BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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624 15
Descending triangle ... Is it going to be BEARISH this time? Have we found the top ? Are we going to see bigger descending triangle form here now under this little 5min one ?!?!
Comment:
In fact, this chart provides a different perspective of the market. This type of charting idea never passed through my mind. It is always good to keep in touch with professional traders.
Thank you for sharing this chart. Continue your good work.
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console patterntrader
@patterntrader, love to be of assistance buddy
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Can someone please explain how you short bitcoin? I have a coinbase account that only allows me to buy bitcoin, how would I short it? Thanks in advance!
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cweitat smk1289
@smk1289, when u short means you buy it but don't hold it for long! Could be buy and sell it off in a day or in a few hours. It depends.
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smk1289 cweitat
@cweitat, Haha no, that is not what shorting means. Short means you buy something when its value is high with the intention of selling when it goes down. It is the opposite of a long position. It has nothing to do with the amount of time that you hold it for.
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cweitat smk1289
@smk1289, yup I know, that works for Forex. But for exchanges like Bitfinex Bitstamp itBit, there's no way we could do that. Unless you are buying and selling via another exchange. So the definition of short here is as such
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cweitat smk1289
@smk1289, do correct me if I'm wrong. Thanks
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smk1289 cweitat
@cweitat, shorting isn't just a term used in Forex, it is a trading term used in all financial markets. You have long positions and short positions. You can short Bitcoin just like you can with any other financial instrument.
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cweitat smk1289
@smk1289, alright thanks
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console smk1289
@smk1289, you need to move your bitcoin to a broker that lets you have leverage and matches positions. Can i recommend you join 1broker.com , there is also pluss500 and many others :)
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