All Eyes On Bitcoin’s Monthly Close

[Zanab247]

Since there is still bear market in the community, show that very soon investors will start experiencing bull market that will make others investors to believe that bull market has finally come for both long term investors and short term investors to celebrate. I guess, this bull market we are about to enter will take a long months before bear market will appear for people to use the opportunity to buy again and hold until another bull .

[buwaytress]

I came up with this strategy after numerous tests and experiments on micro amounts. I did not test my strategy on a demo account, because the demo account does not live a market life and the real price behavior cannot be tracked there. Bitcoin is inherently volatile, but it always (sooner or later) bounces back, so you can use it and not spend your bitcoins in vain. When you are trading for a couple of hundred bucks, you can put a stop loss and quickly re-enter the trade, and when 4-8 bitcoins are involved in the trade, it is better to think a little more than make decisions like exiting on a stop loss, since when such amounts, one click of a button can take a lot of money from you.

Although I later realized that all trading is too tiring and sent it to hell by switching to investing.

Interesting reading up on your post exchanges here, also new for me to hear DCA being used in a trading perspective (and no, am not conveniently ignoring that as a DCA-er in the end I'm closing a trade if I plan to liquidate at some point, no matter how far down the line!).

Don't have the precise stats but yeah, Bitcoin spends about 80% of the time, if not more, in sideway and bearish motions, with short-lived rallies, but crucially, rallies that lift up the long-term bottoms... so DCA is just logically the most profitable way to invest.

I discovered what a tiring and soul-sucking thing trading was over a decade before I got into Bitcoin... am sure many of you've been down the forex road

[slaman29]

That's new to me, honestly, and it sounds like a really sound strategy for making sure your exposure is not overly big, I commend you on that.

I always see DCA as just buying non stop to hold for very very long time but this averaging is repetitive and constant, almost like betting an entire football game to lock in the value while hedging every outcome as it happens.

Good luck and yes, break even is better than loss (except the loss of time).

I came up with this strategy after numerous tests and experiments on micro amounts. I did not test my strategy on a demo account, because the demo account does not live a market life and the real price behavior cannot be tracked there. Bitcoin is inherently volatile, but it always (sooner or later) bounces back, so you can use it and not spend your bitcoins in vain. When you are trading for a couple of hundred bucks, you can put a stop loss and quickly re-enter the trade, and when 4-8 bitcoins are involved in the trade, it is better to think a little more than make decisions like exiting on a stop loss, since when such amounts, one click of a button can take a lot of money from you.

Although I later realized that all trading is too tiring and sent it to hell by switching to investing.

Demo testing is pointless, I see trading platforms hold contests all the time with demo and paying out real prize money, the question people/newbies should have been asking is why aren't these same traders successful when doing real trades? Live markets react in very different way, the most unpredictable of any algorithm.

And that's the best point about Bitcoin that you can use it and spend it even if you buy them high, they have a good use.

[Moshi Moshi]

it's still about 2 weeks until the closing of the monthly candle ends,
if what history says about bitcoin in October is bullish then I hope it happens and makes Bitcoin price reach $30k at the end of this month,
because $30k is a resistance that must be achieved if you don't want a breakdown again.

[bestcoins1]

it's still about 2 weeks until the closing of the monthly candle ends,
if what history says about bitcoin in October is bullish then I hope it happens and makes Bitcoin price reach $30k at the end of this month,
because $30k is a resistance that must be achieved if you don't want a breakdown again.

Does history have anything to say about how many years it was once in October in bullish terms? because i still don't think that every year in not october there will be bullish. But if it can happen this month with Bitcoin, I'm actually happy to see it because bullishness is what everyone needs right now. Even more so for those who still hold Bitcoin and also those who are still investing in Bitcoin within this year.

[Vinaa77]

You've made two topics today on monthly close? I start to think that this monthly close didn't get the attention you've been expecting and try to do more.

Well, we're in bear market. And the bear market will end. Maybe it did, or maybe it ends today, or in a couple days, weeks or months. Learn to have more patience and enjoy the ride. And yeah, HODL.

Some argue that the bear market is over, and others say it continues. But I see this is still the early stages of a bear market. Maybe it will continue, so we control and continue to evaluate our assets. I'm sure crypto prices will continue to dump, and haven't found anything that can pump up crypto prices. Many issues were developed, including the issue of Russia legalizing Bitcoin. But the issue cannot affect the market price.

[Wong Goblog]

It is natural because Bitcoin is Cryptocurrencies which is a measure of the market situation, if the price rises then it is likely that Altcoins will also rise and vice versa. Besides Bitcoin is Cryptocurrencies with the biggest user so it is always interesting to follow the price trend.

[STT]

Once again BTC declines today having failed at the 50 day average hurdle and now we turn back to 18k area of support which has marked the lows.    Appears likely we just repeat this back and forth until month end or even longer, most likely an event, news or main markets having a stormy conclusion to their current down turn; ideal being the Dollar index itself breaks rather then any worthwhile non political asset such as BTC.   We can be sideways till next spring, next year so this month ending flat is to be expected.

[TravelMug]

Once again BTC declines today having failed at the 50 day average hurdle and now we turn back to 18k area of support which has marked the lows.    Appears likely we just repeat this back and forth until month end or even longer, most likely an event, news or main markets having a stormy conclusion to their current down turn; ideal being the Dollar index itself breaks rather then any worthwhile non political asset such as BTC.   We can be sideways till next spring, next year so this month ending flat is to be expected.

Yes, although the price goes to $19,500, not seeing it getting to $20k at least for this month. Maybe that will be the farthest that we can reach and then decline again to $18k.

And as others pointed out, the economy is worsening, dollar is getting weak and then the war still in the background. So no respite for this year or even in 2023, I still think that the market will continue to decline or in a sideways.

[Russlenat]

All eyes will certainly wait for the monthly closure of Bitcoin prices, this is because at this time Bitcoin is an asset that will continue to be monitored because the price is very fluctuating, besides that of course to see the market conditions in general whether red or green then we can from the position of Bitcoin prices.

Not only for monthly closure, but most likely for its year end price as bitcoin price will always be a reflection for altcoins price movement in the market. But to be honest, I am not seeing bitcoin this year reaching a new significant price because considering the market still in bearish position, so probably if bitcoin price suddenly surges high, it will always have high chances to bounce back again and drop its price.

[GeorgeJohn]

Actually i didn't understand full of your statement as per says, so from experience i do think you are emphasising on the monthly price will bitcoin will land into before the end of this remaining months of cryptocurrency, so therefore i believe that Bitcoin will still moving slowly in the market price except it's a situation whereby people who are investors go in into the market to bump the market.