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April 30, 2018, 10:07:17 PM |
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It probably depends on what you are trying to do. Most exchanges don't allow you to short bitcoin, so your best scenario would be to continue to follow your bullish indicators, and use them to play the small bursts that you still have, even in a bear market. For instance, from what I've been seeing, using RSI on different time frames to spot oversold conditions, and then buying on those moments can still work on a bear market, but you would need to adjust the time frames and the levels your are looking for.
On a bull market, seeing a coin oversold on the 15min time frame, is probably enough to make a buy, and it doesn't need to be extremely oversold because you don't see that often. Getting it just to touch 30, would probably be enough. On a bear market, you would need to see a coin getting oversold on bigger time frames. You would probably need oversold conditions on all times frames from the 15min to the 4h, and they would need to be extremely oversold on the shorter time frames (probably in it's twenties or bellow that). This should be enough to buy on a bear market, and expect for a fast burst.
Also, you would more likely leave an open order on a bull market, and you would need to be fast to lock your profits on the bear market. I'm sure there are many tactics, but from what I've been studying, this one works well on crypto.
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