Bitcoin should be shorted.

[Deleted member 10536]

I'm very bullish on bitcoin long term, but I absolutely refuse to believe after these past few weeks that it should go and resume the bullish trend without a pullback into 25-20k range first. It doesn't make sense to me now. (I do have bitcoin right now) This current past several days rally is going to fail before 40k and crash into 20s. Market is acting irrational imo.
Wish I was a hedge fund and have enough wealth to position myself correctly...

 

[studiocel]

I have $10 invested in BTC should I be worried

 

[SteveRogers]

You'll be fine, I invest 50 bucks a week into BTC, I've earned thousands in profit over the last year

 

[Deleted member 10536]

You'll be fine, I invest 50 bucks a week into BTC, I've earned thousands in profit over the last year

I'm not saying bitcoin is not going to go up or that it's a bad investment. But first half of 2021 it should get down to 20s at the very least. Unless us prints another 100trillion in a month, then it can only go up...

 

[EverythingMattersCel]

I'm not saying bitcoin is not going to go up or that it's a bad investment. But first half of 2021 it should get down to 20s at the very least. Unless us prints another 100trillion in a month, then it can only go up...

Look at the bigger picture. The trend is your friend. It's probably not a wise idea to short BTC rn... especially with all the Redditors and normies fomo'ing in. If you zoom out on the charts, it's clear to see we are in the middle of a bull cycle.

 

[Deleted member 10536]

Look at the bigger picture. The trend is your friend. It's probably not a wise idea to short BTC rn... especially with all the Redditors and normies fomo'ing in. If you zoom out on the charts, it's clear to see we are in the middle of a bull cycle.

I've never shorted bitcoin.
I only ever bought rallies or pullbacks.
I know the trend is up and I didn't say it here, but I see bitcoin easily reaching even 500k levels maybe during this decade.
Now though, I just can't see it. Now I only see down and big red bars going down to at the very least 25k.
This is imo a bull trap right now.
I just think this is a good opportunity to short bitcoin, which rarely happens. Idk if I will though.

 

[aphoria]

I think exactly the same and sold decent % of my position last couple of days. That big daily rejection candle on 29th of January tells me that we are not yet ready to go up. Monthly candle resembles 2017 December and 2018 January.

 

[Deleted member 10536]

I think exactly the same and sold decent % of my position last couple of days. That big daily rejection candle on 29th of January tells me that we are not yet ready to go up. Monthly candle resembles 2017 December and 2018 January.

Yeah, actually. Weekly candles and setup looks nearly IDENTICAL

It'd be funny if price went above that jan 29th candle and reversed hard from there... It'd be EXACTLY the same situation playing out again.

 

[brainded]

Bitcoin is too volatile to even consider shorting.

 

[Deleted member 10536]

Bitcoin is too volatile to even consider shorting.

False. Some crypto coins could be considered so, bitcoin very rarely moves with that big %. Volatility in general is the only way to make money trading.
Otherwise you invest and forget.
Which is actually the problem now with bitcoin. It's easier to invest than to trade, due to lesser volatility. Or I don't have enough experience for trading small moves.
But... I did manage to turn very slight profit in forex.

 

[DicedFeta]

Totally agree. Bullish bitcoin(or which ever crypto wins long term) because am bearish on the traditional economy. However, now short term I feel like a lot of people have FOMO'd in to btc expecting it too be 250k+ soon but I just don't feel like we are there yet. Atleast in my country getting crypto is still quite expensive(transaction fee+tax) and still somewhat difficult for the average person, especially if you wan't have them stored outside of the exchange. Barrier of entry and hardly used, but this will probably change in the future.

 

[SteveRogers]

Hi IQ thread thus far boys, I'm just invested in BTC, ETH and CELO atm, will hold them tight for next 10 years and have a couple extra thousand to pay for baby clothes or some shit.

 

[Deleted member 4887]

I got fucked by the XRP scam 2 days ago

 

[Deleted member 1862]

should I cash out at 38k tbh

 

[Deleted member 10536]

should I cash out at 38k tbh

Imo - yes. But ultimately it could be the start of new rally, into 60s. Personally - don't see that happening. I think 38k is great place to cash out right now. And re enter lower. In 20s~
Don't have to exit entirely, can be just part of a position.
Idk why I made the thread, I feel bad recommending people doing anything.
Just how I view it.

 

[Deleted member 1862]

Imo - yes. But ultimately it could be the start of new rally, into 60s. Personally - don't see that happening. I think 38k is great place to cash out right now. And re enter lower. In 20s~
Don't have to exit entirely, can be just part of a position.
Idk why I made the thread, I feel bad recommending people doing anything.
Just how I view it.

dw i won't take your view as gospel jfl

getting opinions from various sources bc crypto discords are absolute cesspools

 

[xefo]

y are u ignoring my thread

 

[eduardkoopman]

I'm very bullish on bitcoin long term, but I absolutely refuse to believe after these past few weeks that it should go and resume the bullish trend without a pullback into 25-20k range first. It doesn't make sense to me now. (I do have bitcoin right now) This current past several days rally is going to fail before 40k and crash into 20s. Market is acting irrational imo.
Wish I was a hedge fund and have enough wealth to position myself correctly...

