Don't follow the trends, work with price actions

[Rengga Jati]

Following market trends will only result in FUD, FOMO, and other critical barriers. The essential element is price action; bitcoin works mostly with price action.

For some reason, this is exactly true. Following trends without good analysis and good understanding means that we are doing stupid decision. However if we are following the hype and FOMO without any awareness to analyze at first. This will be bad enough. However, if someone is having good understanding and experiences to utilize the trends of hype, this may become a very good chance for them to collect more profits. Because, they can utilize the right time to set the token or coins to buy and sell at the right moment. They can utilize other people FOMO or hype to gain the profits. But once more, this is tricky and can be too risky. If this is about Bitcoin itself, Bitcoin trend sometimes will make the price going up very highly, but this can be also the opposite very easily when there is bad news after the time.
SO, in this case, being careful and wise enough is very important to do in investing in Bitcoin and other cryptocurrencies in order to manage and control ourselves to do something better and not based on FOMO only.

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[DiMarxist]

Bitcoin recovered from the worse crashes in the past and this one will be no different. The recent events like ordinals will get solved by the devs and bitcoin will be a cheap and fast network again. the market merely represents demand and supply, and it is volatile, but no procedures can be followed to make it more stable. That's why they view bitcoin as riskier than other assets. Price correction occurs in every ATH. Bitcoin's previous ATH happened in 2021. We are currently in 2023 and we are still waiting for new ATH to arrive.

[Franctoshi]

it works hand in hand, trend and price action. Because if there are no trend, whether positive or negative, the price will not move at all. So lessons here is that we should be cautious of our trading and the money that we are investing in this market, as the saying goes, invest what you can afford to lose.

The approach to trading greatly varies from person to person, and it ultimately depends on your individual preferences. Different individuals employ diverse strategies, with some following trends while others rely on chart analysis. Personally, I have never adhered to unrealistic predictions and instead make decisions based on what I believe works best for me. I find it profitable to capitalize on market volatility, so I often observe the charts and monitor how they are behaving. I tend to hold my investments until I have achieved substantial profits.

I totally agree with you, I'm still trying to figure out how to trade only the price action without looking at where the trend is about to go, for me both works in a synchronize form,  price action makes the trend either ways uptrend or downtrend, price action gives you the historical view of what has happened with the price of an asset in the past and you implement your trades base on current market situation, basically where the trend is currently sitting.

However, every trader uses a strategy that suits his kind of trading style.

[irhact]

The market is designed in such a way that if certain procedures are not followed, it will drain one's trading account. Bitcoin has been around for several decades, and we all understand how important the project is. Most traders predicted that trading bitcoin would completely disrupt the market. Do you believe that price action is more essential than trends?

Bitcoin has been around for just 14years so you can't say Bitcoin has been around for several decades, if you used years then your statement would had been correct. Those who predicted $100k last bull market, where did they see that happening because it wasn't in the charts. They just give that prediction to make investors fomo and it worked.

You shouldn't invest or trade because everyone is doing it. If you follow trends, you'll end yourself in lose because trends fade away and when that happens people begin selling their tokens and if you didn't sell yours on time, you'll lose as you won't be able to sell high.

[ethereumhunter]

Bitcoin recovered from the worse crashes in the past and this one will be no different. The recent events like ordinals will get solved by the devs and bitcoin will be a cheap and fast network again. the market merely represents demand and supply, and it is volatile, but no procedures can be followed to make it more stable. That's why they view bitcoin as riskier than other assets. Price correction occurs in every ATH. Bitcoin's previous ATH happened in 2021. We are currently in 2023 and we are still waiting for new ATH to arrive.

We better be patient until the problems on the bitcoin network are resolved properly. Meanwhile, with the current market situation, maybe we can take a break from trading and use our time for other things because the bitcoin market also doesn't experience significant increases or decreases. So it looks like the market will still be like this and if this happens until the end of the month, we have enough time to rest so that when the market recovers, we can trade well because we have had enough rest. I just think like that for now.

[isaac_clarke22]

The approach to trading greatly varies from person to person, and it ultimately depends on your individual preferences. Different individuals employ diverse strategies, with some following trends while others rely on chart analysis. Personally, I have never adhered to unrealistic predictions and instead make decisions based on what I believe works best for me. I find it profitable to capitalize on market volatility, so I often observe the charts and monitor how they are behaving. I tend to hold my investments until I have achieved substantial profits.

Sadly there are just those that are forced to do the other approaches since they think that's the most profitable. I was one of those people, but good thing I changed my ways to never just follow what strategy other people do. I thought that the only way to trade is by day trading.

