Ok I short at $245. Wish me luck. 
The ballsy thing to do. 
Topic: Short now = make lots of money? - page 4. (Read 4428 times)
Wall Street is coming soon. I don't think any of the past cycles will matter once they come in. It will be a whole new ball game.
So true.
We need to test $250s, from there we will see if we retest $100s or keep a pace upwards. I really think people who are thinking this is a repeat of 2011 are forgetting how much has changed since 2011. Wall Street is coming soon. I don't think any of the past cycles will matter once they come in. It will be a whole new ball game.
Ok I short at $245. Wish me luck.
Hi,
I have no experience short selling but I debate shorting now. Good idea? Anyone with experience? BTC seems overbought...
I have no experience short selling but I debate shorting now. Good idea? Anyone with experience? BTC seems overbought...
There are indicators which can help define whether a market is overbought. I use RSI in daily trading and it proves reliable if read correctly. Many people don't agree that technical analysis is relevant to Bitcoin, I disagree.
This simple chart shows the RSI and Fibionacci retracement indicators for Bitcoin for the last three months.
The retracement lines help to show where bounces within the down trend might reach before failing. As you can see, Bitcoin could rise to around 310 and still have only retraced 50% of the recent move down from the 420+ highs of November.
The dips below the RSI red line show when it became oversold and rallied.
In conventional RSI reading, the downtrend will stay intact until a reading of over 50 is established, currently about 42, a level which has more or less been a lid on it for the last month.
TL:DR
So, no, I don't think it's overbought yet, but it's still in a down trend.
http://i.imgur.com/ixyXrOQ.png
Hi,
I have no experience short selling but I debate shorting now. Good idea? Anyone with experience? BTC seems overbought...
I have no experience short selling but I debate shorting now. Good idea? Anyone with experience? BTC seems overbought...
BUY SIGNAL
To da mooon
Bear market is over so good luck with that.
lol Because of a comparison of 2011 and this downtrend? Yeah right. Just like the $339 or $275 bottoms right? Keep watching.
Please go on and short
Shorting now is risky, picking tops when price is heavily bulltrapping is not a good idea.
If you are in BTC and you wanna take profit sure, but shorting right now is asking for trouble.
If you are in BTC and you wanna take profit sure, but shorting right now is asking for trouble.
short now and die.
Bear market is over so good luck with that.
lol Because of a comparison of 2011 and this downtrend? Yeah right. Just like the $339 or $275 bottoms right? Keep watching.
Hi,
I have no experience short selling but I debate shorting now. Good idea? Anyone with experience? BTC seems overbought...
I have no experience short selling but I debate shorting now. Good idea? Anyone with experience? BTC seems overbought...
There are indicators which can help define whether a market is overbought. I use RSI in daily trading and it proves reliable if read correctly. Many people don't agree that technical analysis is relevant to Bitcoin, I disagree.
This simple chart shows the RSI and Fibionacci retracement indicators for Bitcoin for the last three months.
The retracement lines help to show where bounces within the down trend might reach before failing. As you can see, Bitcoin could rise to around 310 and still have only retraced 50% of the recent move down from the 420+ highs of November.
The dips below the RSI red line show when it became oversold and rallied.
In conventional RSI reading, the downtrend will stay intact until a reading of over 50 is established, currently about 42, a level which has more or less been a lid on it for the last month.
TL:DR
So, no, I don't think it's overbought yet, but it's still in a down trend.
Bear market is over so good luck with that.
No, risk is too high, not worth it yet. If in the near future support won't hold and a downtrend will become apparent, then it may be worth and not risky.
Hi,
I have no experience short selling but I debate shorting now. Good idea? Anyone with experience? BTC seems overbought...
I have no experience short selling but I debate shorting now. Good idea? Anyone with experience? BTC seems overbought...
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