Everyone says “buy the dip” but no-one teaches you how to do it effectively.
Everyone seems to make Tonnes of money “buying the dip” apart from you.
Let’s change that. 👇
Here is your master guide to “buying the dip”:
1: Dips
No, not ketchup.
Dips in price my friend.
There’re different kinds of dips but in a bull, so you’ll either:
- Lose support getting a deeper dip
- Consolidate during an uptrend “dip.”
You can’t be picky and expect major pull backs just because you missed out lower.
2: What to do during a “dip”?
This is where you can make use of an excellent tool like CoinGecko to scan.
You’re looking for “relative strength” in a cryptocurrency compared to its peers.
Strong coin is a good coin.
Let me teach you how to find relative strength.
3: Utilise CoinGecko
- GO TO COINGECKO (@coingecko).
Okay, the caps were a bit aggressive and over the top, but please head over!
- Click top gainers & losers
That’s how we’re going to simply find the coins with relative strength.
4: Change time frames
During a “dip”, find the strength of a coin.
- Click 24h, note smallest losers, top gainers
Any tokens that stayed green during a dump in are strong.
- Click 7d, note top gainers
Check strength here over last week.
- Check 30d, note top gainers
etc.
5: Change risk tolerance
Change the market cap of the coins you’re reviewing depending on risk tolerance.
More coins included in search = higher risk tolerance.
- Click top 100, 300, 1000, all coins
Make sure they have decent liquidity!
6: Note reoccurring strong coins
If you see a token pop up strong on a few time frames then it’s one you must include on your watchlist.
All gainers and winners here need to be in your watchlist.
If you remain bullish look for entries.
Now relax, you’re ready to buy the dip!
Summary:
- Find “relative strength”
- Add to watchlist
- Buy on your “dip of choice”
- Make money
Oh wait… one more thing 👇
Follow me for more🦅
