Bitcoin Sell Off - but do not fear - Forex Trading For Profit

Forex Trading For Profit

Bitcoin Sell Off – but do not fear

Bitcoin
5/5 (7)

Share on...

Bitcoin sell off leaves traders and investors concerned

Just few hours after bitcoin almost reached a mind blowing $20,000 USD at the start of the week,  the top of the blockchain crypto currency started to sell off with a massive plummet today.

This price action has been right across all the major cyrpto currencies bar Ripple which has been bought up wildly amongst the Asian countries. Reports are, that the buying of Ripple has been stopped by some brokers due to the high traffic and sent their websites into meltdown.

In the last 24 hrs Bitcoin is down 20% Euthereum down 22% Bcash down 26% and litecoin down 25%. Bitcoin cash had a massive pump and dump over the past few days largely due to Coinbase adding Bcash to the platform.  At this time of writing Bitcoin has fallen down to $12,000 USD and had a slight bounce up to around $13,000 Could this be the bottom?

 “After every sell off BitCoin triples in price”

Some traders are going frantic thinking this is the end of the Crypto currencies as we know it but looking back at price action we can clearly see this is the type of price action crypto currencies possess.

The charts below will show the past 4 rise and falls in Bitcoin.

After each substantial rise in bit coin it was sold of to 50% to 61.8% Fibonacci re-tracement.

Bitcoin

Bitcoin

Bitcoin

Bitcoin

As the charts show each time price peaked it sold off to the Fibonacci re-tracement between 50 to 61.8% level, and after it bottomed almost tripled in price each time. If this trend continues I have no reason to doubt the next peak should be at (($60,000) EDIT: $30,000) with a time frame of around March- April 2018.

 

coinspot

coinbase

cryptopia

BX.in.th Bitcoin Exchange Thailand

 

 

forex trading

Share on...

Please rate this

Leave a Comment

Be the First to Comment!

Notify of
avatar
Photo and Image Files
 
 
 
Audio and Video Files
 
 
 
Other File Types
 
 
 
wpDiscuz

Forex Trading For Profit


Forex TFP

A journey of a retail trader. How to trade on the foreign exchange market and make it a lifstyle.

Comodo SSL
    Connect
  • Facebook logo
  • Twitter logo
  • YouTube logo
  • Linked in logo

We have been voted in the top 100 Forex Sites

Top-100-Badge

Forex Trading

Forex Trading For Profit, a journey of a retail trader. This website has been set up for retail traders to give answers to those seeking the same information I was when I first started trading. Forex Trading For profit endeavours to bring the most informative approch to trading forex, and shows anyone can become a successful trader no matter what your background, with some dedication, study and determination. Trading CFD's and in the foreign exchange market is a high risk investment so please read the disclaimer.


DISCLAIMER: Any advice or information that has been presented on this website and related accounts on social media forums is only general advice and is not intended for you to invest your money solely based on its contents. By viewing the content on this site you agree that it’s for educational purposes only and will not hold the Author responsible for any loss incurred by the content herein and associated online accounts or paraphernalia. Forex Trading for profit nor do the Author('s) operate under an AFSL and any product or advice sold on this site is only bought or taken as an educational product or guide from my collective experience’s and knowledge trading forex. If you invest any money into forex you do solely at your own risk.

HIGH RISK WARNING: Trading CFD’s such as forex and/or on high leverage is a high risk investment and you must make yourself aware of the potential loses you may incur. Forex trading is not suitable for all investors and you have the potential to lose all of your deposited funds or more. Any opinions or analysis of the financial markets on this site is ONLY commentary in nature and does not solicitate investment advice. Please do not invest any money based on the advice given on this site or associated accounts nor invest money that you cannot afford to lose. Past performance of any trading system or method is not indicative of future results.


Privacy policy

What information do we collect?

We collect information from you when you fill out the form. When ordering or registering on our site, as appropriate, you may be asked to enter your: name, e-mail address or phone number. You may, however, visit our site anonymously.

What do we use your information for?
Any of the information we collect from you may be used in one of the following ways:

For contact purposes and conversing requirements between staff and client.

How do we protect your information?
We implement a variety of security measures to maintain the safety of your personal information when you enter, submit, or access your personal information.

Do we use cookies?
We do not use cookies.

Do we disclose any information to outside parties?
We do not sell, trade, or otherwise transfer to outside parties your personally identifiable or business information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with the law, enforce our site policies, or protect ours or others rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses.

Third party links
Occasionally, at our discretion, we may include or offer third party products or services on our website. These third party sites have separate and independent privacy policies. We therefore have no responsibility or liability for the content and activities of these linked sites. Nonetheless, we seek to protect the integrity of our site and welcome any feedback about these sites.

Childrens Online Privacy Protection Act Compliance
We are in compliance with the requirements of COPPA (Childrens Online Privacy Protection Act), we do not collect any information from anyone under 13 years of age. Our website, products and services are all directed to people who are at least 13 years old or older.

Your Consent
By using our site, you consent to our web site privacy policy.

Changes to our Privacy Policy
If we decide to change our privacy policy, we will post those changes on this page.

Contacting Us
If there are any questions regarding this privacy policy you may contact us using the information below.

Paul@forextradingforprofit.com.au

Back to top

© 2018 Forex Trading For Profit. · Disclaimer · Privacy policy