HOW TO BUY THE DIP- What is considered the bottom for a coin?
- How to identify the bottom?
- What technical analysis tools to use?
- What are the fundamental prerequisites for the bottom?
What is the bottom for a crypto asset?
The bottom is the lowest price level of a crypto asset, after which the price of this asset is expected to rise.
The bottom is not always an absolute measure for the entire history of the existence of an asset, but can be calculated for a certain period: a year, a quarter or a month.
How to identify the bottom
Each trader has his own set of tools to determine when to buy an asset.
Here are some of the most clearest signs to each of us:
There is a protracted flat with the upper border breakdowns
The movement occurs in a strong support zone and is accompanied by high volumes
The order book contains big bid checks
Good news on the market or the project
The price is lower than the sale price (ICO, IEO, IDO etc.)
The bottom we search for is not a new all-time bottom
Protracted flat with the upper border breakout
If you observe that for a long time: 2 weeks, 1 month, - the price is at the same level, while occasionally trying to “break out” up, that is, the resistance line is broken, then this is in 90% of cases - the impulse to the rapid growth of prices.
However, if the breakout is more often than just the support level, then get ready to test a new bottom.
Strong support zone and high side volumes
Determine that there is a strong support zone at this level, that is, it met more than 3 times on the chart for the period under study and is supported by good horizontal volumes (Volume indicator).
Display the VPVR (Volume Profile Visible Range) indicator on the same period on the screen and evaluate whether the maximum vertical volumes for the selected period are at this level.
Big average checks
If you observe volumes above average with a “small” candle body, then there are purchases at the same price for a large amount.
This may indicate "big checks" or high market density.
To confirm the existence of “big checks”, you can refer to the order book and make sure that there are real bid orders for large amounts.
Fundamental prerequisites
As an extra springboard from the bottom, news resources can:
Issue positive analytics from experts on this asset
Record the activity of major players - funds
Report new technologies that have been released or are about to be released by the project
Share the conditions for large investments in the project by large funds, etc.
Price analysis for IDO, ICO and Private Sale
If the project token or coin appeared on the market following one of the popular types of crowdfunding: ICO, IEO or IDO, the most popular one, then you need to compare the Public Sale price with the current price.
If the current price is below the Public Sale price of the IDO, then you can put this in another checkbox on your checklist as a sign of a potential bottom.
If the IDO price was lower, then this is not a bottom, there are still a large number of investors on the market who bought the coin at a lower price, which means they can sell it cheaper.
Our bottom is not a new all-time bottom
As we noted earlier, a support line is formed at the level of the potential bottom.
If the price has never dropped so low in the history of the asset, then we cannot build a support zone, which means that the price can go even lower and find many new bottoms.
Dip
MAJOR DROP JANUARY 2023 Crypto MARKET CAP 400 BILLIONHello, the Crypto Market cap is due to shed 50% or more in the beginning part of 2023 with a quick recovery after Q1 into Q2. At this moment the macros agree that we have one last leg down until the main BEAR MARKET dip which I estimate will be in January 2023. If you're longing here, you'll be in profit summer 2023 but if you're waiting to long then its good to wait. Every price from this post will cut in over 50% all cryptos within the month. This will align with the attached BITCOIN 2023 DIP CHART.
TARGET MARKET CAP BUY IN AT 350 BILLION - 400 BILLION
ENJOY and good luck!
SPY Weekly 01/13/2023 Testing TrendOn this Weeklty SPY ETF chart (SP500 Proxy), we see the upper trendline on the bear trend (yes i made it green sorry) is being tested and spiking it again. This has repeatedly resulted in a rejection. CPI came in sorta inline which gave a little boost this week, but bank earnings disappointed when you look in the line items of the reports. This is an inflection point for markets. PE dont support these levels, so I am in the bear camp and do expect to see low 3200-3300 SPX by middle to end of 2023.
I have to add that I do find the fact this last rally started before retracing to lower trend, and now looking like a cup (maybe building a C&H?), we need to watch that as well.
Some TA and Fundamentals to keep in mind for DIP buyers Hello all.
Today we'll be looking at some of the things i am concerned about trading the current bitcoin price action.
I have written most of my thoughts in the charts.
Some other things you should keep in mind are -
Bitcoin dominance has acted very suspicious since the dump to 20k its not giving me confidence.
Ether dominance has gone up significantly and has gained significant market share. The flippening could happen - so thats a thing y'all should keep in mind.
Short term price action on bitcoin is absolutely brutal - There are no easy levels to trade here other than 18k and 24k.
It's a big range choppy price action , and i think macro is playing bit of a role in the current btc dump.
Over all if you are bitcoin believer know how to manage your risk - We all know how brutal bitcoin dumps can be.
All the best guys - my trade idea on how to DCA for this is written in chart.
The bitcoin halving is 625 days away! That's a long time and a lot of stuff can happen during this time!
btc next move. trend line support and breakout.BTC is moving with a nice momentum candle for days and by far we have an uptrend as you see in the chart. the trend line supports the uptrend and it also follows the rules of the trend line.
next, will it break?
before breaking you can see the red box, it is an order block (supply zone). so we will touch the red box and then push it downward. the red box drawn is not perfect because it is small and was hard to include in the picture so I made it a little bit bigger. and the order block is in a higher time frame. so we will touch the supply zone and push it down.
when push down we will have enough force to break the trend line and we will take another long in 1 h order block from down.
This bottom is due to an obvious multiyear support...It is tricky to say if it is "THE" bottom.
