I think it's time to go Short on Bitcoin - page 4.

JooBra

full member

Activity: 1204

Merit: 162

Quote from: rhomelmabini on March 01, 2021, 06:56:19 AM

The technical may tell it's bearish but there's something that the fundamentals is telling. Recently Citibank just released a 108 page report regarding Bitcoin, here's the link: https://www.citivelocity.com/citigps/bitcoin/

There are other fundamentals to look into and as what sentiments are telling I think the bull market of 2017 isn't the same as the 2021 bull market since 2017 the institutional investors wasn't yet in the space, this time they're here. Who knows but 42k or 39k was the strong support, it may not hit or not but I'm just happy buying every dip.

It's no brainer to buy at this time, it's just a correction. We saw today a green day and everyone who bought at this dip it's pretty much already in profit. Sometimes it's better to keep it simple.

SirLancelot

hero member

Activity: 2506

Merit: 582

"CoinPoker.com"

Quote from: goaldigger on February 28, 2021, 11:07:10 PM

This can be good for a serious traders that knows how to buy and sell but if you don't have experience with this one then I highly suggest not to do short trading since that's too risky. Bitcoin moves slower now, and hopefully to become more stable on this level so we won't see a big price corrections at all. Those who trading daily are probably making good profit with bitcoin and other altcoins as well, if you think Bitcoin is going down then look for other projects instead of too focus on Bitcoin alone.

I think the same when there is not much happening in the bitcoin market it is best to switch towards the altcoins market and rather than investing into altcoins we should look to trade them because the price for altcoins is highly volatile. Sometime ago ethereum was going higher then it went down and such trend continue to happen so if one is smart enough to capitalize on these movements they can even profit with the altcoin market.

Day trading bitcoin is not a bad idea but the problem is that when not much is happening you cannot really sell and buy bitcoins quickly and have to wait for days and even weeks sometimes. The plus point with trading bitcoin is that even if the market is going down we can remain unscathed because it will recover but if the same happens within the altcoins market, panic is obvious.

rhomelmabini

hero member

Activity: 2002

Merit: 578

The technical may tell it's bearish but there's something that the fundamentals is telling. Recently Citibank just released a 108 page report regarding Bitcoin, here's the link: https://www.citivelocity.com/citigps/bitcoin/

There are other fundamentals to look into and as what sentiments are telling I think the bull market of 2017 isn't the same as the 2021 bull market since 2017 the institutional investors wasn't yet in the space, this time they're here. Who knows but 42k or 39k was the strong support, it may not hit or not but I'm just happy buying every dip.

matchi2011

sr. member

Activity: 1456

Merit: 267

Buy $BGL before it's too late!

Quote from: gabbie2010 on March 01, 2021, 05:14:51 AM

Shorting Bitcoin near a support at $44K could be disastrous traders who shorted at $58K must have taken profit now waiting for a long position, although some analyst predicted March as a bear month based on the previous year price action the price might prove those analyst wrong going by the price surge this morning its up for every trader to decide the appropriate zones to long personally I think the price will be bullish this month.

It's moving up again and gaining good support, of this continue it will lead to touch $50K in the next following days,
knowing the volatility it's very possible.

In the end of the day, each traders have their own understanding and they will follow their guts choosing what to do, either
long or short they've got reasons and opinions.

Smartprofit

legendary

Activity: 2338

Merit: 1775

Quote from: DJANAS on February 28, 2021, 09:55:57 AM

I think bitcoin will drop to another Support in the next 24 hours, The volume is lower than the last weeks.

what do you think guys ?

Since March 2020, the rise in the bitcoin price confirms a bull market.

The local price maximum was around $ 58,000. Bitcoin price is currently below $ 50,000. $ 50 000 is an important psychological price level for Bitcoin.

However, in my opinion, we do not have convincing evidence that the price of Bitcoin will continue to decline. Currently, there are no fundamental reasons for the decline in the price of Bitcoin. The discount rate (refinancing rate) in the US has not yet increased.

Consequently, the dollar against other financial assets will continue to fall in price.

blockman

hero member

Activity: 2912

Merit: 627

Vave.com - Crypto Casino

Quote from: XZERO1 on March 01, 2021, 06:17:50 AM

I personally don't think the increase in price for Bitcoin is over yet, and we might see another big leg up soon, don't get bearish too fast, shorting Bitcoin while the trend is significantly up is not advisable and just because Bitcoin price actions seemed a little weak for a couple of days that should not motivate you to open large short positions.

