I just watched a couple Youtube videos from Coin Mastery.
This guy doesn't claim to be the most expert trader with years and years of experience...but that's exactly why I like him. He's smart, to the point, and is admittedly "obsessed" with cryptos. He does his research, and is always willing to learn more.
Want to know what his hot tip is for when to buy? It's astoundingly simple, but makes lots of sense....ok, drumroll please....
Buy when you see 4 red bars.
That's it! Told you it was simple๐
Here is a perfect example below I found from Civic's recent chart:
You'll notice the price jumped very soon after 4 red sell bars appeared.
The more red bars you see, the more likely the asset is oversold. From analyzing a few charts myself, I can see this doesn't work perfectly 100% of the time. Occasionally a crypto will jump after 2 or 3 red bars, or even sometimes after just 1 if the crypto is on a crazy uptrend (think NEO a couple days ago).
Still, this is an excellent rule of thumb and if there is a crypto you've been wanting to buy into but haven't known exactly when, I'd highly recommend this strategy. In the video, Coin Mastery explains you can use any time frame you want. He typically uses 30 minute candles, and those will give you some nice, short term gains. That said, you can also use hour or day candles. The longer the time period, the longer you'll have to wait for the crypto to bounce back, but of course that means proportionally greater gains in the long term as well.
For more details on this strategy, check out the video below, this is where I saw this strategy featured:
@jobsande What a synchronicity! Just last night I was having a discussion about the dilemma regarding when to buy (and to make things even more spooky, the coin we were discussing was precisely Civic! Whaaaat). So this info comes at the perfect time, thanks!
ETA: By the way, I just recalled that you replied with very nice feedback to one of my comments in an article from Kyriacos a while ago. I think that it was one of those moments when I saw it on the go and though "I'll reply later"and then I got distracted and forgot... but glad I found your profile again, cheers!
hey no worries, glad you found me again haha. I remember you as well, wasn't sure if I was following you but looks like I am haha
That is really funny coincidence, without getting too woowoo here I do believe in things like synchronicity, like when you're about to call someone and then at that moment they call you. Stuff like that, who knows? :P
So did you end up buying? I sold my Civic at the high since it was already up like 100% from where I bought it, can never hurt to take a profit! I put in a re-buy at a lower level so if it hits that great I'll be back in, if not I still got my short term win :)