BEAR MARKET STARTED - BTC is overheated. I OPENED SHORT postition

[richardsNY]

I just now secured some more profits as I expect this rally to lose momentum any time soon. If the price happens to increase further instead of going down, then I'll secure even more profits.

[1714917596]

1714917596

[spazzdla]

The price will crash after a huge spike fomo buy-in followed by a double top, this is not the buying spree yet...

I was thinking similar.. who opens a short in a range that has never been support or resistance.. that is just suicide.  When it crosses $1000 okay.. maybe.. when it comes close to the ATH ya short it hard..

This is the first time we have been in the 680-720 range for over what.. 2 days? .. 6 hours? lol.

[Red-Apple]

The price will crash after a huge spike fomo buy-in followed by a double top, this is not the buying spree yet...

I was thinking similar.. who opens a short in a range that has never been support or resistance.. that is just suicide.  When it crosses $1000 okay.. maybe.. when it comes close to the ATH ya short it hard..

This is the first time we have been in the 680-720 range for over what.. 2 days? .. 6 hours? lol.

the thing here is that if you check OP's history you can see why he is saying what he is saying.

it is always a doom story with him where bitcoin has no support and is falling, and this was an attempt following all that FUD-full history of his

[romero121]

I just now secured some more profits as I expect this rally to lose momentum any time soon. If the price happens to increase further instead of going down, then I'll secure even more profits.

That's the true fact with bitcoin. When the price increases while users don't expect it, on a hurry users tend to sell some and get some profit. Such activities keeps the bitcoin circulation increased and steep rise happens and the fall in price happens. Right now the scenario is not that, price increase is due to the increasing adoption and increasing direct acceptance of bitcoin.

[RoommateAgreement]

The price will crash after a huge spike fomo buy-in followed by a double top, this is not the buying spree yet...

so far the price has been ONLY rising and kept above $700 with absolutely NO crash unless you consider a $10 correction drop as a crash.

[Invulner]

Well you probably entered the short position a bit too early there since it actually went up a bit more after you left the train... But anyways yeah, always take advantage of the situation, stalling and waiting for something to happen is never a good thing to do IMO.

[TERA]

I sold all of the last 3 months altcoin trading profits at $730 but kept my original position so its a win win for me.

[pooya87]

All indicators shows that it is time to leave the train.

SHORTS OPENED..

user "ask" has been wrong once again.
there has been 5 days since this post and it is now clear that only a newbie would leave bitcoin since price is still above $700 and still rising (currently at $720) with a good buy support.

[ask]

Hi kids. I was out of internet in the mountains.

In the meantime my orders worked fine for me. Everything worked by the book. So:

• short position opened ~ $720 was closed at ~ $690
• long opened at ~ $685 was closed at ~ $740

So let's say around $80 per bitcoin in green. Leveraged

Thank you all.

[dropt]

Hi kids. I was out of internet in the mountains.

In the meantime my orders worked fine for me. Everything worked by the book. So:

• short position opened ~ $720 was closed at ~ $690
• long opened at ~ $685 was closed at ~ $740

So let's say around $80 per bitcoin in green. Leveraged

Thank you all.

Some day you might want to actually prove your claims.

[TERA]

Maybe someday I'll share my trades from 2013 where I repeatedly sold and releveraged during the rally from $140 to $1200, making a total profit of 3000%.

[spazzdla]

Hi kids. I was out of internet in the mountains.

In the meantime my orders worked fine for me. Everything worked by the book. So:

• short position opened ~ $720 was closed at ~ $690
• long opened at ~ $685 was closed at ~ $740

So let's say around $80 per bitcoin in green. Leveraged

Thank you all.

The time line does make this move quite possible. I just find it odd to short expecting just a 5% correction.

[ask]

Hi kids. I was out of internet in the mountains.

In the meantime my orders worked fine for me. Everything worked by the book. So:

Hi kids. I was out of internet in the mountains.

In the meantime my orders worked fine for me. Everything worked by the book. So:

• short position opened ~ $720 was closed at ~ $690
• long opened at ~ $685 was closed at ~ $740

So let's say around $80 per bitcoin in green. Leveraged

Thank you all.

The time line does make this move quite possible. I just find it odd to short expecting just a 5% correction.

• short position opened ~ $720 was closed at ~ $690
• long opened at ~ $685 was closed at ~ $740

So let's say around $80 per bitcoin in green. Leveraged

Thank you all.

The time line does make this move quite possible. I just find it odd to short expecting just a 5% correction.

When I opened first short I honestly expected drop to 660. Then when I saw that panic has gone, expected another spike down.

Luckily it happened as I expected.

[talkingleaves]

so, you closed your long at 740....you short again? I am, but feeling like maybe its not worth the risk right now

[PokerFace3]

The price will crash after a huge spike fomo buy-in followed by a double top, this is not the buying spree yet...

How can we say this is not the buying spree when we are aready in the ember month.
This is the time that people use to buy lots of bitcoin not ony for trading to make profit but also to make purchases for the end of year festivals and celebrations, this usually increases the demand for bitcoin and consequently its price.

[ask]

so, you closed your long at 740....you short again? I am, but feeling like maybe its not worth the risk right now

I actually shorted pair ETH/USD.  Why?  Because I expect BTC to move up and ETH down.

[Spaceman_Spiff]

so, you closed your long at 740....you short again? I am, but feeling like maybe its not worth the risk right now

I actually shorted pair ETH/USD.  Why?  Because I expect BTC to move up and ETH down.

Then you should short ETH/BTC

[TERA]

What's funny is this thread was created at a price still below the current price.

[Spaceman_Spiff]

I am actually also not very bullish for the short-term.  We went up fast and hit resistance.  Some consolidation (we might not drop a lot though) is in order before we go to Mars.

Geez, we have gone up like $70 over 11 days. That's not "going up too fast"
You acting like a little girl now.

You were saying?
Edit: btw, I bought back in again, even though this correction might go lower, the upside potential is too big to take the risk.

[bamboylee]

What's funny is this thread was created at a price still below the current price.

OP must be scratching his head right now. He shorted at the wrong time. I just hope he got out of his short when the price dipped last time due to bad rumors.