Wish you the best of luck. Are you going to short while BTC is falling? I did that and my advice is watch your leverage. I had a margin call at X5 leverage that wiped over 50% of my entire portfolio. If it was X4 I would have made a lot of profit. While I was asleep BTC had gone just enough to trigger a margin call and came crashing down. It seriously made me rethink my life. I was looking at a chart taking a dive in the morning while my position read: liquidated.
Gladly I'm a kid who gave the finger to college and I'm living with my parents.(They don't even know what the hell I'm doing.)
Sorry to hear that. Huge corrections are what kills most traders in cryptos. That is why you end your trade after wave 3. You can always jump in again after wave 4 only using the profits of your last trade.
Yes I will short it with x2 leverage. Once BTC has fallen substantially, I will double that leverage after a wave 2 or 4.
I will only short it though if @heajin's and my count confirm the top.
Good advice. Which exchange do you use for shorts? I use Kraken.
I did not know that you could profit from shorting coins on kraken. Will take a look into that.
No I use the BTC CFD (contract for difference) that my broker offers in germany. Therefore I am not shorting real BTC, but a derivative that runs very close to the BTC chart. This is not allowed in many countries as far as I know.
Kraken has margin trading with X5 leverage for ETH and BTC.