And it is easy to imagine lower bottom, which would better suit to the actual bleak economy forecasts.
Btw I am not gonna take any decision based on these soles charts.
I need much more data...
It is an update of my last post:
INFO EDGE(NAUKRI.COM), PATH!! BREAKOUT!!i am waiting to trade on a good breakout, on the 1st week of November.
Naukri, is a good stock.
PLEASE do have a good look at the colours.
1. the two dark black lines are the actual target what i am aiming for.
2. the dark purple line is the resistance which is tested multiple times.
3. minor blue lines are the levels, where one should look at buying for dips, or buying for averaging out(if stock is in short run).
MOVING AVERAGES ARE JUST FOR REFERENCES, FOR A SMALL LOOK AT IT! ITS NOT SAYING MUCH
FIBONNACI RETRACEMENT LEVEL OF 0.618, GREAT SUPPORT TO BUY.
HDFC, FIBONNACI RETRACEMENT!!HDFC is currently, very undervalued. no doubt to buy this stock in every dips.
FIBONACCI, in its 0.618 area, great time to buy, on Friday, it has given about 2.25% rise(so now its great time to buy).
same uploaded for HDFC BANK also(check the link section).
Bitcoin Volume TransactionThis laterely the biggest #volume transacted in the the history of #bitcoin obviously they can't hide their activity with volume ( There is an #iceberg order ) Sitting on the #ASK absorbing all the buyers activities it is early to say we reached the #DIP , Laddies and gentelman we have a #Compositeman situation here
BTC/USDT (1D) - Struggling to get higher, Rising wedge formed ?Hi Traders and Crypto Investors...
As You can see, BTC and entire Stock market is moving UP for recent 4-5 weeks.
Is it Impulsive or Corrective move ?
In my opinion its Correction or partial Short-take profit and re-entry of Shorts, after 50% bounce from Lows. (Around 17k at big exchanges, some small exchanges BTC touched almost 14K.)
So according to Technical analysis of smaller Timeframe like 2H-4H we are forming Rising wedge with ending diagonal in wave c.
More detailed count is attached.
Why do I think BTC will continue to Fall ?
= Coming recession in China / US / Europe. (Check fresh data from CHina = Economy slowing, Housing market BIG problems, central bank decreased interest rate by 0,1% today...)
= Dollar Index is forming Bull Flag. (Chart Attached). = Risk OFF mode for everything.
Let me know what is your opinion, or post your Wave count.
Have a green day ;)
PYPL: Can Hedgie change fortunes?PayPal
Short Term - We look to Buy at 78.86 (stop at 71.88)
Activist hedge fund Elliot Management reported to have increased stake. Price jumped 6% in premarket. Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. There is scope for mild selling at the open but losses should be limited. We look to buy dips. Further upside is expected.
Our profit targets will be 99.79 and 104.00
Resistance: 100.00 / 123.00 / 154.00
Support: 75.00 / 60.00 / 40.00
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BTC going down soonBitcoin is currently at a critical point. Technically and fundamentally BTC is bearish and we may soon see the levels of 15K, 12K or 10K. In extreme scenarios it can go even towards 7.5K levels. There is no long opportunity yet. We may see some fakeouts but priority remains bearish for the moment. upper mentioned levels are critical and closely be monitored.
Bearish flag pattern and bearish scenario at macro level is what makes BTC to fall down. stay tuned for followup analysis. Thank you
ETH taking dip soonAs BTC is making fakeouts and there has been profit taking by the investors. Same scenario will be followed for the ETH. Any pump might lead towards the dump as in bearish cycle, each and every pump is for short term profit taking and then dumping the price. ETH has also been making a classical bearish flag pattern plus the fundamentals are also aligned.
Check the critical levels mentioned in the chart.
After a fake breakout, check for the test of 50MA and monitor on the 4h time frame for short entries.
Short entry from 1350 to 1400
SL 1540
TP 1100 to 1020
I will also post the followup posts. Thanks
It's not looking good for the haters in the comments.This chart hasn't been touched in months and i'm pretty sure my bottom call is spot. Hater's think otherwise.
History tends to repeat itself and I don't think things are much different today than they were in the previous cycles. We continue to win.
Macro over everything.
Descending Triangle Defense Set Up!EUR has been shorting from Top of the week.
With a early morning SPIKE to the upside Euro was very volatile.
Price has finally settled back into the trend and we should hit our TA.
The DXY is set up to soar today unless we get NEWS.
We know when the DXY SOARS the EURO DIPS!
As always never over leverage.
Trust your trade set up.
Have fun!
Bitcoin Cash Adoption Continues to Swell WorldwideBitcoin cash supporters are known for spreading adoption over the years and 2022 is no different. This year, the peer-to-peer cryptocurrency bitcoin cash has seen significant adoption throughout the islands of the Caribbean, alongside places like Dubai, and Mumbai.
Bitcoin cash is also accepted at Burger King St. Kitts and the island’s Panda Supermarket accepts BCH. In St. Kitts, the crypto asset is further accepted at Sun Island Clothes, Karma Asian Cuisine, Econo Retail Shop, and Oracle Martial Arts Academy.
Merchants accepting bitcoin cash are prominent in a number of other regions worldwide including Anguilla, Antigua, Japan, Venezuela, Slovenia, Australia, Philippines, Vietnam, Ghana, Zimbabwe, Argentina, and more. Additionally, a good portion of the companies that take BCH for payments are accepting the digital currency directly, rather than using a third-party or payment processor.