What is a best way of taking advantage of BTC dips when away?

[LogitechMouse]

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Don't tell me to use a centralized exchange, been not active in crypto space means that a centralized exchange can collapse before you come back, I want something in my control.

If you have a better option, don't hesitate to share.

Well, putting an early order on centralized exchange is your best choice when you're busy 24 hours a day. Busy people will always be busy, but if you really want to buy, you can spend a few minutes of your time to keep yourself updated on the price of Bitcoin. I'm a busy person as well (I'm having sleeps of lesser than 6 hours already which makes me groggy all the time) but still, I'm allotting at least a few minutes of my time to keep myself updated. Can't you do that?

Using a centralized exchange and putting an early order is the best option for you. The market will not adjust base on what you're doing lol. The market doesn't care about you, or what you're doing. You're the one to adjust if you want to buy when the market is dipping. You aren't active in the crypto space, but you want to buy? If you want to buy, have some time. If you want profits, allocate some time. If you want to buy Bitcoin, use a Centralized exchange if you're "BUSY", and use a DEX if you prefer to be anonymous.

Already shared my opinion, and what you want will not work for you. All of us who want to make profit in crypto allocated some of our time to keep us updated with the happenings on the market including corrections.

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[kentrolla]

Isn't it too demanding ? Either you need to set price reminders and take appropriate action on buying the dips or need to set buy orders at lesser price in centralized exchanges and when you say you will be away and CEX can shutdown by the time you will be back does it mean you will be away for decades or years? Instead of hassle I would suggest you doing DCA as that's more safer and hassle-free.

[Marvelockg]

Do you need to be on the forum before knowing the price  of Bitcoin? Except you are in an environment with little or no Internet connection, knowing the current price of Bitcoin isn't something that's complex or that necessarily mean that you have have to leave your money in an exchange. I know the possible issue you might probably consider is you might not be consistent some weeks and then Bitcoin dips to the level you will normally want to buy to put yourself in a profit but doesn't that seems like a very complex scenario that you're putting yourself into? If you have the resource handy, you can still buy at this current price instead of waiting till Bitcoin dips to a comfortable point you would normally want to buy considering the fact that it might or might never dip to that point or that this current price could be the best DIP you would normally witness theouout the year.

From the price movement of Bitcoin, it's certainly showing a positive sign that it's going to increase from this $66k range it's been revolving around for a while now and with the halving gradually approaching, this could be a good dip to start Buying.

[pawanjain]

Call me an idiot, I don't care but I believe that this question deserves some answer.

I have been hearing about the importance of buying Bitcoin at the dip and something good strikes my heart.

What if I can't be available when Bitcoin is dumping? What if I am away because in reality I am always busy, you can tell how epileptic my activeness on this forum have become.

Is there anyway to buy Bitcoin dips when I am not available? So this come to my mind straight away.

A bitcoin buy the dip bot, that can trigger a certain price when I am away, is this possible?

Don't tell me to use a centralized exchange, been not active in crypto space means that a centralized exchange can collapse before you come back, I want something in my control.

If you have a better option, don't hesitate to share.

If you don't want to use centralized exchanges then you can manually purchase bitcoin yourself.
You can create a telegram bot that keeps notifying you of the dips and then you can make the bitcoin purchases.
If you are not available to buy then add binance API to your telegram bot that make purchases during the dips.
Once you are available then you can transfer those coins to your main wallet.

[Eternad]

Why do you need some bot? You can simply just set up limit orders on exchanges so your exchange account automatically buys when BTC's price reaches a certain price. Most half-decent centralized exchanges have a limit order feature; unless you're trading P2P.

His problem will be solved easily if he will use CEX but he mention specifically that he doesn’t want to use CEX due to the danger of closure of exchange once he far away when he leave his funds in the exchange for the limit orders.

His other option is to use bot that can be integrated on decentralized exchange such as Bisq. But I’m not sure if there’s available bot in the market right now because there’s no demand for this due to CEX which can be use as an easy fix to solve OP dilemma.

[GbitG]

Fun fact: Some centralized exchanges are safer than trading bots when it comes to making trades when you are away and might come back at a later time.
 
So, if you say you are not going to use a centralized exchange for the reason that you are mostly away and you may come back to see the exchange has gone bankrupt or is closed down, I would say a bot would have more risks than that. You barely have a lot of options based on your requirements, so I would say you should go for a reputable centralized exchange such as Binance to make that work. You can easily place a limit order at your desired price, and it will get filled if Bitcoin manages to dip to that point.

[Ale88]

Call me an idiot, I don't care but I believe that this question deserves some answer.

I have been hearing about the importance of buying Bitcoin at the dip and something good strikes my heart.

What if I can't be available when Bitcoin is dumping? What if I am away because in reality I am always busy, you can tell how epileptic my activeness on this forum have become.

Is there anyway to buy Bitcoin dips when I am not available? So this come to my mind straight away.

