Renforex

How and when to short BTC

BITSTAMP:BTCUSD   Bitcoin / Dolar
This is not a prediction and the price may well spike upwards instead. However, knowing under what conditions to short BTC             is something that will become very important to crypto traders in the future if/when the skyrocketing stops and the price stabilizes.

In this situation, a break under the red line is our condition to sell. But we do not sell in anticipation of this happening. That's how the majority of traders blow up their account sooner or later.

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Idea Berkaitan

i agree...

Balas
Great tip. So better not try to quick short on falling ATH testing?
Balas
Renforex MichalWiatr
@MichalWiatr, Thanks :) I'm mainly a forex trader, so I advise against taking any position before seeing a technical confirmation on chart.
+1 Balas
MichalWiatr Renforex
@Renforex, What now? Waiting to return in channel? Thanks!
Balas
Renforex MichalWiatr
@MichalWiatr, It's not something I would wait about for, but the red line can always be extended and used as a simple rising support.

From here there are no technical resistance zones other than psychological ones based on round numbers...13000,14000 etc. So as a forex trader I leave it be and focus on other pairs until something clear presents itself :)
+1 Balas
Renforex MichalWiatr
@MichalWiatr, You COULD watch for this to break down. But it may not go far when/if it does due to the new support it has just created /x/CggFwA4T/#
Balas
Renforex Renforex
@Renforex, (Woops)
snapshot
Balas
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