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(Mar 10, 2020 02:20 AM)Rinkyo Wrote:  You're talking about bitcoin like it is a creature with its own decisions, bitcoin is an asset which is being bought and sold in the market.
No, bitcoin did not crash because "9.2k is the monthly level we gained at first and then we lost it, making it bearish."

Bitcoin has fallen in price due to harsh liquidations on the stock market, you can further read my post with detailed explanation:
https://hackforums.net/showthread.php?tid=6055722
And the proof for my statements: https://imgur.com/gallery/2tEZ7VR

I am not bashing you, like really - congratulations man! you've done great job in your last post and actually did a nice hit, but don't think that you charts and TA will bring fortune and make you rich.
TA has 50/50 chance no matter what you do, current market has too many issues and relaying on TA in the current situation is very very risky.
Wishing you luck in your future trades man.

(Mar 10, 2020 02:38 AM)Froza Wrote:  does the corona virus scene in ,china, korea,italy affected the price drop?

(Mar 10, 2020 03:03 AM)Flash ⚡ Wrote:  BTC is an asset which is being sold/Bought in the market like other stocks yeah! this buying and selling creates price action and certain levels which analyst look to sell and buy and btc have been respecting these levels. Rejection means people sold. we lost the 9.2k monthly level cuz people sold and took profits at the higher levels which caused the price to dump.

BTC has fallen because people decided to liquidate their position in the crypto market cuz we keep losing the support or profit taking. it doesnt matter what they do. what matters is where the price is at.
When we lose the levels and stop gaining new ones people call it "BEARISH" Thats why i called it bearish.

Yeah stock market tanked hell doesnt mean it caused btc to dump. The guys in crypto decided to take profit on BTC thats why it did dump.
BTC retested 10.4 and dumped cuz it failed (REJECTION OF PRICE, AKA PEOPLE SELLING). Then we tested the lower ones and failed. This all been bearish.


This is also not a bash XD i am just telling you how it works for me. Well yeah TA is probability you keep a stoploss and manage your risk. thats how you trade.
Thanks man. Appreciate the comment

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Probably Yes. People sold their crypto for liquid money.

(Mar 10, 2020 03:18 AM)Rinkyo Wrote:  Read my thread mate.
Bitcoin is being traded not only on the Blockchain, but on the stock market as well, but as derivatives.
Some of these derivatives are backed by absolutely nothing, and some are backed up by fractional reserves, meaning that they are basically "creating" fake bitcoins.

These products are mostly used by stock market investors as a simple bitcoin investment / hedge.
When the stock market crashes, theres a sell off of almost everything, including these Bitcoin ETFs and Futures, when these are being sold in mass, it drives the price down.

The sell off was in the Bitcoin traded in the stock market, not the bitcoin in the blockchain market.

(Mar 10, 2020 03:28 AM)Flash ⚡ Wrote:  I read your thread. Okay the sell off might be on bitcoin traded in the stock market or wherever. You dont have to care about where btc dumps or pumps thats not what this thread is about. It is about the price movement.
You see my chart is from 28th feb not from yesterday or day before. you only figured out after it dumped but i figured it out it would dump long time ago. Thats the difference
Here is the T.V link
https://www.tradingview.com/x/4JvHaQF1//

(Mar 10, 2020 03:35 AM)Rinkyo Wrote:  The point in my comment is that if you base your investments on TA in the current market situation, if you're right that 1000% luck.

(Mar 10, 2020 03:43 AM)Flash ⚡ Wrote:  This is ten percent luck
Twenty percent skill
Fifteen percent concentrated power of will
Five percent pleasure
Fifty percent pain
And a hundred percent reason to remember the name


Probably 10001% Luck yeah.
i trade with a proper risk management and I only risk 1% or less of the total capital per trade depending on the Risk to reward ratio. So i dont get rekt losing a few trades.

Thanks for your comments.

(Mar 10, 2020 03:45 AM)Rinkyo Wrote:  Ahh man I remember this song from 10 years ago when I used to be 13 and did some parkour while listening to Fort Minor haha.
Good times.
GL with trading man. - at the end, its all about trial & _error_.

(Mar 10, 2020 06:09 AM)LayersOSImodel Wrote:  there is always a lil pump after a big dump because there are massive buyers as you and me two hours before the next daily candle stick.

The question is,

1 will it be a little pump due to massive buyers
2 will it be a big pump due to massive buyers and investors
3 or a temporary little pump as massive buyers and investors knows there is a 4-6% on bitcoin and 10% on alts to gain after several consecutive drops then they cash out (option 3 happens more often).