BTC/USD Sell-Short For 15%

August 13th

BTC/USD (Bitcoin / US Dollar) Quote $10,900

Bitcoin fell through in the past 2 hours from $11,200 to $10,900 creating the beginning of the 3rd step in down-trend from lower highs.

BTC/USD sell-short target $8,700-$9,500 for a 14%-25% difference from spot quotes. Anticipated duration is 1-4 weeks.

Confidence in downside performance for upcoming 5-days firm.

Just a pullback.

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15% in a month.

That’s Bitcoin…can go down 15% in a month, then all of the sudden shoot up 20% (or more) in a couple of days…

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Exactly. Still just a pullback…will reach $15k this year.

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It doesn’t mean that you shouldn’t shorten it, as it has huge variations.

The key here is for how long should you keep a short position open?

Right now, 1-4 weeks seems a lot for shortening Bitcoin to me, but I am no tech analysis expert at all.

It actually looks like Bitcoin is going the OP’s way right now and the volume seems to confirm it, but things could change very fast. I guess we will soon find out…

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August 14th

BTC/USD (Bitcoin / US Dollar) Quote $10,175

  • Down in favor 7% one day into post.
  • Keep an eye out for $9,000, potentially. 13% down from quote $10,175. 20% down from posts quote yesterday.
  • Time to take some profits.
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BTC/USD just broke below $ 9500, at least in Kraken exchange, around 7:30 AM GMT time, August, 15.

Did not see this coming at all.

Very impressive analytical skills. I think you just became my favorite crypto guru :slight_smile:

Would you be willing to share how you did manage to anticipate these results?

That is very true.

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August 15th

BTC/USD (Bitcoin / US Dollar) Quote $10,082

Time to close remainder!
Difference in favor of post = 7%
Original quote = $10,00 on August 13th

It’s based on technical data, broader monetary data, market capitalization, politics.

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Great catch. Congratulations.