NLC probably banned for paedophilia references..
Long interest falling now 0.09%
Next an attack on 300.
To the guy shorting because sentiment is bullish - how would that have worked out in 2014?
in april 2014, swimmingly... Dec 2014, even better.
you miss the point about the fact that
at the peak of a bubble, the sentiment is at it's maximum. This occurs just before everyone falls off a cliff together all hugging and telling each other how great they are
my motivation to short is not just about betting against the bulls, but anyways...
The thing is you have to wait until the bullish sentiment is crazy ripe.
Otherwise you'll simply sell too soon...
Look at the 1w chart on bitstamp and point out any bubble we are experiencing. Trying to play the contrarian by betting against forum sentiment can work. But betting against positive sentiment after a 14 month bear market when the price isnt even out of the long term log down trend seems..risky.
it's very risky, but I'm putting my bet here as it will pay off more for me in the long run. My biased decision making has also sought out reinforcement elsewhere in the form of various other indicators. Please note I'm not an experienced trader
... but ultimately I think that it pays off more for the market movers if the downtrend is not over, various EW counts support this, I think that depending on how you draw your charts, we are on the upper bounds of long term trend resistance, and failing to break it so far with any force is key. A revisit to a higher low or an area that could be called a retest of the previous low would confirm an end to the trend, but on lower volume, with less force.
Also with regards to betting against the market, I don't believe we are in a bubble, I was merely observing something I read in a book today. I don't think I could call the sentiment for this recent rise "peak sentiment", but the fickleness of bitcoiners is something to be exploited and I think it's too much too soon. Tradeview is full of "long" charts and indicators pointing up, which can be read as adding to a certain euphoria, or can be read as just plain scary to be shorting.
Stop loss just above 305 so no worries
small edits...