I have made a lot of money shorting bitcoin many times but have covered always around 300... There are too many companies and retail investors ready to buy many coins below 300 so dips below there will continue to get harder and harder. That's why this dip we only got to 315. I have stopped shorting this month for one simple reason.......

EVERYONE IS TRYING TO SHORT WHICH WILL LEAD TO A HUGE BOUNCE WHEN EVERYONE TRIES TO COVER THEIR SHORT!

Right now short interest is at 62% but the rate of it's rise is slowing down... Also a few weeks ago they literally ran out of bitcoin to lend out to shorters.
Basically for people who don't get how this works, I will explain it is very simple.
Someone lends bitcoin to me at a certain interest rate. I used that borrowed bitcoin with my collateral(more bitcoin) and instead of shorting a few coins I could now short approx 10. I then make a contract with the exchange to BUY BACK those ten bitcoin in the future(hopefully at a lower cost so I profit)
This is where the magic happens... If the price doesn't go down but it goes up instead then I must buy back those ten bitcoin at a loss, at a higher price, and if I wait too long(maybe a $50-100 increase in btc price) they will literally take all your collateral and just place a buy order for the 10 bitcoin right there. This is what is happening everyday now. Literally every order(long or short) will eventually be a buy order for the market! This is how the stock market had many repeated bubbles like we will have here for bitcoin!

More shorters will cover everyday and every rise more shorters will assume this is a ATH and short more but they will have to cover another day. More buyers entering the market while more miners hold for larger gains. Everyday there will be huge jumps up and the snowball effect will now become a moon launch. I really don't think we have built the rocket to the moon yet with the amount of buyer currently in the market but who knows maybe we will soon.

All I know is all I used to do was short bitcoin. I did it again and again every pop, every good news that came out even paypal... but now I am on the long side. I keep seeing us bounce off the 300 level and I see higher lows while the double bottom has been confirmed. I am now 110% long using my margin for a long position now.
Bye bye bears. See you around the 400 level maybe