Sideways trading within a relatively narrow range

[shinratensei_]

What do you mean by "next major trend is soon to start"? This statement can be interpreted as referring to both an upward and a downward trend.

As long as the price remains above $83,000 or below $96,000, it will likely remain stable within that price range.

Hehe yup, I find it funny to see people giving this kind of 'doesn't really mean anything' kinda analysis. And what is a major trend for them? 10%? 20%? Cause there has not been for a long time a big 20+ % move of a sudden for a long time now.

83-96 is about 15+% and that is considered super normal for BTC honestly.

The next major trend that they meant could be a resistance break out that could be a sign for another leg up and rally. The sideways around 15% range is definitely like a monday stroll in crypto.
But when the price suddenly break out, this means something might be going on soon e.g major trend reversal.

That's what I understand from most of people here. I personally follow this style of trading too because identifying break out is easy.

[jaberwock]

Recent price actions of Bitcoin are really tough for traders, but scalpers may be making a lot of money recently.
So for me, if these kinds of price actions are not for you, like it's not your thing as we're really into sideways and a lot of wicks and could just be stop loss hunting, I'd rather not trade.

Waiting instead of opening trades that are not sure is better. There are still lot of good opportunity waiting ahead.

As far as what I learned from few known traders, traders love sideways market. Every trading strategy deals with support and resistance and when traders seeing that market is repeatedly testing support and resistance levels, they may start playing by easily identifying the sideways market. In stock market, most high value stocks are range bounded for all the times and smart traders who identify this, makes easy money. So, sideways market cannot be a tough one for crypto traders for sure.

I suggest to trade in any kind of market only when you are fully equipped. It means, market can be sideways or highly volatile, if you are good in TA, you can go for. Opportunities are everywhere but we need knowledge to grab them, this is very much true with respect to crypto trading.

[gunhell16]

In this sideways, I prefer to wait and do nothing. Just wait and monitor the market. I don't want to take the risks of analyzing the market and entering the market. If you want to trade, you need to analyze, that is the key. But if you don't want to bother the price fluctuation, you can buy at dips and hodl. That is the thing you can do to accumulate it at various low prices. Investors still accumulate more without thinking about the price. Fluctuations will not disrupt you because you only focus on accumulating more Bitcoin.

But in situations like these, won't it be better to hold investing more money? We might get better opportunities in a couple of weeks if bitcoins continue with the downfall and that will be the moment to start investing again. Yeah, investing a minimum percentage of our total allocated budget can be a good decision but I personally would not invest more than 3% of my total budget and will continue waiting until I see better price range. I will keep monitoring the market actively though because at this point, bitcoins can show sudden movements which I do not want to miss.

Maybe DCA can be a good strategy for here who wants to start their investment journey. For investors, they do have multiple options but when it comes to traders, we have quite a few options to make profits in these kind of markets. The volatility is almost negligible which can also reduce the profits while keeping risk factor the same.

In situations like this, it really isn’t advisable to engage in trading activities for daily trades. I agree that DCA is truly one of the best methods in times like these. So as much as possible, when you’re accumulating, just keep buying steadily.

We’ve been in a sideways market for several weeks now, and in scenarios like this, what we experience is a repeated roller-coaster ride. Up to now, this is still what we’re going through in the crypto market.

[tottong]

‎
‎* What does the consolidation or sideways trading period within this current narrow margin, mean for you as a trader or investor? What is the best course of action during this narrow range period?

I prefer investing to trading in volatile price conditions like this because it is difficult to predict prices when we approach trading in such conditions, especially if we are involved in futures trading.
For traders, price action in this situation is a bit more difficult to determine direction because the price can reverse quickly and result in liquidation. Ideally, scalping is more suitable for someone involved in trading because we can exit more quickly without having to worry about prolonged price movements. This is just my personal opinion.

If you are unable to see a clearer direction, then waiting is much better or taking an investment approach by entering the market at a price that is much more in line with your desired position so that the risk is much smaller.