Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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The Headline is a bit misleading, but the point I'm making here is super important. I do this to help you, because I witness all the time how Whales and Smart Money keep stealing your Money. And if you are not aware of these things you are the small fish in the market, which keep getting eaten by the big fish.
This is a Follow Up on in series: Understand How the Whales Thinks, and How they make Money of You!
If you have read yesterdays post, you know how we are taught to place a position on side of the support or resistance and the Stop Loss on the respectively opposite side of that.
It's fair to assume that 8,000 USD is a Key Level, and that 7,900-8,100 USD is an important zone, where people usually will take a lot of positions. Either they choose to go LONG or SHORT. Our Volume Profile is confirming that.
Kill, Kill, Kill, Kill.... - How they bait you!
As you can see, we have in only 6 days going back and forward 8,000 USD at least 35 times, which have Stopped out and liquidated people for millions of dollars.
Some of it is obviously normal evolved price movement, from what we can expect, if we look at our TA princicples. But a lot of it is also designed to bait you into go long or short, and then kill you after.
My Advice for You
Its always very hard to trade near these key levels. So I will suggest that you DONT leverage trade if you arent super experienced. Right now the Market Sentiment and Bitcoin is super Bullish so you can either go long with very little leverage, or just accumulating Bitcoins or take a look at the altcoin, which have fared better than Bitcoin latest.
One thing is certain. The future is bright, and I will do what I can to help you!
D4
Please give a LIKE!
Comment
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We should drop now. Head and Shoulder, and Descending wedge. But as I said it is a very toxic area with Stop Hunting all the time.
Comment
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Point Proven.. Number 36!!
Comment
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Crucial Moment for Bitcoin when we hit number 37 time. We are inside a neutral triangle, and BTC HAS to choose a direction soon short term!
The whales can only steal your money if you sell. So if they did it 35 times, it's you being so dumb to have sold 35 times at loss to them.
If the future is really bright, just wait until it climbes above your purchase price. It does not really matter if you wait 3 days, 3 months or 3 years. Just be patient and don't sell at loss.
Warren Buffet's Rule No.1: Never lose money. Rule No.2: Do not forget Rule No.1!
Very well written. I stick to the idea that if you don't know what you're doing, its better to stay out for a while
David_Warren_Ellison
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No one should be using more than 2x in this market. With 2x, you can survive these if your reasoning was sound, and you'll go back into profit sooner than you think.
kardia
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Folks, be careful what Alts you invest in! Some exchanges are doing shady things and may not be around much longer. By now you should know the most recent disaster which took place with Cryptopia. People are also complaining about HitBtc now. Be careful! Your Altcoins won't be worth anything if they are only listed on bad exchanges which eventually close their doors on you. Only use exchanges with a good reputation.
RodrigoGarreton
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UnknownUnicorn2825836
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@RodrigoGarreton, Hello Rodrigo, I make crypto metrics, and I am trying to get traders' opinions on my latest metrics for BTC, BCH, and ETH. I have developed a method for understanding the Fundamental Price Floor for crypto. It will basically allow you to measure and mitigate risk in your crypto portfolio. Here is a link to my site:
If the future is really bright, just wait until it climbes above your purchase price. It does not really matter if you wait 3 days, 3 months or 3 years. Just be patient and don't sell at loss.
Warren Buffet's Rule No.1: Never lose money. Rule No.2: Do not forget Rule No.1!