I have been shorting since 2565 if you have seen my previous posting. I am continuing my short until $1760. I have included Some scalping zones, but I am keeping away from the longs. Max leverage on my shorts are 25x when bitcoin hits resistance levels.
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Not worried at all by this bounce, broke 2300 resistance level on finex so its looking to bounce off that. Good opp to short.
Trade closed manually
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Broke resistance will go higher. Waiting to get in a short at high 2400s
@asdfghghj, Sorry I didn't see the second graph and comment above..
HondaJr
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Hi! Do you have any reason you think it is going down to $1760?
ampatrick4
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@HondaJr, Have you been living under a rock? Yes, Segwit, way too many people went long, constant fud in the market, technicals, and the hype is gone from may and early june. Many reasons why its going down. The developement of bitcoin right now is not in a good state, and there is a risk of a chain split. Also, lots of money was pumped into these altcoins, and people were looking for massive profits. Now that the alts are dying short term, people have to dump into bitcoin, lowering the total market cap, and then there also dumping bitcoin. Again, many reasons its going down.
HondaJr
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@ampatrick4, Thank you for your comment. The market is now getting green(up trend). But in your opinion, it wouldn't last long. Is that correct ?(Is this a short term bounce?)
ampatrick4
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@HondaJr, Yea, holding, little bit out of the lines I made, but they are more of barriers, rather than trend lines.