Topic: Is it time to go short? - page 3. (Read 3703 times)
Taking a short position now isnt the smartest decision.
I think dumping price, maybe in one year still same and i see no hope for bitcoin 
I'd say the best market move to make at the moment is to short w/ some heavy leverage since so many people are thinking in this subforum that the 100s of any flavor are a possibility. Smart money is smart amirite?
20x on OKCoin ought to do it, and don't pussy foot around trying to scalp on a 1$ movement. COMMIT.
You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
What makes you say this is the bottom? I expect BTC myself to go to mid $100's but hey who knows...
What makes you say mid $100s? Why not low $100s? We won't know if we hit bottom for awhile, but a high volume fight at $160 and the recent stability despite numerous attempts at pushing down make shorting here a bad idea IMO.
Well said. I only said mid $100s because once we approach under below triple digits there will be a panic buy up and fierce resistance downwards since, at least that's what I think. The long term trend is still downward and we are moving sideways currently so IMO shorting isn't too bad.
You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
What makes you say this is the bottom? I expect BTC myself to go to mid $100's but hey who knows...
What makes you say mid $100s? Why not low $100s? We won't know if we hit bottom for awhile, but a high volume fight at $160 and the recent stability despite numerous attempts at pushing down make shorting here a bad idea IMO.
Well said. I only said mid $100s because once we approach under below triple digits there will be a panic buy up and fierce resistance downwards since, at least that's what I think. The long term trend is still downward and we are moving sideways currently so IMO shorting isn't too bad.
You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
What makes you say this is the bottom? I expect BTC myself to go to mid $100's but hey who knows...
What makes you say mid $100s? Why not low $100s? We won't know if we hit bottom for awhile, but a high volume fight at $160 and the recent stability despite numerous attempts at pushing down make shorting here a bad idea IMO.
Well said. I only said mid $100s because once we approach under below triple digits there will be a panic buy up and fierce resistance downwards since, at least that's what I think. The long term trend is still downward and we are moving sideways currently so IMO shorting isn't too bad.
You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
What makes you say this is the bottom? I expect BTC myself to go to mid $100's but hey who knows...
What makes you say mid $100s? Why not low $100s? We won't know if we hit bottom for awhile, but a high volume fight at $160 and the recent stability despite numerous attempts at pushing down make shorting here a bad idea IMO.
You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
What makes you say this is the bottom? I expect BTC myself to go to mid $100's but hey who knows...
You shouldn't short near the bottom. You had the opportunities to short at $700, or $500, or $400, etc. You get the idea.
There is a downtrend but I'm thinking more in terms of when to go long
Whilst the bitcoin market looks stable, traders desperately await a breakout. Since the beginning of February the price has been bouncing between 210 and 248, waiting for a near-perfect bearish breakout thanks to the absence of buying volume.
At this time, we would like to take a look at other fundamental factors that could potentially affect the bitcoin value in the coming months, maybe years. Firstly, the United States has doubled its quantitative easing, indicating yet another financial meltdown in coming years. This is reassuring for long term bitcoin holders as investors will be looking for other options to hedge their funds. As speculators believe, the demand of bitcoin will hit high during the economic slowdown. The bitcoin price surged 87% post-Cyprus bailout.
February 9th Bitcoin Trading Session
BTC/USD opened at around 224 yesterday, continuing the prevailing sideways movement in the absence of enough trading volume. As the day moved ahead, the price began to stir a little towards the downside, probably due to shaky hands leaving the market. A sell-off occurred subsequently, dropping the price down to 215, right inside the oversold region, though above the 210 floor.
The fall however failed to transform into a breakout, as price correction soon occurred and took price back inside the stable channels. At press time, the BTC/USD is valued around 220.
What to Expect Today?
As we review the chart, the technical indicators are once again inclined towards a bearish bias. The price is trading way below the 200-, 100- and 50-hour SMA while the RSI is stuck between the 43-47 area. The MACD blue curve is only a little below the normal line and has its head towards the south. We have drawn a red line, indicating the ultimate support point of the current bearish bias. If the price manages to break below this line, the pressure will once again fall on this year’s low of around 165. Once below, the price could tease even lower at the 100s.
In the case where the bitcoin price manages to move upwards, there is a series of resistance levels waiting to send it back to the 210 support area. A near-term bull run is hoping to find intra-day resistance around 230, and then later at 248. Even though these levels have a lot of selling pressure, any possible break above them will extend the bullish correction towards the 275-300 area.
Conclusion (On 1-D Charts)
Current Mood: Strong Bearish
Technical Indicators: Strong Sell (0 Buy 9 Sell 2 Neutral)
Moving Averages: Strong Sell (0 Buy 12 Sell)
https://www.coinarch.com/Info/Blog?Page=2015/02/daily-bitcoin-price-analysis-9th-february/
At this time, we would like to take a look at other fundamental factors that could potentially affect the bitcoin value in the coming months, maybe years. Firstly, the United States has doubled its quantitative easing, indicating yet another financial meltdown in coming years. This is reassuring for long term bitcoin holders as investors will be looking for other options to hedge their funds. As speculators believe, the demand of bitcoin will hit high during the economic slowdown. The bitcoin price surged 87% post-Cyprus bailout.
February 9th Bitcoin Trading Session
BTC/USD opened at around 224 yesterday, continuing the prevailing sideways movement in the absence of enough trading volume. As the day moved ahead, the price began to stir a little towards the downside, probably due to shaky hands leaving the market. A sell-off occurred subsequently, dropping the price down to 215, right inside the oversold region, though above the 210 floor.
The fall however failed to transform into a breakout, as price correction soon occurred and took price back inside the stable channels. At press time, the BTC/USD is valued around 220.
What to Expect Today?
As we review the chart, the technical indicators are once again inclined towards a bearish bias. The price is trading way below the 200-, 100- and 50-hour SMA while the RSI is stuck between the 43-47 area. The MACD blue curve is only a little below the normal line and has its head towards the south. We have drawn a red line, indicating the ultimate support point of the current bearish bias. If the price manages to break below this line, the pressure will once again fall on this year’s low of around 165. Once below, the price could tease even lower at the 100s.
In the case where the bitcoin price manages to move upwards, there is a series of resistance levels waiting to send it back to the 210 support area. A near-term bull run is hoping to find intra-day resistance around 230, and then later at 248. Even though these levels have a lot of selling pressure, any possible break above them will extend the bullish correction towards the 275-300 area.
Conclusion (On 1-D Charts)
Current Mood: Strong Bearish
Technical Indicators: Strong Sell (0 Buy 9 Sell 2 Neutral)
Moving Averages: Strong Sell (0 Buy 12 Sell)
https://www.coinarch.com/Info/Blog?Page=2015/02/daily-bitcoin-price-analysis-9th-february/
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