Short

Updated

Time To Short BTC

BTCUSD today shows a pattern wich usually occurs if a trend is going to be reversed. After a parabolic (up) move a 10% intraday gain was end of the day completely reversed.

Stockmarkets history is telling us this is likel a short to medium term sell signal

The whole story behind BTCUSD reminds being a bubble. But bubbles gang gets bigger and wider as most traders anticipate. To short the market at any "top" in most cases never works. Usually after the latest top follows a very last top and after this a very, very last top and so on. To short a market like this needs to follow strict trading rules means to implement SL orders or trailing stops. Until now there are almost no ways to protect shortpositions with BTC call options - as i know.

Note

Bitcoin plummets $200 in 4 hours then recovers to fresh record in wild trading that serves as a cautionary tale
Bitcoin erased, then mostly recovered, about $200 overnight.
In contrast, gold futures have traded within a range of about $150 this year.
The digital currency has had other volatile swings this year.
cnbc.com/2017/05/23/bitcoin-plummets-200-in-4-hours-then-recovers-in-wild-trading.html

Note

After the "latest" top (i shorted) followed a second and a third one. This is what allways and in any case happens, if ever traders shorting "the top". The more easy way is to let the top pass by and wait for the elliot "3" and short than the markets. Anyway: The latest three candle pattern indicates more and more that this explosive move likely to end now in a blow off. "Likely" doesn`t mean "sure".

Note

Is Bitcoin’s monster rally over for now?
investing.com/news/forex-news/is-bitcoin’s-monster-rally-over-for-now -488029

Note

Investing.com – After posting record high after record high, here’s the relevant question: is (Bitcoin’s) giddy rise now set for a fall.
The crypto-currency hit yet another fresh record high of above $2,300 on Wednesday. That came after it rose 9% on Monday to trade above $2,200 for the first time, after closing last Friday at a then record high of $1,913.
Bitcoin is up some 130% since the start of the year and has risen close to 400% from a year ago as an increasing number of companies seem willing to assume exposure to the digital currency.
It has also become a safe haven currency for political risk. Ironically, the biggest group of buyers are Japanese nationals, holders of the safe-haven yen. Japanese regulators are some of the strictest regarding trading in digital currencies.
So, should you invest in Bitcoin? If you believe what you are witnessing is a stampede then prudence would suggest investors should wait for a correction before getting exposure to the asset.
“To say that the RSI is overbought is an understatement,” an Investing.com analyst says in an article for the global financial site. The RSI, or relative strength index, charts the strength or weakness of an asset based on recent closing prices.
The site’s analyst also points out that stochastics are overbought, posing the threat of a bearish cross and a double top. Stochastics measure the relationship between closing prices and price range for a set period of time.
He says it is anyone’s guess as to when to get into the market. His suggestion: when the digital currency’s price returns to its last uptrend line in late March, probably at the $1,650 level.

Trade active

Added 2/8 more shorts at 2.370.

Trade active

Added 1/8 more at 2.340.

Note

BTCUSD: Parabolic up. Smells a bit like pump and dump.

Trade active

Added 1/8 more @ 2.418. Average short price now is 2.315 USD. BTCUSD could rise up to 3.000 so that i would at least 3 times more into this rallye.

Note

Sentiment today:

78,3% BTC buy
21,7% BTC sell

Source: markets.com/de/instruments/bitcoin

Note

Bought 3/8 more @ 2.400. If ever BTC is rising further i will double this shortposition and start again with 1/8 on thursday morning, may 25th.

