Bitcoin trading can be very profitable but it can also be very challenging especially when you consider that most people in this market do not have prior trading or investing experience. Then they step into this market where the big guys can use every dirty trick in the book without any fear of prosecution. Throughout the years, these market makers and whales have perfected their ways to prey on retail traders. Today, I'm going to show you how to combat that. So, let's get down to it.
Most people have a textbook approach to trading. So, when they see a breakout to the upside, they quickly assume that Bitcoin is about to turn bullish. That is not the case most of the time. Why is that you ask? Well, previously we used to trade against Bitcoin geeks and early adopters but now this is a whole other ball game. You are playing against people who are using every trick that banks and financial institutions use to prey on retail traders. If that weren't enough, they can push it to the limit because there is no law stopping them from doing that in this market.
It is therefore very important to understand the intent behind every move. It is no longer enough to just look at simple breakouts and a break above or below a support or resistance. The best part is that most of this trading activity is fueled by algorithms and bots that very frequently repeat the same fractals over and over. So, there is a way to take advantage of it if you play your cards right.
Learning Never Stops.
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Follow me for more. Good luck! :')
Most people have a textbook approach to trading. So, when they see a breakout to the upside, they quickly assume that Bitcoin is about to turn bullish. That is not the case most of the time. Why is that you ask? Well, previously we used to trade against Bitcoin geeks and early adopters but now this is a whole other ball game. You are playing against people who are using every trick that banks and financial institutions use to prey on retail traders. If that weren't enough, they can push it to the limit because there is no law stopping them from doing that in this market.
It is therefore very important to understand the intent behind every move. It is no longer enough to just look at simple breakouts and a break above or below a support or resistance. The best part is that most of this trading activity is fueled by algorithms and bots that very frequently repeat the same fractals over and over. So, there is a way to take advantage of it if you play your cards right.
Learning Never Stops.
If you liked this analysis, please give it a thumbs up and share it with others. Comment below with your thoughts and suggestions.
Follow me for more. Good luck! :')