Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I only have a 50 coin short in right now. If we go back up in the 380s or 90s in the next week, I'll double it. I'll be the first to admit that I'm a shitty day trader, so I'm not going to make any big moves until I have some more confidence in my abilities.
I have substantially more in cold storage, so I actually hope I'm wrong about a retest of ~$300 support. I'll make money either way. I suspect better traders than me are trading these small bounces, betting on a rebound, giving bulls more rope to hang themselves with.
Unless your short is on such high leverage that it will compensate for losses in your cold storage, no, you are not making money either way (net).I have substantially more in cold storage, so I actually hope I'm wrong about a retest of ~$300 support. I'll make money either way. I suspect better traders than me are trading these small bounces, betting on a rebound, giving bulls more rope to hang themselves with.
Also:
I only have a 50 coin short in right now. If we go back up in the 380s or 90s in the next week, I'll double it.
Boy, what a great strategy. Average up your loss. 