BitcoinShort
Last Great Near-Term Bitcoin Short Setup (Probably)
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I say probably because Bitcoin traverses so many thousands of points in a day that it isn't out of the question to figure that a new cycle could rise and fall in 2021 after this one bottoms.
While most are thinking about discounted long entries (and the beginning of the next near-term bull cycle), I prefer to take the glorious short setup so that I do two things:
1) Ride the ~15,000 or so pts downward that will manifest should we see a clear breakdown here
2) I'm making sure that I am not entering long too soon - say I short this successfully to the target zone depicted above and then immediately flip long for first accumulation - while there may be more downside pain, at least I covered the difference on the way down and then some.
If you're still holding the bit-bag back at 63k, then it might be a good plan to hedge the rest of the downside risk with a leveraged CFD short position, or an options play with speculative puts on one of the many Bitcoin ETFs, or open a futures account and sell BTC futures contracts.
One thing about the third option mentioned - you will need over 100k in up-front margin before considering it, so best of luck with that.
Those that aren't middle-eastern oil princes, US politicians, or vested Tesla employees, I would go with the second alternative of ETN puts when the market opens. See VanEck ETN tagged below for one such option.
-FinalBitPigShort
BITBAY:BTCUSD
BITBAY:BTCUSDT
CAPITALCOM:CIX
TOTAL
ETH
OTC:GBTC
BTCUSD
SWB:DE000A28M8D0
While most are thinking about discounted long entries (and the beginning of the next near-term bull cycle), I prefer to take the glorious short setup so that I do two things:
1) Ride the ~15,000 or so pts downward that will manifest should we see a clear breakdown here
2) I'm making sure that I am not entering long too soon - say I short this successfully to the target zone depicted above and then immediately flip long for first accumulation - while there may be more downside pain, at least I covered the difference on the way down and then some.
If you're still holding the bit-bag back at 63k, then it might be a good plan to hedge the rest of the downside risk with a leveraged CFD short position, or an options play with speculative puts on one of the many Bitcoin ETFs, or open a futures account and sell BTC futures contracts.
One thing about the third option mentioned - you will need over 100k in up-front margin before considering it, so best of luck with that.
Those that aren't middle-eastern oil princes, US politicians, or vested Tesla employees, I would go with the second alternative of ETN puts when the market opens. See VanEck ETN tagged below for one such option.
-FinalBitPigShort
BITBAY:BTCUSD
BITBAY:BTCUSDT
CAPITALCOM:CIX
TOTALETHOTC:GBTC
BTCUSDSWB:DE000A28M8D0
Trade ist aktiv
I took a short position about an hour ago. Did this analysis first to justify the bearish position, since a bullish reversal can never be discounted with BTC. Still, odds heavily favor a breakdown:Trade ist aktiv
This is an excellent place to enter short.. just added remaining position as wellTrade ist aktiv
triangle complete => big wave down incoming:Trade ist aktiv
alright now full short position loaded again.. lets see some fireworks already.Trade ist aktiv
still short.. just checked my CFD position for first time since last posting here and I have not gotten margin called yet. That is 1) hilarious, 2) confusing, and 3) a near-perfect confirmation that this will play out more or less as depicted above.I cannot think of a single good reason to buy bitcoin in this spot, but I can think of many bad reasons. Almost all are tied to greed, desperation, and chasing the gain-dragon after being desensitized by 100 percent gains, everyday, for a month or two straight.
That's all I gotta say on the subject, am keeping the short on until 23k/per coin, unless I somehow get weirdly called as soon as my position gets green.
Trade ist aktiv
Also why I say probably.. just takes forever for the conditions to align across markets for the next drop.Should happen before the weekend though. See the latest trade setup below:
Trade ist aktiv
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