Note

Bitcoin soars above $2,400 to all-time high
investing.com/news/forex-news/bitcoin-soars-above-$2,400-to-all-time-high-488064

(Reuters) - Digital currency bitcoin hit a fresh record high on Wednesday, surging above $2,400, as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology.
Blockchain, the underlying technology behind bitcoin, is a financial ledger maintained by a network of computers that can track the movement of any asset without the need for a central regulator.
Bitcoin hit a record of $2,409 on the BitStamp platform and was last up 4.3 percent at $2,363. So far this year, the price of bitcoin has more than doubled.
A key reason for bitcoin's dominance in the nefarious online underworld, say technologists and cybercrime experts, is its size - the total value of all bitcoins in circulation is more than twice that of the nearest of hundreds of rivals.
Also, a big part of bitcoin's recent surge is the increase in demand for other digital currencies being sold in so-called "initial coin offerings", or ICOs. Under ICOs, blockchain start-ups sell their tokens directly to the public to raise capital without any regulatory oversight.
"Bitcoin up 100 percent in under 2 months. Shanghai down almost 10 percent same timeframe, compared to most global stocks up. Probably not a coincidence!", Jeffrey Gundlach, chief executive at DoubleLine Capital tweeted on Tuesday.
Strong demand for bitcoins in Japan has also fueled the rise of the virtual currency that can be moved like money around the world quickly and anonymously without the need for a central authority.

Trade active

Avarage Price this round of shortpositions (all 8/8): 2.344

Note

BTCUSD: Parabolic Up

Sentiment: 78% long, 22% short

Note

The new round of 8 more shortpositios:

1.: 1/8 short @ 2450

Note

Parabolic up, better to see here: invst.ly/3-kfd

Trade active

2.: Next 1/8 @ 2.450 USD

Trade active

3.: 2 times 1/8 @ 2.420

Note

4.: 4 times 1/8 @ 2.420

If ever BTC goes up more will add same later this day and on friday. Parabolic up moves on 80% longpositions usually follow one simple law: Gravity

Note

Volatility vs. Gravity: Bought seconds before the drop - lucky horsetrading.

Note

"Sold" seconds before the drop. Opened BTC shortpositions.

Trade active

BTC Sentiment:

82,2% (!) long
17,8 % short

3. round: 8/8 @ 2.602

Note

Above new 80% Longposition in any Bullmarket means that Gravity will bring any Market down if traders starting to take Profit.

Note

Avarage price 2.445 USD. sentiment up now to 83,3% long vs 16.7% short.

Note

Small traders are in the Markets:

Trading Idea Long -> Short MIDTERM 10.05.2017 - 19.05.2017

Most trades are 0.0XYZ BTC

A litte bit it's smells still like Pump and Dump. BTC now up to 2.700. next round to short for me will be in Friday. I guess BTC now will see 3.000 first.

Note

The link above showing another trading idea was the wron one. I replay the moment as it should be below.

Note

Small Traders are in the markets right now and still no large traders as the BTC developer conference this week had made believed all Traders, that start ups going to buy BTC in high volume what small specs than would sell to.

Transactions can be watched realtime here and everyone can see that most trades are at 0,0XZY BTC:

fiatleak.com

A litte bit it's also smells still like Pump and Dump. BTC now up to 2.700. next round to short for me will be in Friday. I guess BTC now will see 3.000 first.

Note

4. round: sold short 8/8 at 2.690

Scheduled next 4 rounds, directely 8/8:

5.: @ 2.800
6.: @ 2.900
7.: @ 3.000
8.: @ 3.000

Note

The source i follow is showing now 86% of all trades are on the buy side (cfd).

Note

Global chat platform Kik to launch digital currency
investing.com/news/technology-news/global-chat-platform-kik-to-launch-digital-currency-488465

Note

Bitcoin may have more than doubled this year, but rival Ethereum is up 2,000 percent. Here's why
The price of bitcoin has more than doubled in 2017.
But rival cryptocurrency ether, which runs on the ethereum blockchain, is up over 2,300 percent this year.
cnbc.com/2017/05/24/ethereum-price-bitcoin-rally.html

Note

BTCUSD parabolic up. Up to 86% of all trades are "buy".

Note

Bought round "5" below schedule right now at 2.700 (8/8).

