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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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51142368 No.51142368 [Reply] [Original]

Just started trading & opened my first short at 19900, why it's moving up instead?

>> No.51142423

>>51142368
buy signal right here fellas. Verification not required

>> No.51142434

>>51142368
Close your short. It's already double bottomed off of 19800.

>> No.51142438

close it

>> No.51142454

>>51142434
Yup in a bull market that’s bullish, but In a bear market it’s a trap ready for a break down and retest of 17k

>> No.51142470

>>51142454
We're near the end of a bullish trend since mid-June. The exit pump is coming.

>> No.51142479

>>51142368
because the moment even retarded people like you think to short it is overshorted.

>> No.51142490

>>51142368
If you seriously short after a 20-25% retraction, you are seriously retarded.

>> No.51142502

>>51142368
nah, close it and wait for it to rally to 21k then open a long.

>> No.51142504

>>51142479
There’s still a lot of excite mumus thinking this is the bottom.
Odds of a dump are more likely on a bear market. Trying to predict a reversal is risky.
Both sides possible, one is more likely than the other

>> No.51142522

>>51142504
That's cope. If you are looking for a time to get in it is probably now. The time to get out was 24k.

>> No.51142539
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51142539

>The whole replies
So I guess I keep my short open then

>> No.51142541

>>51142368
Just opened up multiple leveraged longs, See you at 20.8k, Faggot.

>> No.51142547

>>51142522
if you want to swing trade, yeah, get in now and sell after a 5% rally
if you want to buy and hold just save your cash at least until we retest the bottom, then buy some and wait and see if it goes lower

>> No.51142559

>>51142522
Could be! Either way I got stop losses, so if we turn bullish I’m down to switch sides.
Gotta look at both sides

>> No.51142570
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51142570

>>51142368
Bobo I will fucking cut your furry little brown balls off and eat them. We are going to go up.
We have to.
I have to fucking escape this life.

>> No.51142608

>>51142539
Ah, jeez. Good luck, kid.
I'm not holding any crytpo at the moment, so it doesn't matter to me. But this is not the right time to short, even though /biz/ is retarded.

>> No.51142692

>>51142434
>>51142438

Lol at all the baggies telling you to close. The pump we saw the past few months was due to speculation that Powell would pivot and reverse course on interest rate hikes. He literally shit on the bulls on Friday and confirmed that markets are about to tumble. Stocks are going down and taking crypto with it. Once inflation is at a reasonable level (under 5%) I’d jump back in but you’d have to be a complete moron to be a bull right now.

>> No.51142758

>>51142692
I'm a swingie, not a baggie. I already cashed out from this pump and am being totally unbiased, even if I may be wrong.

>> No.51142844

>>51142368
Flashdump Warner warned you it would pump first. See: >>51131488

>> No.51142884

>>51142758
Swing trading during bear markets is fucking retarded. But you do you boo

>> No.51142902

>>51142692
you don't seem to understand how much control the fed has over the markets now. they're going to accomplish their soft landing meme. the bottom is still lower but it will be reached by a slow crab downwards with plenty of small relief rallies. the current fed projections were unironically priced in with the june dump to 17k, it rallied on hopes of an early pivot and crashed again because they've been dashed, but expecting it to plunge much further (for now) is jumping the gun. crabbing/weak rallies until mid-late september.

>> No.51142958

>>51142884
You know that during bear markets, line sometimes go up before it go down further? There are windows where you can long and longer time frames to short. But I guess you know everything.

>> No.51143013

>>51142884
There’s always dead cat bounces when a giga dump happens, assuming you were able to plot out the support levels you could take profits on the support and immediately open a long with stop loss to catch some nice bounce gains.
Short the resistance for further drop gains

>> No.51143411

>>51142368
its gonna scamwick up, liquidate your short and then dump.

>> No.51143513

>>51142902
This is the correct take. 150 IQ here, but maybe mid October.