thetradingparrot
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Buy the dip bot: Market is now bull. What to do with the open deal?
🕑 Added 2021-01-14 14:02:00 +0000 UTCFirst of all you need to figure out what is your short term forecast for BTC.
1) You think now we are going to enter a bullish trend. If your bot was activated before or during the dip your bot probably would have bought somer BTC with your USD. You have two options: retain it or sell it at market price.
Retain: You can retain it by finding the open deal and selecting "cancel".
Sell at market price: You can sell your BTC by selecting sell at market price from the deal.
If you chose either option your bot would be ready for opening a new deal manually when you decide to. Just make sure you still have enough USD to buy another dip.
2) You think we may still be in bear trend and further dips can still occur. You can keep the bot on until you think we have for sure resumed the bullish trend. You can also pick one of the options above (sell or retain) and open a new deal at a higher price, if you think the existing open deal is to far from the current price to buy more the dip.
Comments
Clarification: I’m not saying that we officially are now on a bullish trend or the opposite. This article focuses on what to do on either option.
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