Sharing my BTC strategy for bear and consolidating markets

[ChrisPop]

Can you use the strategy on lower timeframes? It looks like it is a long term trend following strategy using bollinger bands as primary indicator. If it is working so well I'm curious about your reasons for sharing it on the forum.

[pawanjain]

Well, it's a nice strategy and I have thought of the same too but we never know when the market goes in opposite direction.
This mere fact keeps me from trading. Obviously I know we have to take risks if we want to earn but I guess I am better at holding with patience than to trade with a panic.

[Superalgos]

Can you use the strategy on lower timeframes? It looks like it is a long term trend following strategy using bollinger bands as primary indicator. If it is working so well I'm curious about your reasons for sharing it on the forum.

It is a mid-term strategy. Trades may be open for several days occasionally. The strategy makes decision mainly on the 1-hour time period but checks conditions on higher time periods as well. It certainly wouldn't work AS IS in higher frequencies...

The reason why I'm openly sharing this is because we are an open source project. We are building an open-source trading automation platform and open-source strategies. The long term vision of the project is a global Collective Trading Intelligence at the service of all people.

Take a look at https://superalgos.org/

[Superalgos]

So, what do you guys think? Is consolidation over? Are we still facing a bull market?

[fullhdpixel]

So, what do you guys think? Is consolidation over? Are we still facing a bull market?

What makes you think that bitcoin consolidation has even arrived for it to be over, I don't think that we have even smelled the tip of bitcoin consolidation because during the time that bitcoin consolidate is when altcoins enters their season, and if I ask, have you see any slight recovery for altcoins? When bitcoin gets to that stage of consolidation, you will know, and no one will tell you when you see that all altcoins starts to moon in value.

It is this period that many people have been waiting for and that is the time I am waiting for also, I am hoping and praying that bitcoin goes sideways ,m so that we can get our investment out of some of these altcoins that have tied it down for a very long time now, especially some of those top altcoins.

[DevilSlayer]

There are opportunities if you want to make profit in market that is consolidating. It is easy to say that buying low and sell it high but the truth is it is really hard to execute. You should knownl the area of value which is support amd resistance for you to have an idea where you will buy and where you will sell.

[carlfebz2]

So, what do you guys think? Is consolidation over? Are we still facing a bull market?

What makes you think that bitcoin consolidation has even arrived for it to be over, I don't think that we have even smelled the tip of bitcoin consolidation because during the time that bitcoin consolidate is when altcoins enters their season, and if I ask, have you see any slight recovery for altcoins? When bitcoin gets to that stage of consolidation, you will know, and no one will tell you when you see that all altcoins starts to moon in value.

It is this period that many people have been waiting for and that is the time I am waiting for also, I am hoping and praying that bitcoin goes sideways ,m so that we can get our investment out of some of these altcoins that have tied it down for a very long time now, especially some of those top altcoins.

Consolidation on bitcoins price doesnt mean that it would shoot out altcoins price yet theres no precise thing that when bitcoin price do move on this way would give out
that pumping effect to alts.We wouldnt know if people are just accumulating their btc conversion to fiat and just waiting for an entry or just simply cash outing their btc for
reconsidering some alts.We wouldnt know actually thats why its really hard to predict.You might see some signs of movement but theres always been a hesitation everytime you would tend to make a move because the thing comes thru your mind is that it might be a fake movement.So it isnt really that easy to do so.

[Superalgos]

So, what do you guys think? Is consolidation over? Are we still facing a bull market?

What makes you think that bitcoin consolidation has even arrived for it to be over, I don't think that we have even smelled the tip of bitcoin consolidation because during the time that bitcoin consolidate is when altcoins enters their season, and if I ask, have you see any slight recovery for altcoins? When bitcoin gets to that stage of consolidation, you will know, and no one will tell you when you see that all altcoins starts to moon in value.

It is this period that many people have been waiting for and that is the time I am waiting for also, I am hoping and praying that bitcoin goes sideways ,m so that we can get our investment out of some of these altcoins that have tied it down for a very long time now, especially some of those top altcoins.

Sorry to break the news but you seem to be living in 2017. The assumption that alts will pump when bitcoin consolidates is no longer valid. 99.9% of alts are doomed to fail and everyone knows that by now.

Bitcoin started a consolidation period on June 27th 2019, after the years's high at +14 K. Some traders argue that the recovery of 24th October signaled the end of that consolidation period, but it's far from being a popular opinion yet, let alone confirmed by facts.

[Superalgos]

For people following this thread, you may want to know that the open-source strategy I pointed in the OP is again in the middle of a trade, shorting bitcoin... looking promising... The stop hasn't started trailing yet but will soon if the slide downwards continues... Current TP at 7.2k... See http://superalgos.org if you are interested...

[Superalgos]

Another great 15.7% win in BTC with the Weak-hands Buster open-source strategy. Bitcoin has been going down for several weeks, but there is no need to suffer if you manage to sell bitcoin as it starts diving and take the profit at the bottom, buying more bitcoin with the same money. This strategy may be fully automated in the Superalgos Desktop App and can help you with the timing. This is the trade closed an hour ago: