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Welp I got mega boned on today's pump as I was still in the short. Unfortunate, but it happens. Lost about a week of earnings, time to get back to it. Shorting from 7500 here.
It doesn't make sense to short again after being liquidated like that. Unless there is some failed high at $7500, then wait for confirmation first.
I don't know if you read the Trollbox but there are way too many bears on Bitmex which think BTC will go to $2000 next month. They keep shorting, getting rekt and deposit more money into their Coinbase account from their bank account and start shorting again for no reason because people on the trollbox say so.
If you look on the daily chart it we broke the daily resistance of $6800 set last month and looks like we might be near term bullish.
I highly disagree. Almost every indicator pointed down at 6750 and it still pumped 10%, meaning those were definitely pointing down now. Even if it's a minor retrace to 7.3 (which has already happened), it was still due to go down at some point and is the correct call 90% of the time I think. I'll look at a long term long when I see the 4 hr and daily reset a bit.
