Monday is a good time to buy BTC? Is that proved one more time?

[justdimin]

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.

[Soldierswitlittlefaith]

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

[STT]

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:



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.

[chaser15]

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.

[carlisle1]

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.

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.

[Soldierswitlittlefaith]

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:



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.

".....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

[fortunecrypto]

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.

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.

[kapalmabur]

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

[traderethereum]

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.

[1Referee]

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

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.

[perla]

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.

[Gozie51]

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.

[kazakova]

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.

[STT]

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.

[criza]

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.

[wheelz1200]

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.

[lienfaye]

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.

[maxreish]

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.

[Pamadar]

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.

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.

[AakZaki]

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.