From the market's volatility, I just consider hodling like I had done since 2018s when day trading just fails for me.

Bitcoin has been around for just 14years so you can't say Bitcoin has been around for several decades, if you used years then your statement would had been correct. Those who predicted $100k last bull market, where did they see that happening because it wasn't in the charts. They just give that prediction to make investors fomo and it worked.

You shouldn't invest or trade because everyone is doing it. If you follow trends, you'll end yourself in lose because trends fade away and when that happens people begin selling their tokens and if you didn't sell yours on time, you'll lose as you won't be able to sell high.

The good thing about trends is that you can go against it anyway. It's not meant to be purely followed. Rememeber the Elon-Doge-Shiba hype? I was against the hype and I didn't buy the news just because a popular celebrity just shilled the crap out of the coin. I stood my ground for Bitcoin and see where the ATH at that day led us. BOOM! 64k.

[Rupok]

The Bitcoin project is very important because we have been seeing the impact of Bitcoin on the market for decades. Although most of the traders made predictions, the predictions are not always correct.Newbies to Bitcoin trading depend on the predictions of others and panic when the market is completely disrupted.The most common mistake Bitcoin investors make is following trends without good analysis and understanding. I think price action is more important than trends for those who want to invest for the long term.

[bayu7adi]

(...) The best thing for me to do at that point is to share my holdings into two parts: sell one part and take both my profit and my invested capital, and hold the rest. By watching the market closely, if the market is to go higher, I will still gain more, but if the price is to drop a bit lower, I will also use the sold-out funds to purchase more and add to my holdings.

So, are you just taking a risk by holding onto the profits you just made without selling them yet? Although this strategy is quite popular, and many of my friends use it, I'm not quite comfortable with it. I prefer using the stop-limit function when the price reaches the target. Expect to make even more little gain because the target profit is already within sight.
At this moment, I'll re-analyze for a while, it could be the same coin or even another altcoin. When I find the right entry point, I'll take profit from my previous trading and start executing for the next one.

[Nwada001]

(...) The best thing for me to do at that point is to share my holdings into two parts: sell one part and take both my profit and my invested capital, and hold the rest. By watching the market closely, if the market is to go higher, I will still gain more, but if the price is to drop a bit lower, I will also use the sold-out funds to purchase more and add to my holdings.

So, are you just taking a risk by holding onto the profits you just made without selling them yet? Although this strategy is quite popular, and many of my friends use it, I'm not quite comfortable with it. I prefer using the stop-limit function when the price reaches the target. Expect to make even more little gain because the target profit is already within sight.
At this moment, I'll re-analyze for a while, it could be the same coin or even another altcoin. When I find the right entry point, I'll take profit from my previous trading and start executing for the next one.

I'm not completely holding onto the profit I made from holding; just as I have highlighted above, I share my hodlings into two parts in order not to be considered greedy (which everyone desires to earn higher when necessary) and I sell part of it so that I won't completely lose. At this point, I sold a few on my main set-out take-profit limit. And leave the rest; by doing so, I have actually followed my own strategies while at the same time involving myself in another risk of holding, which can either earn me more or make me lose what I have already seen with my own eyes; it's just my decision. I've been working with this for a long time on a few coins, and it has worked for me, but it's not all coins that are actually worth the risk; in most cases, I pick up profit when I see one, sometimes without even waiting for it to hit my target.

[Victorik]

Trends are good indicators because demand simply controls the market price. What's wrong is to sit on a trend wherein it is a changing factor in the first place. Trend is a good indicator but for a short period of time unlike with price actions which determines the trend. Both are valid I guess, it is just the application of these two which results to wrong doings of investors and traders.

Point of correction, BTC hasn't been around for decades, and also, I do not know what you mean by procedure to be followed so that trading account shouldn't be drained..I would appreciate if you throw more lights on this.
Personally, as much price action is good, trends is equally important. That's because, for every trend, people are making money, so you can tell them trend is bad.

Price correction occurs in every ATH. Maybe if you cannot see it, you are in the wrong time frame. Daily and weekly time frames would show a more detailed price actions. But that is indeed true; good price actions lead to good price trends.

Great points! Trends can be useful indicators, but they should not be the sole factor in making investment decisions. It's important to also consider other factors such as news, regulations, and the overall market sentiment. Using a combination of trend analysis and price action analysis as you mentioned above can provide a more comprehensive understanding of Bitcoin's movements and help make informed trading decisions.

In addition to that, conducting thorough research and being cautious of false information (FUD's) can also help mitigate risks and avoid making wrong decisions.

