There is some confusion about what you actually did, according to the title you shorted the bitcoin at $17k, however, in the post you state you sold it at $18k.
It would not be a good idea to short bitcoin at such a level when bitcoin has fallen so much. Of course, you can scalp but there must be a supply zone where you are trying to short. However, you did completely opposed short-ed from a demand zone ($17600)
Topic: I made a mistake shorting BTC at 17k - page 6. (Read 1260 times)
You can always DCA (dollar cost average) to recover your assets. Never think that you are going to stay on the same position. you can always examine and analyze the market to average out your cost to recover your lost funds.
If you are lacking the confidence to do it yourself, I suggest you to use KuCoin DCA bot. It is automated so you can relax.
But always do your own research. and if you want to go for the long-term holdings then i think you can still buy now and wait for the price to pump again.
If you are lacking the confidence to do it yourself, I suggest you to use KuCoin DCA bot. It is automated so you can relax.
But always do your own research. and if you want to go for the long-term holdings then i think you can still buy now and wait for the price to pump again.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me
Good luck to all, i hope you're smarter than me
I don't understand, did you actually short bitcoins or did you only sell all your coins? If you bought your coins in 2020 and sold them now you should have at least made a profit and have 0 exposure now. That's alright you are not losing any money when bitcoin rises again, but you are also not making any profit. In case you actually are short and have a negative exposure to bitcoins, I would recommend you cover your position immediately. It's not really realistic for bitcoins to fall in price. Your potential upside is very limited whereas your downsize is huge. I wouldn't take that risk. You sold almost at the 52 week low, which is never a good idea. Hope you learned from your mistake and will not repeat it. Good luck for your next trade.
The OP did not write how much BTC he sold (which is not too important), but at first it seemed to me that it was a larger amount - because even if it was 1 BTC, the difference between $18k and the current price is only slightly more than $1000 - which in some smaller amounts is not a loss worth mentioning.
We are not smarter, we just look at some other graphs that show the real situation. I don't know about the price, but if you were wrong once, it is possible that you will be wrong again. In a bear market, there is always a higher probability of a new crash than a mini pump.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me
Good luck to all, i hope you're smarter than me
We are not smarter, we just look at some other graphs that show the real situation. I don't know about the price, but if you were wrong once, it is possible that you will be wrong again. In a bear market, there is always a higher probability of a new crash than a mini pump.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Pumping like crazy? I don't see the "crazy" part yet. But remember, shorting BTC is hurting. So you fucking should buy more.
Haha , right
Buy more.At first, when I read this statement from OP that bitcoin is pumping like crazy, I thought I might have missed something. Then i decided to go to my trading view and see the current bitcoin price. But before that i decided to look at when this post was made and it was today. I was sure that bitcoin might really be pumping but when I saw the bitcoin price, it was still at 19,000$ and a few hundred dollars. There is no pumping as mentioned by the OP.
Well, this should be a lesson for you, because it has been discussed here more than once that selling bitcoin in order to increase the number of coins is a bad strategy. You can sell in the event that either you have reached the price that you planned, or you want to sell some part of your investment in order to buy something, as a reward for yourself. The speculative sale of bitcoin is already trading, and in this case, the risks of losing your coins will increase significantly. There is still a chance that the price will drop lower, but this is already a lottery, no one knows whether this will happen or not.
If you don't want to look on this thread a few years later, and laugh for considering $20k expensive, I recommend you buy back. Selling bitcoin at $17k with $20k as current market value doesn't seem a "huge mistake". However, if the price doubles, triples etc., you're about to regret it.
Also, rainbows make sense until they're broken, same as with S2F.
Also, rainbows make sense until they're broken, same as with S2F.
Hmm, I tend to agree with what virasog and others said. Not selling during the bull run and all the hype around bitcoin in 2021, but selling all of it during the bear market? That's indeed pretty absurd. Especially considering your obvious weakness on the technicals. I'd like to hear your reasoning on why you thought this was a good idea. Did you have any particular goal in mind when making this decision? Did you want to buy it back at a lower price or what?
Oh well, each to his own, I guess. Personally, I've never had much patience, so I made a few buys/sells here and there during this period (and lost a bit as well). But I'm sure you're aware, bitcoin is a very volatile asset. You can't just buy it and expect to see a constant upward trend in price. If you're not willing to take risks, I suggest staying away from bitcoin. But remember, there is no free lunch in this world. You can't have security and high returns on your investments at the same time.