I actually dumped 90% of muh bitcoin 4 weeks ago orso. and spread it out over 5 altcoins: cardano, etherium, litecoin, Monero, and bitcoin cash. The altcoins have been friendly to me, especially etherium, and I luckily put most of it in there.
I'm hopeing, of an "alt season"; since bitcoin performed so well in 2020; but altcoins left a bit behin on bictoin in 2020. i'm hopeing the altcoins are gonna play catch up this year, with bitcoin

 

[Deleted member 10536]

y are u ignoring my thread

I'm not, was doing other things and was going through notifications in a sequential fashion.

 

[eduardkoopman]

I got fucked by the XRP scam 2 days ago

these pump and dumps are risky as hell. Because it's impossible to time it well; UNLESS one is the one instigating the PUMP-DUMP; and you know when the "signal" will be given to the group whcih altcoin to pump-dump.
because as the instigator of such a group pump-dump. you can just buy upfront. And then when you give the pump signal, you seel 1 minute after that. and all the people of your group that are ordereing, are basically buying your coins at an inflated price. Than; after 1 minute. the buying dries up, that instigator and other people owning it (maybe auto sell limits set), start to sell, and than within 1 minute it crashes down again. Everything happens in like 2 minutes time. your hands can't be quick enogh, to not lose money. Maybe some people running auto-buy-sell srcipts can make a little bit of money.
but the big money, is for the instigators of the pump-dump

 

[Deleted member 10536]

I actually dumped 90% of muh bitcoin 4 weeks ago orso. and spread it out over 5 altcoins: cardano, etherium, litecoin, Monero, and bitcoin cash. The altcoins have been friendly to me, especially etherium, and I luckily put most of it in there.
I'm hopeing, of an "alt season"; since bitcoin performed so well in 2020; but altcoins left a bit behin on bictoin in 2020. i'm hopeing the altcoins are gonna play catch up this year, with bitcoin

Altcoins are performing much better in general than bitcoin. Bitcoin has reached a certain maturity level and the cycles are not going to be as big as they were, it would seem. It makes sense to go into altcoins because they do perform better, but that's in a way irrational too. But you have to adapt to how things are. I think bitcoin has a psychological thing going around it, i.e. big number = intimidating, so people are reluctant to go as hard onto it and altcoins are cheap, so they're psychologically more friendly to enter into - yes this makes no sense, because you can buy fractions of a coin.
I'd say that's a good move you did, besides litecoin/bitcoincash. I'd look into other coins too, idk anything off the top of my mind, maybe link?
Also was just following this random coin called sushi, idk anything about it, but it's been performing so well and I've never seen anyone talk about it. Just interesting.

 

[Deleted member 4887]

these pump and dumps are risky as hell. Because it's impossible to time it well; UNLESS one is the one instigating the PUMP-DUMP; and you know when the "signal" will be given to the group whcih altcoin to pump-dump.
because as the instigator of such a group pump-dump. you can just buy upfront. And then when you give the pump signal, you seel 1 minute after that. and all the people of your group that are ordereing, are basically buying your coins at an inflated price. Than; after 1 minute. the buying dries up, that instigator and other people owning it (maybe auto sell limits set), start to sell, and than within 1 minute it crashes down again. Everything happens in like 2 minutes time. your hands can't be quick enogh, to not lose money. Maybe some people running auto-buy-sell srcipts can make a little bit of money.
but the big money, is for the instigators of the pump-dump

What happened in the XRP one was last Friday it was announced that on Monday 8:30 am EST there would be a pump of XRP

Of course being crypto it was going to be a pump and dump. I, thinking I was being a smart ass bought XRP at 38 cents which was still a bargain

I saw my money double before the supposed pump began felt good but greedy so I waited for 8:30 then at 8:31 everyone fucking sells
Turned out the chinks all bought millions and no one was there to pump anything at the right time

 

[eduardkoopman]

What happened in the XRP one was last Friday it was announced that on Monday 8:30 am EST there would be a pump of XRP

Of course being crypto it was going to be a pump and dump. I, thinking I was being a smart ass bought XRP at 38 cents which was still a bargain

I saw my money double before the supposed pump began felt good but greedy so I waited for 8:30 then at 8:31 everyone fucking sells
Turned out the chinks all bought millions and no one was there to pump anything at the right time

brutals. all comes down into 1 minute split decisions.
I must say, I in general dislike that type of "game". Because it's the poorgang trying to fuck over/beat other dudes in the poorgang. it's basically the poors eating the poors.

 

[Deleted member 4887]

brutals. all comes down into 1 minute split decisions.

Just shows I should have sold as soon as i was in the money.

 

[eduardkoopman]

Just shows I should have sold as soon as i was in the money.

brutals timing element though. Because every dude that did the same as you, is now thinking the same.
So next round. Peoples are even gonna sell sooner/earlier.
And at 1 point, people will, to timing beat other poors, scripts and it will all happen in like 20 seconds time.

It's a game, that all comes down to speed.
But where the ones "calling the coins to pump-dump"are the only ones to make money for 99.99% certainity. for the rest, it's a test of; how quick one is.

 

[Deleted member 10536]

Just shows I should have sold as soon as i was in the money.

So plan ahead and execute trades according to plan. Then you can't regret. As if things go as you planned - you succeeded.
I did many trades recently and really well too, this year has been the most successful trading in my entire life and I barely had any losing trades. I don't think this is going to continue and I could have made much more money, had I held, had I kept my positions, had I had I... I'm just glad that I made money and everything turned out okay in the end. Nobody is going to execute perfect trades, as long as they're profitable, that's all that matters.
If you double money from a trade, it makes no sense to not take some amount of profit, or at least cover the initial investment and leave the rest riding for whatever it gives you.