Yea. Trends shouldn't be relied on solely when making decision on where to invest your money. Sometimes a trend may end up been scam. It has happened to me a couple times, and I know for a fact not to depend on trend. Research is a must,.you should know about what you are investing your money in, and not just jump.into a trade because everyone is talking about it.

Trends are good indicators because demand simply controls the market price. What's wrong is to sit on a trend wherein it is a changing factor in the first place. Trend is a good indicator but for a short period of time unlike with price actions which determines the trend. Both are valid I guess, it is just the application of these two which results to wrong doings of investors and traders.

Point of correction, BTC hasn't been around for decades, and also, I do not know what you mean by procedure to be followed so that trading account shouldn't be drained..I would appreciate if you throw more lights on this.
Personally, as much price action is good, trends is equally important. That's because, for every trend, people are making money, so you can tell them trend is bad.

Price correction occurs in every ATH. Maybe if you cannot see it, you are in the wrong time frame. Daily and weekly time frames would show a more detailed price actions. But that is indeed true; good price actions lead to good price trends.

You are right. Trends are good indicators and should be considered as well as price actions when making investment decision. But the OP is saying that trends shouldn't be followed. I totally disagree with that. As a matter of fact, in this space, you follow trend and not try to fight it. If you don't follow trends, you will get left behind.

[glendall]

btc doesn't need a trend anymore I think, because now btc is on top, because the crypto market is very volatile and very sensitive to economic and political factors and news. so all of these things greatly affect the price of btc itself
but for long-term investors price fluctuations and fuds don't affect it, because they have a target of how much profit they will take in their investment

[josephsonand]

Trends may be tempting, but price action is the true compass. It's like the heartbeat of the market, guiding your decisions. Stay tuned to the price action symphony and dance your way to success.

[kaseygriffin]

As I learned from the news market always comes with price volatility, and vice versa. Looking at the crypto market, I can only say that the actual size of this market is still very small compared to the current economic level, that's why it is easily manipulated in the prices of many different products. . But also strongly agree that the view of real value is taking place, but I understand this is only for people who have experience from the market and they will not get caught up in the information generated in the market. Each period is different, when the goal of investing in this market is clear and consistent, I think the psychological fluctuations from the information are only a small part of the decision to the investment journey.

[smile1218]

Price action and market trends are both very important elements in trading Bitcoin. There are some traders believes that prices action is more essential tool because it can provide a clearer picture of the market's behavior and can help traders make more informed decisions. Price action provides also valuable information about actual movements of an asset's price. That being said, it's important to consider that both price and action and market trends when making trading a decision.

[Josefjix]

Price action and market trends are both very important elements in trading Bitcoin. There are some traders believes that prices action is more essential tool because it can provide a clearer picture of the market's behavior and can help traders make more informed decisions. Price action provides also valuable information about actual movements of an asset's price. That being said, it's important to consider that both price and action and market trends when making trading a decision.

The market's day-to-day swings are based on the market's high level of demand and supply. Considering a single trade triggered with big figures can either flip the market bullish or bearish, whales and major firms dominate the markets with fuel liquidity. Price actions are without a doubt one of the most important factors in the market; they provide traders with a complete perspective of the market, as well as solid trade setups and entrances. The majority of traders follow price actions more than trends; however, it all relies on the trader's strategy.
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[YUriy1991]

Bitcoin has been around for several decades, and we all understand how important the project is. Most traders predicted that trading bitcoin would completely disrupt the market. Do you believe that price action is more essential than trends?

The crypto market is a business market. Well, that's where the importance of updating information. I think we here know that there are many parties that play a role and influence BTC trading so that it becomes fluctuating.

if I'm not mistaken the first one Users or investors: where every decision of their actions can affect the price and market liquidity. Second Regulators and the government: Maybe this is easy to guess. Yes. from the point of view of the regulations they enter into, Third Financial institutions and lastly financial market turmoil due to the geopolitical situation and monetary policy.

[BVeyron]

Following market trends will only result in FUD, FOMO, and other critical barriers. The essential element is price action; bitcoin works mostly with price action. For instance, two years ago, bitcoin was valued at $49,151, and pro traders anticipated bitcoin would reach $100,000, but their predictions were dashed when the market stumbled. The market is designed in such a way that if certain procedures are not followed, it will drain one's trading account. Bitcoin has been around for several decades, and we all understand how important the project is. Most traders predicted that trading bitcoin would completely disrupt the market. Do you believe that price action is more essential than trends?

Investments in BTC are suitable for a long-term, it can't create a good profit by trading unless you have thousands of BTC. So I assume that trends for btc is a random thing, which actually correlate with real price fluctuations very loosely.