I was in a Twitter Space today, listening to a very experienced trader. He confidently told everyone to short Bitcoin and altcoins, predicting that BTC was going to drop into the 90K range and that altcoins would dump hard.
Now, as we approach the end of the day, Bitcoin is pumping already trading above $96K. At this point, it’s likely that his stop-loss was hit, or worse, he got liquidated.
It makes me wonder: how do even seasoned traders still get it wrong on intraday moves?
Let me know your thoughts.
In the end of the day on which there's no one that would be able to predict on where the market is going, even if we do say that you've been here on this market for a decade but still it wont be making out some guarantee that you would be able to find yourself that making out some precise predictions from time to time. What matter most on here is that you could be able to sustain because no matter how veteral or professional you are but still you are prone into bad trades or analysis on which it causes up for you to lose money. Now as of this moment on which we are hitting that new all time high of Bitcoin when it comes into its price then its good to see that we had break that new one but of course we didnt made out such up some huge movement yet and might be seeing $115k soon. Considering now that we are on this bull run year then its not that shocking anymore. For those who do have that short position sentiment then they are wrong on this time. Liquidated? Of course you would be able to experience it out because trader decisions could neither be just that long or short specially to those who do made out some futures but for those who are making up some spot position then you would definitely be having that paper loss and same goes into those who are currently holding. There's always a lesson that you would be able to learn and made out some realizations that this market is truly unpredictable. If we do tend to look around and see up some sentiments then we arent that seeing some recent positive news or events that made out some effect into the current price movement on which this do shows that this market could move out randomly.