Oh well, each to his own, I guess. Personally, I've never had much patience, so I made a few buys/sells here and there during this period (and lost a bit as well). But I'm sure you're aware, bitcoin is a very volatile asset. You can't just buy it and expect to see a constant upward trend in price. If you're not willing to take risks, I suggest staying away from bitcoin. But remember, there is no free lunch in this world. You can't have security and high returns on your investments at the same time.
I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.
Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me
Sorry to hear this but from what you said, you have been hodling your BTC since 2020 so you definitely would be in some profit even as you have sold which was obviously a mistake because if you look at all relevant Bitcoin price chart, the market is basically around the bottom which would have suggested continuing to hodl, but we all make mistakes and since we can establish that, it will be good to buy back cos even IF the market might go down, it might not really be that much againWell when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me
I suggest you buy back your BTC now before prices shoot back up because the logarithmic rainbow charts are already putting this current price in "Basically a fire sale", even almost breaking below that color line - meaning we will never see $17K again (sorry Bitcoin to zero doomers).
And I agree, we can clearly see what @NotATether is talking about there, and even though the market could go below, I still think we are around the bottom.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Pumping like crazy? I don't see the "crazy" part yet. But remember, shorting BTC is hurting. So you fucking should buy more.
I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.
Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me
Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me
Isn't strange that you are holding bitcoin since 2020. This means you did not sell anything in the 2021 bull run. Bitcoin was at 60,000$ , 50,000$ and even at 30,000$ you still not sold. I wonder why u become so panic at 18'000$ and sold everything?
Didn't you have believed the bitcoin will again go to all time high in its next bull run. You have held bitcoin for 2 years, you could have held them for another two years.
Prediction errors are bound to happen to everyone.
never regret the past, let's go in a better direction and there is still a chance to buy in the 18-19K area and save it well until they fly to the moon
never regret the past, let's go in a better direction and there is still a chance to buy in the 18-19K area and save it well until they fly to the moon
I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.
The mistakes we made often is the we so much believe in those market indications which don't really work most times as predicted, but if you had known this to realize that we are already on the dip season for bitcoin price and what should have been waited on is for the next bull moves, things couldn't work the way they were had it been the predictions has always been accurate, no one could have made losses, know that bitcoin price is base on your personal speculative discoveries since you're investing with your own money.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
We cannot tell yet if the bottom was touched, however, I also agree that betting on 17k was pretty much foolish (under 20k there seem to be much better chances upwards than downwards).
Yep, best would be to buy back, and although "market pumping like crazy" is not actually correct, not for Bitcoin, I feel like the opportunity window (for buying back cheap) may get very small.
However, please do your own thinking and do with your money as you decide, not by what I'm writing. I may be right, but I also may be wrong.
I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.
Do not believe in those things you are reading from the news, they are only short term in outcome. Do not compare bitcoin with stock if you are not a day trader. It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.
We do not know yet, but best to go for long not short, or just buy and hold. Even $18000 has been a very strong support. Let us see what would happen before the end of this year, but very possible bull market will begin by next year or some days or weeks before. Not an advice but a guess.Profit is more guaranteed if you hold, instead of creating a short position.
I made a huge mistake and i really refuse to buy BTC at now higher price.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
This doesn't make much sense to me, not to buy again if you are so sure that we won't go back to 18k. But I guess you haven't since you are not buying. :p Last time I made similar mistake was back in mid 2019 when I tried to be smart and "sell high buy low" and in the end I ended up doing the opposite thing, which made me realize that trading is not for me and I guess its not for you either so better stick to hodl if you don't have the stomach for it.
Having said that, I do think that there is a solid chance we go back to 18k, and below.
meaning we will never see $17K again (sorry Bitcoin to zero doomers).
Hah, many said that for 19k as well. And I don't think that those who think that there is a chance for bitcoin going below 18k automatically think its going to zero. 
I suggest you buy back your BTC now before prices shoot back up, because the logarithmic rainbow charts are already putting this current price in "Basically a fire sale", even almost breaking below that color line - meaning we will never see $17K again (sorry Bitcoin to zero doomers).
I've been holding BTC since 2020. 2 weeks ago when inflation data came out saying core CPI went up a lot i sold my BTC at 18,000$.At first it seemed i made right choice since stocks went almost -3% premarket and i thought we're gonna have final capitulation in both stocks and BTC, that it will go down to 13-15k.
Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me
Edit: i updated my post at #103
Well when market opened everything just went up, ended like almost +3% at the end of the day. It was the perfect explanation why you shouldn't time the market. I made a huge mistake and i really refuse to buy BTC at now higher price.
It really seems BTC bottomed at 17.5k and stocks(SP 500) at 3480.
Now market is pumping like crazy,its obvious we won't go back to 18k or below.
Good luck to all, i hope you're smarter than me
Edit: i updated my post at #103
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