A bitcoin buy the dip bot, that can trigger a certain price when I am away, is this possible?

Don't tell me to use a centralized exchange, been not active in crypto space means that a centralized exchange can collapse before you come back, I want something in my control.

If you have a better option, don't hesitate to share.

If you want to know when bitcoin is dumping just download an app and set notifications: you choose the value and when (and if) bitcoin reaches that number you simply get a notification and you know it. Otherwise you can just set some limit orders on some exchange and, again, if and when bitcoin
reaches that value you automatically buy without being online. You don't need a bot to do this type of stuff.

[_BlackStar]

If you really care about privacy and don't have a few minutes in the 24 hours just to check price - have someone volunteer to monitor prices for you 24/7. But if I were in your position – downloading one of the portfolio tracking apps seems like a good solution for me to try, at least I can set a notification alarm when the price I want is touched.

You could also try this - I think it will help.

Code:

https://www.coingecko.com/en/portfolio

[Maus0728]

How long are you going to be away though? I think that even with an advanced trading bot that would buy for whenever the dip happens, you still need to check on it on a regular basis. I don't think there's even one that would suit what you need because it seems that you're going to be going away for a really long time. Hope that you'd find what you're looking for though and good luck because you're going to need it since there's not really a lot of these specific bots that are in here, that is even if there's one in existence. Maybe you can reconfigure the commercially available bots to your preferences since most trading bots have that feature too.

[Woodie]

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What if I can't be available when Bitcoin is dumping? What if I am away because in reality I am always busy, you can tell how epileptic my activeness on this forum have become.

Is there anyway to buy Bitcoin dips when I am not available? So this come to my mind straight away.

The secret to this is knowing your technical analysis and employ a good risk management, and once you have this you can put in your pending orders that will fill once price pulls back (dips) to your price...just avoid buying at a premium.

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A bitcoin buy the dip bot, that can trigger a certain price when I am away, is this possible?

Very much possible, by the way a simple limit order or stop pending order can help you just depends if you buying to hodl or its leveraged trading you are after.

 

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Don't tell me to use a centralized exchange, been not active in crypto space means that a centralized exchange can collapse before you come back, I want something in my control.

If you have a better option, don't hesitate to share.

Buy from a centralised exchange then move coins to a non-custodial wallet, problem solved.

[Crypto Library]

I have never used a trading bot and also never done bitcoin short-term trading with a decentralized wallet. But as much as I think if you want an automatic system then you have to use bot to set the target price beforehand according to your strategy and where your wallet should be near one kind of access bot. On the other hand another way is to use centralized exchanger which you don't want. If you have to trade in decentralized way with high trading fee using bot, then I think it is better to use centralized wallet. The difference here is that the third party bot has taken access to your wallet in one case and on the other hand your funds have to be deposited with the third party. If you want to do de-centralized trading, you can trade manually using the above suggested telegram bitcoin price notifier bot, it will be the best for you.

[Rikafip]

You can simply just set up limit orders on exchanges so your exchange account automatically buys when BTC's price reaches a certain price. Most half-decent centralized exchanges have a limit order feature; unless you're trading P2P.

He explicitly said that he doesn't want to use centralized exchanbges so limit orders are not an option.


@OP I am not sure that you will find the quality solution that meets all your criteria, imho you will have to make some compromises or simply forget about the idea. I personally woulnd't obsses about it so much as I don't think that it matters much in the long run if you are buying bitcoin regularly.

[avikz]

Call me an idiot, I don't care but I believe that this question deserves some answer.

I have been hearing about the importance of buying Bitcoin at the dip and something good strikes my heart.

What if I can't be available when Bitcoin is dumping? What if I am away because in reality I am always busy, you can tell how epileptic my activeness on this forum have become.

Is there anyway to buy Bitcoin dips when I am not available? So this come to my mind straight away.

A bitcoin buy the dip bot, that can trigger a certain price when I am away, is this possible?

Don't tell me to use a centralized exchange, been not active in crypto space means that a centralized exchange can collapse before you come back, I want something in my control.

If you have a better option, don't hesitate to share.

Not sure about bots but there are exchanges where you can place "limit orders". Which means, you place an order to buy bitcoin at a specific price given by you. If Bitcoin reaches that price, you order will be executed and you will have your bitcoins. You can do your own research on the exchanges as I not going to promote any exchange here. But this is very much possible.

But usually these order come with an expiry. So check about the expiry before you place one. Once an order is expired, you can place a fresh one. Unless the orders are executed, you will not have to pay any brokerages either. So it's a win-win scenario for you.

[boyptc]

What you are suggesting to the OP is called a "buy limit" and you can place a buy order at the price you predict bitcoin will reach. But the problem here is that OP doesn't want to use centralized exchanges and unfortunately only centralized exchanges provide this feature. As far as I know, no decentralized exchange offers this feature.

But what I also wonder is using Bot means we need to have USDT in our wallet and OP said he hates centralization but meanwhile USDT is also a centralized altcoin. So what the OP asked for is very difficult to meet.

