Beastlorion
Short

Opportunity To Short Bitcoin

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
It is generally very dangerous to short during a bull run, but in this case I think there are significant reasons to expect a pullback as I have shown on the chart. Based on past performance, I would expect it to drop into the lower target from $4500 - $4700. Alternatives to shorting Bitcoin would be to buy altcoins that have proven to perform particularly well during Bitcoin's pullbacks. I have already posted charts on a few that I still think are valid. Two of those are $ZEC and $XMR. Both have very strong $USD trends(especially $XMR) and are at very interesting points in their market cycles that make them very attractive. Another two are $BTS and $XLM. These are more of wildcards. I'll link my charts below.

Having a strategy on how to manage your portfolio based on Bitcoin's larger moves is extremely valuable. It is something that I have struggled with in the past and it is not altogether an easy situation to navigate. I recommend stacking your portfolio with coins that are increasing in value against $USD and are also holding strong or increasing against Bitcoin during these times.

Where Bitcoin will move after this is a mystery to me. My gut says it should go down, but it is the most bullish currency/asset in the world so who knows. You could argue that it would be more healthy than not for Bitcoin to enter a bear trend so that it can refuel and begin to move gain in a year or two. This would also support any theories about the economy entering a recession over the next couple of years, which I think is probable and in the case of a bailout down the line, obviously that would be good news for Bitcoin . But this is all just hypothetical and speculative.

Good luck!
Trade active:
Opened short. Here we go.
Comment: F***ing Tethers.
Hahahaha fuuucking teeethers!
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$12,000 Could be the top depending on Fibonacci level !
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Any updates on this? Do you have a stop-loss in the range $10,000 - $10,100?
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Hi guys . What crypto do you prefer for long term ? (2018-2020)
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@klopak00, The literal moon by late 2021
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What are the significant reason you have?
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Hope it works out for you! I was waiting for $8369, but will be watching either way. Thanks for sharing
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OllieCc OllieCc
@OllieCc, $8416 - I meant, typo
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