Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
when btc starts to fall back down to earth....
lol
good luck with your short....
Depends how you're shorting. Bitcoin dominance up 4% this week and also appears to be breaking out to the upside, some larger altcoins holding strong against Bitcoin, others falling hard despite dollar "gains". Again this has all the hallmarks of a trend reversal, Bitcoin pumping and alts lagging. Shorting alts in 2019 for satoshi profits was magnificent. Hopefully this year will be the same.
Yes that's true. But I think he shorted Bitcoin.
( I lold because Bitcoin being down to earth means < 20k to him, and because he wrote "when" and not "if"... like he could be sure of it. .... since his short is under water it all comes off as rather wishful thinking )
Fair enough, I don't know this character admitedly. I assume they are a noob who came late to the bear party but could be wrong.
Tbf I think $20K is a pretty fair price right now, it's around the average of the past 7 months ($19.5K) as well as in the middle of where most of the volume is. But then again Bitcoin doesn't have to play fair. Especially if there are more shorts trapped above $21.5K (November high) then that could be an easy liquidation hunt in the short-term.
I was in a short at $20,850 yesterday but got out once I saw price continuing to move sideways as well as relatively strong close yesterday. If there is a short available for the short-term (even just as a hedge) I don't think it will be til next week. Too low volume right now and bears not showing any selling strength. Despite how oversold price is on Daily time-frame.