Bitcoin to drop below $6000 within 10 days

[orbit23]

One of my counter-indicators(persona) who sold in panic at the peak of corona fears has been buying heavily the last 14 days.

Make of it what you will, i am short. We will see how it turns out. Trying to block myself for a week from all social media ET included, to focus on trading whatever happens.

 

[orbit23]

Just a pure guess OFC.

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Even if wrong and it goes up, the upside is limited IMO in the medium term. Like perhaps another 20-30% higher... Because of the altcoins.

I don't think this is happening..

 

[formikatrading]

I believe we are probably at a decision point for bitcoin. I'm expecting a big move coming - probably tomorrow.

 

[orbit23]

I flipped and longed. Altcoins better than BTC right now IMO.

Sentiment is roughly 50/50, which is usually continuation in a trend. So i'm favoring pump, but i might have bought the top here too lol.

Best would be to wait for a bit and just buy or short the break out of current consolidation.... Probably action coming after the daily close.

 

[formikatrading]

I like your flexible thinking.

I flipped and longed. Altcoins better than BTC right now IMO.

Sentiment is roughly 50/50, which is usually continuation in a trend. So i'm favoring pump, but i might have bought the top here too lol.

Best would be to wait for a bit and just buy or short the break out of current consolidation.... Probably action coming after the daily close.

 

[high-performance]

can you short bitcoins..there are bitcoin futures though
bitcoin is just derivative. and the money is in some bank that you wired to
it's just public ledger or bank account with public access to a bank account or money

I don't understand that regulators would even allow this product to exist. as I thought financical industry was highly regulated.

So much risk of fraud to niave public participants of this bitcoin phenomenon.

 

[orbit23]

I like your flexible thinking.

Well.... Have to be on the right side of the market.

I wasn't flexible at all and i fucked myself. I literally placed a bet that it will go up, then i closed my screens. I was stopped very much close to the top, but what bothers me the most is that i made the trade, placed the stop loss and thought i would come back to profits.

This is one of my biggest mistakes and it's happened so many times now. I know that it's going to go either up or down, but almost always i am on the wrong side and think that i will be right. If i were free of bias i would always flip in time and join the nice ride... But it's hard.

Anyways i am a scalper by default and it's what i am good at, when i try to trade bias i only cuck myself. If i just trade it as i know, then i'll most likely catch the moves anyways, regardless of what i think.

 

[formikatrading]

Today was a mess. I feel your pain.

Well.... Have to be on the right side of the market.

I wasn't flexible at all and i fucked myself. I literally placed a bet that it will go up, then i closed my screens. I was stopped very much close to the top, but what bothers me the most is that i made the trade, placed the stop loss and thought i would come back to profits.

This is one of my biggest mistakes and it's happened so many times now. I know that it's going to go either up or down, but almost always i am on the wrong side and think that i will be right. If i were free of bias i would always flip in time and join the nice ride... But it's hard.

Anyways i am a scalper by default and it's what i am good at, when i try to trade bias i only cuck myself. If i just trade it as i know, then i'll most likely catch the moves anyways, regardless of what i think.

 

[ZBZB]

can you short bitcoins..there are bitcoin futures though
bitcoin is just derivative. and the money is in some bank that you wired to
it's just public ledger or bank account with public access to a bank account or money

I don't understand that regulators would even allow this product to exist. as I thought financical industry was highly regulated.

So much risk of fraud to niave public participants of this bitcoin phenomenon.

bitcoin options on futures at CME.

 

[johnarb]

Today was a mess. I feel your pain.

Some very early coins (38 days old from the start of bitcoin genesis block) moved. Lots of posts claiming they are not Satoshi's coins but it's still being used as the reason for the selloff.

Saw another Twitter post saying that the head of Google quantum computing stepped down a month ago and probably cashing in (or out) by breaking the private keys of some early bitcoins, shoot, if that was proven to be true, could make bitcoin go to single digits real quick. It's funny so long as it's not true...

https://finance.yahoo.com/news/someone-just-moved-block-bitcoins-153526642.html