Whenever something gets popular it is only a matter of time before you see scammers everywhere in that particular industry.
Bitcoin is no exception guys......
Please make sure you are looking out for these jokers that are trying to scam traders that are new to trading..
They are everywhere and if you think something sounds too good to be true, well, it is most likely too good to be true!
Since very few people know how bitcoin works, it is literally an endless opportunity for these scammers to come in take all of your money in the matter of seconds if you aren't protecting yourself.
What to look out for, who to trust?
Look out for Fake bitcoin wallets! These nasty malware downloads are out there and they are waiting to take your info! These are mostly through random links that you click or even fake bitcoin surveys!
Something else to look out for is flipping scams. Basically what these are is an offer to instantly exchange bitcoins for your money after paying some kind of fee to start. They usually promise to double or triple your investment overnight! Don't fall for it!
Lastly look out for pyramid schemes. These are hard to recognize but in the end they basically end up taking out your entire investment. Do a quick search as there are many articles about this if you want to learn more...
Conclusion
So what is the best way to protect yourself from these scammers? Well, like I said, if it is too good to be true then don't fall for it! Go with the most trusted bitcoins that have been around for a while now. Avoid click bait URLs that will promise ridiculous results. Research, research, research!!! Read up on what your are going to invest your hard earned cash in. Take time and go trough trusted material that has been published.
P.S. I gave you guys a trade idea here to take a look at. To me, it looks like there has been a nice triangle formation here on this lower H1 time frame. If you aren't looking to trade the Daily this may be helpful for you. Keep watching as when a market breaks a triangle it moves quick!
P.P.S. If you enjoyed this could you reply "thanks" in the comments!
Price did pull back to previous swing high and now is pausing. The what if scenario is happening now. If this happens (pullback to previous swing high) the 15m candles may go back into the previous swing highs range box. or they may bounce and continue the bullish continuation. Lets see what happens.
Tradingstrategyguides
⋅
Price did hit 1st TP at swing high and broke above it.
Tradingstrategyguides
⋅
Price climbed back up to 50 sma. First entry after one candle pullback could have been at 8010.00. Original entry was at 8110.00. First Take Profit would be the swing high.
Tradingstrategyguides
⋅
Why are traders buying bitcoin post.
This drop was fast and unexpected. I would wait awhile for the market to get its balance again. The original buy level was 8110.0 but if you have a trading plan that shows you an earlier entry let us know with a comment.
TradingStrategyGuides
Tradingstrategyguides
⋅
Price dropped to a 50% fib retracement.
soysanti
⋅
gracias :)
JoseL84ec
⋅
Thxs!!!!
Tradingstrategyguides
⋅
Pair has a current 15m divergence pattern that will develope the bearish pullback we are waiting for to continue the bullish trend.
Rick_69ro
⋅
Thanks man ! Good advices and clear chart. Keep up the good work !
Tradingstrategyguides
⋅
Here is an update to this post if you guys want to see what I am thinking here. Let me know if you have any questions!