in a bear trap in alts. Are there any guarantee that the bear market will come anytime soon ? The market can bring a lot of surprise to change huge expectations against next year. For the time now there are no negative news against bitcoin, no whale rating against bitcoin. We will wait for that time but I advise to either buy Ethereum. |
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Do you think Bitcoin will touch the 1 million milestone in 2022? I think Bitcoin will cross 80 thousand dollars in 2022. What do you think?
Surely $80k for next year is realistic to be met , the price for this 4th quarter is really bullish and that can happen easily probably in the month of December but a million dollar for 2022 is a milestone that IMO is not realistic. That 1 million in next 5 years can be considered but at this next year is too close to have such thought to come soonest. |
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Friday could be a good time to start analysing the market and find if the market can be the time to buy more or sell some because sometimes, the altcoin or even bitcoin can give a sign to buy or sell. But mostly, from Friday, the market can get down for a while, but the next time, the market can get up, so there is no sure about that. But sometimes, the market can move in the middle of the week until the weekend. So once again, it can feel difficult to analyze the market movements.
Sunday's like today are more analysing days for the week this is because it is the beginning of new trading day that all and sundry gets into business but this is surprisingly so since it is suppose to be 24hours trading but because more traders pull out for weekend break it reduces volatility to a level except there is an important event that pushes the market. Altcoins are hardly volatile during weekends. |
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Having the right idea about the market will be profitable for all kinds of trades or investments in the long run.
This is the most important part of trading. Knowing the market gives you confident to understand the direction of market even when volume of trade drops. However I notice that during the weekend the market slows down most of the time which decrease the volume but surprisingly few times it drops or increases like lightening. I also notice that new trend appears after the slide or increase by Sunday night. |
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Hello friends happy weekend to you all. What do you think about Saturday and Sunday trading  Considering it with week days which do you see as profitable or they are just the same thing to you. I like for us to share how we feel about these two trading times, if you make more profit more or loss more on any of week days or weekend trading. As we know trading is just about how to make profit. |
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Ew is not really understood by many traders because it has some complications in understanding as different times the waves intertwined themselves. I do combine EW with candlesticks. The candlestick on a longer time shows what a short time can do and that gives a better sign for ordering your market. Elliot waves need to be studied very well for nice ride on it.
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It's all about how fast you could cope up on trading to become profitable. You need to find your own indicators that suits your style in trading.
It comes to passion you have for the business of trading. Yes if no passion then success rate will be limited and poor but a passionate trader tries to understand his pattern, strategy and market movement. No strategy is perfect for avoiding of losses but a winning of 80% success rate is good to follow. Many traders have no passion for it but they like the profit part. It is a business for passionate people and not for people who rely on trading platforms because no platform can give a 100% winning rate. |
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If I did not get you right, what kind of information you want to provide here that will be helpful? You will need to provide more information about this, but I do not think that will be helpful here if you want to be predicting bitcoin price here.
I think it is simple maybe nothing more than market analysis of different timeframe and speculation of what can happen just as some thread too have created charts and analysis. It is basically the technical aspect of market that can help new trades incase they want to be over reacting to market and FOMO to jump into the market. It won't help much because you can just follow the chart and do what is in your mind as always the case with trading. |
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That MEME validates that Bitcoin is currently not “right” to use as a medium of exchange. We don’t know what its real price is because it is on a path to price discovery. If your transaction doesn’t require censorship-resistance, keep HODLing your Bitcoin.
You also know that we can't just be on the hodling for longer than we can when there are issues of finance all the time. The times are hard and even with censorship transaction, we sometimes have no choice but going through it to safe our heads at such a point when all we have is our hodling in bitcoin but reinvesting is always nice to do. When it comes to health issues IMO we can't keep the hodling on. |
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if someone lacks knowledge of crypto, it is better to invest in stocks, due to the risk and lack of insight into researching Bitcoin/cryptocurrency price movements is really needed.
Despite that both need training, understanding and experience. You can't invest in stock or cryptocurrency and be successful without having a good knowledge about it. Stock is more risk managed because there are known brokers who guide the individual investors on what to do either because stock investment is already old and established, so people can be schooled and educated and be coach or professional. Cryptocreency is still a green horn actually and this is why many still encounter losses on it but both are same risky and profitable. |
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The immediate drop of price after it beat the previous ATH of $63k+ and to $66,900 is a sign of profit taking that investors did and that did not last for long as price got sustained above $63k and yet at this time of writing, the price is still rally up which meaning we are probably seeing more run by the weekend and next week.
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Although bitcoin is currently around $63k, but this does not guarantee bitcoin will continue to be worth, this is because bitcoin has a decentralized concept so that the price goes up or down depending on the community, maybe the price will continue to rise because the community is getting bigger but we have to be realistic that one day bitcoins can be worthless.
Lol you have contradicted yourself if you say one day bitcoins can be worthless because you didn't also give your reason for that allusion you made. But you have to understand that there is a financial digital marketing revolution going on creating an option to domestic currency. This is to say something going on that no body is able to stop it. |
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