I agree with you. I hope the S.E.C. approves options trading in GBTC as soon as possible because I "prefer" to limit risk via an options trade. Did you make your sell call on BTC because of the chart of "actual" bitcoin prices..or by following the chart of that OTC bitcoin proxy you found? I think you are on to something but it still takes guts to go out on a limb and outright short shares. Make sure you use zero margin if you do that...trade only the cash market...but still. Let's get these exchange traded bitcoin proxies to market as quickly as possible. You can monitor sentiment via watching and tracking GBTC...I know that for a fact. I'm also tracking BTSC but haven't checked it in a while as I know it goes to a new 52 week low ...based on what it did during the selloff from my short at the .20+ high. I have a blog on BTSC too but I see they just ramped it again so I guess I still won't be watching it for awhile. Selloffs do come quickly though once the alarms start sounding. You have become your own bank...by shorting bitcoin! You "could" end up being a "legend" here if you aren't careful. :-)
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I would love to become a legend here😎.
It is the thrill of making good trades and showing off what I learned, which makes the writing about it so exciting for me.
I am making all of my trades only based on the real BTC chart provided by bitstamp datafeed. But the CFD chart is very close to the real one which I think is unusual.
I can't track CFD via my charts so I will stick with tracking GBTC. I think your payoff on your short will get you so excited that you will forget to scream >>> "Buy the pullback!" as BTC trades sub $3500. For those who don't trade and just HODL. If you do actually HODL til you lose 50% from your buy at $4000+...here is a blog where you can voice your feelings about how long you would HODL in oreder to get even on your last buy.
https://steemit.com/hodl/@joejustjoe/meaning-of-hodl-on-7-30-17
Just store that link in case you need it...gulp! :O >>> :-)