If you have seen my previous charts, you would know my calls are pretty good. We will see a retrace at the $4700 mark. Get ready. Best of Luck.
We recently saw two 1100 BTC bids being sold into which were put in place to drive the price up. This means at some point bitfinnex will run out of margin. Someone wants to dump.
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May not hit 4700. We shall see.
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Shorting bitcoin is always a bad idea. A very bad idea. Just charting this but not actually shorting it.
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Sorry folks - i am still very busy with work and family etc. however got a chance to look at the chart for a bit. here are some levels to look out for. I strongly think a corection is coming before the no2x bull.
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3850 maybe.
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4000 is good support..
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See my first chart .... chart still stands.
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$4700 is the last resistance. Above that is bubble area. Bubbles go big very fast and bubbles burst very fast too.
Why would shorting be a bad idea if you can buy it back for cheaper, am I missing somethere here?
I mean if you use a bit of btc only for trading and not your investment part.
electo
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@yvofox, sorry -- i should have been clearer. Shorting on margin with high leverage is bad.
Shorting is actually a very good thing as it allows participants in the market who for whatever reasons do not believe that the market price is justified to act on this belief. Without the possibility to short then there would be massive risk of bias and inefficiency in the market. Prices would be more unstable, not less.
fineregex
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@mvb1, im back with a final solution to all the bull problems!
buy yobit's yovi coin with their "proof of ROM - rise only market" It is not possible/permitted to sell this currency thus it can only rise.
fineregex
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@fineregex, to the moon! that being said i believe the best market is a straight horizontal line / low slope. Virtually all volatility is unnecessary and only exists as long as people dont make up their minds well but gamble.
BRRD
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Do you mean retrace to $3700 mark?
BRRD
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OK, I see what you mean - first hit $4700 then retrace. Cheers!
I mean if you use a bit of btc only for trading and not your investment part.