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    Thread: MartyFish's trading journal

    1. #1271
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      Quote Originally Posted by balut View Post
      I guess you're referring to $5000 bitcoin price because 50,000 is too much and I don't think that it will go up above $10,000 either. Maybe the bitcoin craze is over and the bitcoin price is showing its true value but as a trader we don't care about its final value because we can trade it both ways.
      I also think that same my friend! The craze of Bitcoin is over and traders are not much interested to invest money here. Its true that there are still some traders who want to buy it from a good point for long term and they are thinking that it will go up once again like we see at the end of last. But i think its really hard to cross $10,000 and if it happen then $15,000 will be very difficult.


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    4. #1272
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      Quote Originally Posted by Honey Bee View Post
      Crypto currency will ban in different countries that why it will be down in market i have a buy position on litecoin but it will still show a bearish movement until from last two month, and its currency price is 91.00 which is very bad for buyers for this coin BTC also goes down these days and it will show bullish soon in few months.
      You said that with more assurance, but you are right the btc will surely rise in the coming week, as it stand bitcoin is now at the support it usually reverse, so the question right now is that will the trader react to this by pushing it up, but if the price break past 5600$ surely we are looking at possible 4000$ highest low.


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      Quote Originally Posted by sonibark View Post
      You said that with more assurance, but you are right the btc will surely rise in the coming week, as it stand bitcoin is now at the support it usually reverse, so the question right now is that will the trader react to this by pushing it up, but if the price break past 5600$ surely we are looking at possible 4000$ highest low.
      Personally, I am beginning to feel that the price of the bitcoin would still head downward due to the fact that there is some kind of hack into the currency at will and so many people are beginning to feel that it is not safe and they would want to sell their own coin to others.
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades


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    8. #1274
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      Quote Originally Posted by sonibark View Post
      You said that with more assurance, but you are right the btc will surely rise in the coming week, as it stand bitcoin is now at the support it usually reverse, so the question right now is that will the trader react to this by pushing it up, but if the price break past 5600$ surely we are looking at possible 4000$ highest low.
      Certainly BitCoin had a great momentum in the start, but currently is lacking the fundamentals and the support from the retail. I mean it is only a speculative currency and there are almost zero wholesale markets that will give to it the support it needs to move further. Indeed if, it breaks $4.000 is a very attractive target.


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    10. #1275
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      Quote Originally Posted by FlyingShark View Post
      Certainly BitCoin had a great momentum in the start, but currently is lacking the fundamentals and the support from the retail. I mean it is only a speculative currency and there are almost zero wholesale markets that will give to it the support it needs to move further. Indeed if, it breaks $4.000 is a very attractive target.
      Bitcoin has slumped down greatly in the past few months and presently it's price has gone down back to its previous low since the beginning of this year, investors are withdrawing their money from it due to fear of the unknown and this is causing it to fall futher. A break below $6k then am afraid that we might be heading down to $3k.


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    12. #1276
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      Quote Originally Posted by theomilli View Post
      Bitcoin has slumped down greatly in the past few months and presently it's price has gone down back to its previous low since the beginning of this year, investors are withdrawing their money from it due to fear of the unknown and this is causing it to fall futher. A break below $6k then am afraid that we might be heading down to $3k.
      I believe that the bitcoin is still much on the bearish mode and would still have to get down below but the price is at the right place to place your sells trades if you want to join it, because it is in the momentum movement toward the 5.0000 if possible!

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      If you do not take control of your risks then you lose control of your trades


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    14. #1277
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      Quote Originally Posted by penuelophir View Post
      I believe that the bitcoin is still much on the bearish mode and would still have to get down below but the price is at the right place to place your sells trades if you want to join it, because it is in the momentum movement toward the 5.0000 if possible!

      Attachment 78897
      Selling bitcoin at this crucial stage is kind of risky this is because it hasn't been able to move down below $6k for some time now and it looks more like after the time it would spend in that $6k the next trend would be upward. I personally think it's a good time to buy with a stop loss at $5k.


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    16. #1278
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      Quote Originally Posted by Malik Basit View Post
      I also think that same my friend! The craze of Bitcoin is over and traders are not much interested to invest money here. Its true that there are still some traders who want to buy it from a good point for long term and they are thinking that it will go up once again like we see at the end of last. But i think its really hard to cross $10,000 and if it happen then $15,000 will be very difficult.
      Well from the experience that i have personally gained in Forex and in Bitcoin trading, A pair can become less Volatile and range across several Pips for a long time, It can even happen for 3 years before movements of high Volatility resume. For instance Gold has been Ranging between 1050 - 1300 for 4 years now and this happens after Gold soared high and touched 1900, It does not mean the end of Gold, Rather a period of limited Gold Volatility.


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    18. #1279
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      Quote Originally Posted by GhostMode View Post
      Well from the experience that i have personally gained in Forex and in Bitcoin trading, A pair can become less Volatile and range across several Pips for a long time, It can even happen for 3 years before movements of high Volatility resume. For instance Gold has been Ranging between 1050 - 1300 for 4 years now and this happens after Gold soared high and touched 1900, It does not mean the end of Gold, Rather a period of limited Gold Volatility.
      Comparing gold and bitcoin seems not right, I actually understand your perspective, but gold trading is definitely here to stay, it's been around for like ever, but bitcoin a cryptocurrencies which is facing many obligation, some countries don't want it to function, so all the news surrounding it can be discouraging. And this is why some trader don't feel safe about it


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    21. #1280
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      Comparing gold and bitcoin seems not right,
      I think they are the same in volatility and in the risks which is always associated with forex trading business, and it is very important to note that if you could trade anyone of them with good money management then you could do it on the other even making good progress too.
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades


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