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RE: Trading Bitcoin and Bitcoin Cash

in #bitcoin7 years ago

many things on classic fx-trading don't apply to crypto since its completely not based on to-the-second-world economy ... the price of the dollar versus depends on anything from the kid at school buying a pizza over noon break to the apple boss in japan buying Yen to do business there, none of that applies to crypto markets, all your classic things , pivot points and stuff (something i dont believe in either since bascially what they do is take all numerical data and go for the common denominator, regardless of how many "political periods" are in that timeframe, what disasters happened, if anyhone invented the cure for cancer, it all just gets flattened to the-most-likely-over-time ... that makes it a very dumb statistic) ... fibonacci levels always seem to do great since they have this uncanny thing like its being built into the fabric of the universe , right . If you were to believe in that i think for crypto it would only work for small timeframes and no go on a minor breakout. Other stuff ? martingale / grid theory ? if you look at bitcoin that would probably be one of the worst ... its a new science man and it hasnt settled into anything. Even buy on the dip is dangerous (especially with BTC)
but
good luck with that :)

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