Let them be bearish. That's what they think and thought about bitcoin so let them think like that. We have different techniques and thoughts about bitcoin this time.
And if the others are thinking that it's done and over, we think differently. This isn't the end of it and there's probably another run that might come soon.

XZERO1

member

Activity: 504

Merit: 33

I personally don't think the increase in price for Bitcoin is over yet, and we might see another big leg up soon, don't get bearish too fast, shorting Bitcoin while the trend is significantly up is not advisable and just because Bitcoin price actions seemed a little weak for a couple of days that should not motivate you to open large short positions.

Smartest move right now is to start opening smaller short positions now and if Bitcoin happens to keep going up adding more to your position, that way at least you can get a better average entry price for your position or you can open hedge long positions and be less exposed to risk if market goes against you.

gabbie2010

sr. member

Activity: 2590

Merit: 322

SOL.BIOKRIPT.COM

Shorting Bitcoin near a support at $44K could be disastrous traders who shorted at $58K must have taken profit now waiting for a long position, although some analyst predicted March as a bear month based on the previous year price action the price might prove those analyst wrong going by the price surge this morning its up for every trader to decide the appropriate zones to long personally I think the price will be bullish this month.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: DJANAS on February 28, 2021, 09:55:57 AM

I think bitcoin will drop to another Support in the next 24 hours, The volume is lower than the last weeks.

what do you think guys ?

At the end of the day it is your decision but shorting bitcoin when we are still in the middle of a bull market is dangerous, maybe you are right and the correction we are seeing becomes an open crash and you earn a fortune in the process, but in my experience this is not good, the price has the tendency to move like this and then skyrocket once again, so if you are going to short the market at least avoid using leverage as that could destroy your account in a few hours under the wrong circumstances.

abel1337

legendary

Activity: 2464

Merit: 1145

FOCUS

I'm actually shorting bitcoin on futures trading, But after hitting the support lines I'm going long for a short period of time because it's just bouncing back on big supports. I'm not that good in TA but I am expecting it to go lower if bitcoin goes down below 43k. Those who short bitcoin from the 56-58k range in futures trading surely gained a pretty good profit from the current price of bitcoin.

elisabetheva

full member

Activity: 1708

Merit: 105

Quote from: goaldigger on February 28, 2021, 11:07:10 PM

This can be good for a serious traders that knows how to buy and sell but if you don't have experience with this one then I highly suggest not to do short trading since that's too risky. Bitcoin moves slower now, and hopefully to become more stable on this level so we won't see a big price corrections at all. Those who trading daily are probably making good profit with bitcoin and other altcoins as well, if you think Bitcoin is going down then look for other projects instead of too focus on Bitcoin alone.

indeed it is not advisable to trade properly without experience, it is proper advice from you not to do or avoid. although we know, now is the right time to make short-term trades, even though the risk is greater but the returns are also fast.

I agree with you that bitcoin seems to be starting to feel at home at the current price position, and moving not as fast as a few months ago where an hour could reach a sharp difference in increase.
of course this will make it easier for altcoins to develop and increase. at that time you can also trade in altcoins, which shows an increase.
because there have been many surprises that have also happened to altcoins, indicating that altcoins are starting to move and will make it easier to trade potential altcoins.

maydna

hero member

Activity: 2912

Merit: 556

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: DJANAS on February 28, 2021, 09:55:57 AM

I think bitcoin will drop to another Support in the next 24 hours, The volume is lower than the last weeks.

what do you think guys ?

You can short on bitcoin, but you need to know that the price will bounce after reaching the low price because that has already happened many times a few days ago. Yes, the volume is lower, but that doesn't mean the price will be down for more or got another flash dump, but you should be careful. When you short on bitcoin, you need always to watch your trading and set the alarm to close your trading if the price retrace to the high price.

I don't short on bitcoin, but I trade, as usual, just to buy low and sell high. It is good for me because I can take $4-$10 for every trade, and I can do that more than 5 times a day Grin

So I don't need to short right now Grin

adaseb

legendary

Activity: 3738

Merit: 1708

Now is not the time to short or even take your long profits. The time to take your long profits was when it was at $58K but still not short. In the past you saw how crazy bitcoin rallies can get. You don't want to be caught off guard like that. Imagine shorting $20K, you would of almost lost 3x your investment since it almost hit $60K.

