either with me, makes me hurt when i looking at the current price of bitcoin.. i just let it be, since there is nothing i can do but waiting
just be patient, for i know the wait will be worth.. we just to have a little faith in BTC
I think there is an equilibrium of sorts. Run of the mill bulls and bears tussle at the current equilibrium, then a large short is covered, and the equilibrium is upset, but eventually returns.
What really sucks for you guys is that one of the most important pieces of information you need to at least have a fighting chance to day trade, you don't have!
How many coins have the exchanges lent to short sellers? How many have been returned (shorts covered)? How fast is the ratio between the two changing, etc. You need to know that if you are going to succeed as a small investor in a big pond with big (shorting) fish.
You don't know because crypto exchanges are not required to report it. The SEC figured out a long time ago that not reporting short sales was disadvantageous to the small investor, and they regulated it.
I have now formed a new opinion, BTCUSDSHORT on bitfinex (the exchange that recently stepped in major dog doo, another thread), is an attempt to divert attention away from their short lending practices. If a noob somehow stumbles across the concept of shorting and asks, bitfinex has an answer , "short interest, ah, here's this index we cooked up, it has the word short in it, this IS the droid you are looking for!". It is not.
So , there is really no way to predict where things might go, everyone is flying blind. Also keep in mind, TA evolved 100% in the age of short sale disclosure requirements. Applying TA to a market that is not transparent regarding short sales is probably not going to work, IMHO.
Good luck everyone, I think you'll need it!
