If it was that easy, then people would all become a millionaire in a very short time. I can't see the price go to $300 as the panic is over. People now realize that what they did was stupid and are now buying back. And if it happens to go down that far, then I'll day trade during that period.
Top traders on the site that I subscribe to are all now short...they got in at $435 (OKCoin 3 Months Futurues), based on PoC, Fib retraces.
I will no doubt go short based on a double top, and then just before Bitcoin corrects, get Stop Called out of my position on one final FU move, b4 'they' take it down back to the slaghterhouse, with all the little piggies still on board, all oinking for $500 Bitcoin.
Adding more to my short, average position is $415 right now. Alot of sellers in this $420 area, but might still head to the trendline.
Question is, where did you place your Stop?
Probs right above $428?
Probs at $430, just like everyone else?
On the crash, I bought BTC at $366. Placed Stop at $354.95, safely below the $357 bottom........guess what happened going through the London Kill Zone?
LKZ coming up right now....
I think I will be hunting a Stop Triggering FU move for a Stop Entry.........Bitcoin on the margin exchanges will probs see a jump to $435.