Right now we need to see what the future brings. If BTC fails to make a newer high and keeps making lower lows then look to short, however now is not the time. Especially since we came very close to the $42K support and rallied away from $43K. There are still large institutions getting involved at these $50K prices. So another ATH is not off the table.

goaldigger

sr. member

Activity: 2310

Merit: 355

Quote from: DJANAS on February 28, 2021, 09:55:57 AM

I think bitcoin will drop to another Support in the next 24 hours, The volume is lower than the last weeks.

what do you think guys ?

This can be good for a serious traders that knows how to buy and sell but if you don't have experience with this one then I highly suggest not to do short trading since that's too risky. Bitcoin moves slower now, and hopefully to become more stable on this level so we won't see a big price corrections at all. Those who trading daily are probably making good profit with bitcoin and other altcoins as well, if you think Bitcoin is going down then look for other projects instead of too focus on Bitcoin alone.

OcTradism

hero member

Activity: 1722

Merit: 801

Quote from: DJANAS on February 28, 2021, 09:55:57 AM

I think bitcoin will drop to another Support in the next 24 hours, The volume is lower than the last weeks.

Bitcoin can fall to $38,000, $39,000 to $41,000 but I won't short bitcoin. I would like to wait its fall to those targets and long it. Short is mean you are gambling in this current price. In this current price, that is close to $41,000 and bitcoin can bounce back anytime. In fact you can see the price is bouncing after $43,000 was called hours ago.

If you want to short bitcoin, wait for another test on $58,300 to short it. A very important note is short position is for short time and you should never hold your short positions for long time. And if bitcoin breaks the cap at $58,350, it is the time you should accept your short position with a small loss and close it. After the break, bitcoin will take off with another 10% to 20% rise.

cryptoaddictchie

legendary

Activity: 2100

Merit: 1321

CoinPoker.com

Quote from: DJANAS on February 28, 2021, 09:55:57 AM

I think bitcoin will drop to another Support in the next 24 hours, The volume is lower than the last weeks.

what do you think guys ?

If it's a future trading contract then yes but it must have been done during hitting the possible highest resistance or let say closer cause it will fall but based on the weekly record it's really volatile for the past few days last night the support is broken and have a new figure which is really worry some cause it could go lower later when it goes to bearish trend.

santiPOGI

full member

Activity: 1004

Merit: 111

Quote from: DJANAS on February 28, 2021, 09:55:57 AM

I think bitcoin will drop to another Support in the next 24 hours, The volume is lower than the last weeks.

what do you think guys ?

According to my review and analysis on the graph of bitcoin in the chart, I could say it could be right time to buy them now then hold.
Due to the way I look at it, their next target this week is 60k$ each Bitcoin, and this is what might the whale wants to happen for the coming week.

DJANAS

member

Activity: 219

Merit: 14

Quote from: sayaya17 on February 28, 2021, 06:56:50 PM

It looks like this is just a correction to the 60k and it will probably be a correction to the lowest point at $40k, and it will continue the highest price,
maybe in 3 weeks bitcoin could be side away between $40 to $49, then it will rise slowly to $50k before flying to $60k. But this is just my assumption,
any possibility could have happened.

Maybe i was wrong and you are right because after the monthly Candel closed, it seems that the price will go higher. i don't know 😅 i am just confused

SaShiRaJaVu

hero member

Activity: 1694

Merit: 541

Quote from: Viscore on February 28, 2021, 06:29:16 PM

That's correct but the hype is over, price will not just pump and go in one direction, it pumped even reach almost $60k and now that correction has started, I think we can see the opposite of bull run and I believe we will see a lower price than the current price.

The price will not pump and rally to new valuation in a continuous motion but the market was going in one direction for a long time and it is time we see some correction but i doubt we will see a big correction in March, the market will pump for a few more months but i wont be surprised if we have a range based market situation for a while and then rallying again and trying to break the all time high valuation before we see the major correction.

sayaya17

sr. member

Activity: 1638

Merit: 255

It looks like this is just a correction to the 60k and it will probably be a correction to the lowest point at $40k, and it will continue the highest price,
maybe in 3 weeks bitcoin could be side away between $40 to $49, then it will rise slowly to $50k before flying to $60k. But this is just my assumption,
any possibility could have happened.

Topic: I think it's time to go Short on Bitcoin - page 4. (Read 622 times)