If he don't want to use centralized exchanges then it's hard for him to do it so. He has to spend for some bots out there since I don't use them as it's with extra pay, it's better to do that buy limit.

Bitcoin have broad path and having good entries will definitely take time, we should thoroughly require good positioning in the market. Our initial capital will bring losses and profits, it's all originates from the partial strategies generated. We have bots that are capable and positioned to trigger our orders without having any significant differences. You're absolutely right, exchanges and brokers have buying and selling orders, it's one of the good features and have enabled most traders to have solid ground in the market.

But it's said that he don't want to use it so either use it or not and find other methods that he's able to buy while not being active with his trading accounts.

Well, he should choose what might for him as we're just all suggesting the possible methods.

[Cryptomultiplier]

Call me an idiot, I don't care but I believe that this question deserves some answer.

I have been hearing about the importance of buying Bitcoin at the dip and something good strikes my heart.

What if I can't be available when Bitcoin is dumping? What if I am away because in reality I am always busy, you can tell how epileptic my activeness on this forum have become.

Is there anyway to buy Bitcoin dips when I am not available? So this come to my mind straight away.

A bitcoin buy the dip bot, that can trigger a certain price when I am away, is this possible?

Don't tell me to use a centralized exchange, been not active in crypto space means that a centralized exchange can collapse before you come back, I want something in my control.

If you have a better option, don't hesitate to share.

Am sharing a link so you can read up on how Carbon DEX works and it would be to your own discretion to know the bots assistance functions according to the details you have in mind.

Here's the link:
https://cointelegraph.com/news/automated-strategies-in-defi-the-future-of-trading-bots-detailed

Using bots can be good when they have already been set to execute certain orders at the time due.
Still, one can't be afraid to Invest in cryptocurrency because they fear the exchange might crash or steal the funds. While that is noted, going away for a long time might work best if we have a trusted broker who we may have set up this plan with, so all I do is send the funds and he does the rest during the dip market season.

[Ndabagi01]

I am just imagining how busy you are that you won’t have time to come online and check for the price of bitcoin whether it’s on dip at that time. I would have said you don’t really need the bitcoin or want to buy it, because if you prioritise it, you will create time for yourself to always check for the price from time to time in order to get to buy at a dip. A dip sometimes takes up to a week or more then, I just can’t fathom how you’re going to lose this opportunity to buy at dip when it comes around.

About bots or something to trigger the buy when it comes down to the price you want, I haven’t heard of that or think there’s anything like that existing currently. Although, you can always set up notifications on popular crypto websites to alert you when the price reaches a particular level you want to buy or can even set that up on centralised exchanges that you’ll be buying from.

[Odusko]

If you are someone who is always away from the Internet and you want to buy Bitcoin at such a low price then what you should do is to have a pre order opened in the price you want Bitcoin to reach and your order get automatically filled, this way even if you are not around, the exchange auto execute the order same as stop lose features also.

[oktana]

Firstly, you should know that you must wait till Bitcoin is dipping before you buy it. You can buy it at anytime. However, if you don’t want to use centralized exchanges, then what you can do is to turn on price alerts so when the price gets to where you wish, you get notified and you make the purchase. Other than this, you may then want to build your own software.

[avp2306]

Call me an idiot, I don't care but I believe that this question deserves some answer.

I have been hearing about the importance of buying Bitcoin at the dip and something good strikes my heart.

What if I can't be available when Bitcoin is dumping? What if I am away because in reality I am always busy, you can tell how epileptic my activeness on this forum have become.

Is there anyway to buy Bitcoin dips when I am not available? So this come to my mind straight away.

A bitcoin buy the dip bot, that can trigger a certain price when I am away, is this possible?

Don't tell me to use a centralized exchange, been not active in crypto space means that a centralized exchange can collapse before you come back, I want something in my control.

If you have a better option, don't hesitate to share.

Nope your not an idiot for that your concern is valid since you want to know something especially you seek for dip to accumulate. But if you are away maybe you should not think about other things like buying bitcoin since you might just stress for useless thing with that. Just accumulate when you are available or you can watch how the market goes since this is much advisable for you to do.

But if your intention is to hold then maybe you don't need to wait for the dip. Just accumulate when you think you can afford to do that and comeback next time to accumulate when you are again ready to grab some new balance to add some volume on your holdings.

[bluebit25]

One of the potential risks of using bots is leaving your funds on centralized exchanges. While automated buying is tempting, it is extremely dangerous to your independence as a self-taught investor. You should also avoid using price alerts from platforms like coingecko or coinmarketcap which are not very reliable or effective, especially if you do not actively monitor them.

If you need some advice then you should make a regular investment plan, such as once every week or two. Using DCA as an investment strategy allows you to accumulate Bitcoin steadily over time, rather than trying to perfectly time market fluctuations. It is a much safer and more reliable option than relying solely on predictions.