Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
adultcrypto
on 24/03/2024, 08:53:48 UTC
For me, buying every dip doesn't feel like seizing an opportunity; it feels more like a setback. I respect others' views on Bitcoin's price, but as a short-term trader, it's not my preferred strategy.
You are a short term trader yet you visited a thread titled "Buy the DIP, and HODL", if I may ask, what could you possibly be doing here? You have freedom to visit any thread though but joining the discussion on the basis that you want to make some adjustment to your approach in bitcoin by adopting this method, would have been just fine. But joining the discussion when you are not interested in HODLing and you probably just want to remain a short term trader, I think it is out of place. You contribution to the discussion will not add much value to anyone following the discussion because you stand for what this thread is trying to discourage. I think there are boards dedicated for trading where your comment can be better appreciated.

Instead, I look for specific conditions to buy during dips, especially in bounce play setups. These involve buying low and selling quickly after a price rebound, which suits my trading style better. I steer clear of trades against the trend because they're less likely to succeed.
Before people take the wrong advise from you and start looking for complex strategy inside buying the dip, lets set the record straight. Buying the dup is simple and does not require too much refining because the essence of it is to buy at discounted price and hold for long time. When bitcoin reduced in price from about $73k to the lower $60k region, that is a dip to buy. Anywhere around the $60k area is a good entry point. Buying the dips works and it is not right to discourage people from doing what works and ask them to join trading that have higher risk.