I pointed out[1] 10 days ago that the Bitcoin had broken through a key support level and anybody trading a similar stock chart on technicals would be looking to go short.
From a purely technical perspective, there's no buy signal (yet).
Catching a falling knife is always a bad idea but seeing them before they fall can be highly profitable. It's just a shame there's no readily available vehicle for playing BTC on the short side.
> It's just a shame there's no readily available vehicle for playing BTC on the short side
In the UK at least there are multiple firms letting you buy/sell BTC Contracts For Difference, including shorting with a 10% initial margin if you really feel like taking crazy risks. (Plus500 is an example)
I have not been buying since I bought at ~300 probably a year or go now. I vowed I would not buy again until it neared 300 OR stabilized for 6+ months (which is hasn't).
Might cash out my short term portfolio and dump it all in if it keeps going in this direction.
7Figures2Commas|12 years ago
From a purely technical perspective, there's no buy signal (yet).
Catching a falling knife is always a bad idea but seeing them before they fall can be highly profitable. It's just a shame there's no readily available vehicle for playing BTC on the short side.
[1] https://news.ycombinator.com/item?id=7500000
vidarh|12 years ago
In the UK at least there are multiple firms letting you buy/sell BTC Contracts For Difference, including shorting with a 10% initial margin if you really feel like taking crazy risks. (Plus500 is an example)
BorisMelnik|12 years ago
Might cash out my short term portfolio and dump it all in if it keeps going in this direction.
I don't want to be kicking myself again!
arfliw|12 years ago
[1]http://en.wikipedia.org/wiki/Dollar_cost_averaging
pippy|12 years ago
It might stabilise now, but my hunch is it will stabilise around the $200 mark.
veb|12 years ago