Crypto trading is tough when Bitcoin is sideways like it is right now, in my opinion. Patience is required, sitting on hands is frequent and a plan you may have today may be finished tomorrow so expectations need to alter. With that being said, this is the market that moves in multiples of insane. If you are like me and are ready for moves up or down you are well positioned for whatever comes.
@Salmin, You do realise short selling is not the reason a market may move lower right? People selling is what makes the markets move lower, if I am shorting I am shorting on a derivative of the underlying market.
Salmin
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@TraderCobb, It is the reason. When hundreds of thousands of people like you place their shorts and start selling their BTC price drops down and that is obvious.
TraderCobb
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@Salmin, Yea but that's not true. I am trading a derivative of the underlying. I didn't say I am short anyway lol
It's like in the GFC, they made me out to be a bad guy because I was shorting bad stocks when it was the directors and CEO's that caused the issue for us to have reason to short in the first place.
I have not sold my BTC, I also have not got short BTC. I am open to trading short if the market presents me the opportunity. That's what traders do. I hope it helps mate, have a good day and I really hope we see BTC on the rise again soon.
achtung360
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There is some fun with the art but this is well explained from a detailed TA perspective. Its the long view
TraderCobb
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@achtung360, WOW, that certainly is a lot to take in hahaha. Too much for me
@vickydaswani, I hope this helps you, what I am about to say that is. Sloping trend lines are a waste of time, to subjective. If you get rid of them you will see clearly. All the best