Note

Bought round "6" ahead of schedule and below schedule price at 2.700 (8/8).

Note

BTCUSD: Parabolic "up":

Note

Bought round "7" at 2730. If BTCUSD might go to 3.000 over night i will continue to sell into this rally by new shortpositions. What everyone can see is that volatility on the up side is extremely high - but compared to BTC history it's just 20%. Thisfore i suppose that the first move down might come fast and quick. On the long view BTC very easy can go up to 10.000 US-Dollar so the risk is rising to short BTC to low. I guess that any corrective move might be triggered by panic selling but might not last to long. This is the idea - this are no facts.

Note

Momentum stalls - what doesn't means anything for BTC. Added one round more ahead of schedule and below scheduled short levels.

Added round "7" - sold BTC. Each positions is opened as "short". I did not traded a lot of shortpositions for a while so until now each trading action more or less was a "buy". I apologize for now using the right terms.

Note

Added round "8" @ 2.700, again ahead of schedule and below scheduled level. Momentum stalls. As discussed before there are only small traders active buying smal peaces of BTC by a 86% buy rate. Usually markets like this going down like landslides if ever buying drys out.
BTC is a special market and has own rules. Whatever might be valid for each other market doesn't need to work on BTC necessarily. In this case i am as a senior trader will be wrong, need to cover this shorts and realize my losses. I guess BTC could have more room still until 3k but not sure. Thisfore i added more shorts now and will add more if we might could the 3k. Depending on this ultra high buy rates of 86% vs. 14% shorts i would suppose that BTC could fall to 1.650 or 1.150. After this time will tell if BTC might go to Zero or to 10.000. Both is possible and i guess everybody familiar with btc knows it.

Note

If ever markets like this turn arround than it will come quickly. This is the one exception if ever i short a market before any top. If momentum is up so high like seen since Monday usually it will be much higher if ever the markets gets reversed.

Note

This was a busy day. End of the day i bought totally 9 times instead of 8 as scheduled. The average price of all shortpositions now is 1.621 USD.

Note

Comment: Bitcoin could see a 47% correction, but some say it's going to $6,000
Bitcoin rallied to a fresh record high of over $2,700 on Thursday.
One analyst said that the cryptocurrency is close to a key level of $2,800 which could signal a correction. The analyst told CNBC that the correction could see bitcoin fall as far as $1,470, marking a 46.5 percent decline.
cnbc.com/2017/05/25/bitcoin-price-correction-record-high.html

Note

Bitcoin plunges more than $300, goes negative after earlier hitting all-time high

Bitcoin hit a record $2,791.70 before erasing the day's gains.
At Thursday's record, bitcoin had gained more than 45 percent in a week and more than 180 percent this year.
cnbc.com/2017/05/25/bitcoin-surges-10-percent-to-all-time-high-above-2700.html

Note

Looks like possible head and shoulders pattern.

Note

Even BTC is showing an impressive intraday reversal bets are unchanged: 80% long, 20% short (cfd´s).

Note

stopp sell order activated.

Trade closed: target reached

Note

BTC short closed at 2.460 or net gain of 200 Points. Momentum to the upside is still there. BTC needs to much attention to trade it.

Trade active

Short 1 position BTC @ 2.490 again.

For me looks like we hat a retest of the former highs and maybe the downmove might start after this retest might be confirmed as "failed". BTC trading is much more challeging than stockmarket trading. There is no quite time, no off time.
I will continue trading with a very small position only and maybe ad or minus more intraday but will not report or comment on it.

Note

BTC after failed re-test (until now) of yesterdays record highs:

Trade active

Wild ride: Still short BTC

Trade active

Crash. Still short BTC, net gain 700 USD each BTC.

Trade active

BTC short almost from the top. Short trade still active. Looks like there is another sharp drop to come sunday night.

Note

Some remarks:

Reading the comments above there are a lot of mistakes. I need to apologize again. BTC is a 24 hours trade, 7 days a week.

