Apologies if this comes up a lot (as I'm sure it does) but when / how often do you feel is best to buy the dip?
I know its not an exact science but I've heard a few different preferences on this such as:
- When the price decreases x% on the weekly/monthly candle
- When the price moves below the weekly/monthly negative average
- Only a couple of times a year after a major correction
- Just look at the chart and go on your experience / gut
I think that first of all it's important to make sure that you believe the currency can recover from the dip. Many fall and never come back up (take Ripple as an example), so buying the dip wouldn't be a good idea. So what's important for me is that the coin recovered before. For instance, Bitcoin recovered from $6k to around $10k multiple times, so whenever it goes down to $6k next time, it might be a good opportunity to invest. I have to admit that I'm like buwaytress here in a sense that I don't buy BTC but earn it and then consider whether to sell or hodl.