- I worte above that i need to apologize for --- "not" ---- using the right terms. Shortpositions never gets "bought". Its a sell at the opening and a buy if the trade is closed. For allmost 12 month i am just on the "buy side". I buy to open a trade since almost one year - now i sell to open a trade.

- The average short position is 2.621 and not like written above 1.621.

Trade active

Volatility remains high. BTC needs a lot of attention to hedge shortpositions with BTC buying in up moves.

Note

Chart is selfexplaining. If the latest upmove is fading next down move to come sunday night. M.o.b.

Note

Comment: BTC - real trades:

88% long
12% short

Source: markets.com/instruments/bitcoin

Note

BTC - real trades:

88% long
12% short

Source: markets.com/instruments/bitcoin

Trade active

Bias: unch, 88% long, 12% short.

Note

Comment: Bitcoin faces growing competition from Ethereum
investing.com/news/forex-news/bitcoin-faces-growing-competition-from-ethereum-490743

Note

ETH rocket straight up: At a certain time there is not enough cash left to pump up several bubbles same time.

Note

Bitcoin, Ethereum plunge as much as 25% as bull party ends
investing.com/news/forex-news/bitcoin,-ethereum-plunge-by-as-much-as-25-as-bull-party-ends-495732

Note

BTC shorted at the tops (Read comments below).

Note

Rumors ...

Is The People's Bank Of China Manipulating The Bitcoin Price?
zerohedge.com/news/2017-06-15/peoples-bank-china-manipulating-bitcoin-price

Note

Bitcoin, Ether Lead Digital Currency Slide From Highs
bloomberg.com/news/articles/2017-06-26/bitcoin-ether-lead-slide-as-digital-currencies-drop-from-highs

Note

BTCUSD: Bubble to burst short term likely. Still short BTC @2.400.

Note

Ethereum crashes 25%, other cryptocurrencies also sharply lower
investing.com/news/forex-news/ethereum-crashes-25,-other-cryptocurrencies-also-sharply-lower-504128

Note

Sell signal: BTC bubble is going to burst further

Note

BTC: Sell off

Note

Ethereum briefly crashes 20% to 7-week low amid worries about rival bitcoin's future
Ethereum leaped several thousand percent this year to a record in June.
Prices have been falling steadily since then.
Bitcoin prices also fell Sunday amid concerns about a potential split in a few weeks.
cnbc.com/2017/07/16/ethereum-briefly-crashes-20-percent-to-7-week-low-amid-worries-about-rival-bitcoins-future.html

Note

Time to resume to short BTCUSD:

Note

Comment: Cryptos - Bitcoin sheds $500 as Cryptocurrency Exodus Intensifies

Quote:

"BTCChina, one of China's largest bitcoin trading platforms, announced that it would cease offering trading services on September 30, citing statements issued earlier this month by the People's Bank of China and other regulatory bodies in the country.
BTCChina will stop registration of new users from Thursday, it said on its official microblog.
"We will stop all trades on the digital trading platform starting Sept. 30," it said. Its co-founder, Bobby Lee, told Reuters the move would not affect trading on the BTCC international exchange, however.
The sharp sell-off in Bitcoin follows growing fears of blanket ban on bitcoin exchanges across China after a statement from The National Internet Finance Association of China (NIFA) Wednesday claimed that “financial and social risks cannot be ignored.”
The National Internet Finance Association of China, a self-regulatory agency, established by the People’s Bank of China, said that Bitcoin “is becoming a tool for money laundering” and warned that virtual currency trading platforms in China are not legally established.
Chinese regulators, however, are yet to confirmed any plan to shut down local exchanges but the statement from NIFA supports recent media reports warning that the decision had already been made."
investing.com/news/cryptocurrency-news/crypto--bitcoin-sheds-500-as-cryptocurrency-exodus-intensifies-529041

SwissView

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

SwissView

Also on: