Mfw shorting 24.5 BTC at $7900~

So you mean that only 1/5th of that BTC is what you paid for, the rest is bought on loans, and you think you'll be able to beat the house and sell at $7175 before it liquidates your order when the price of BTC charges back up to $9k in 2 days?

you think this shit is going to fly to 9k in 2 days while there are 200 million in longs at the moment on bitmex alone?
The bitmex whale has been pushing his 30 mill buy wall to get people to buy into his short positions today just the same as yesterday. what happened then? we got 10% barted down

2 ez

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bitmex is always 50/50 shorts and longs brainlet

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You may be a bear, but you have the balls of a bull amigo.

sure thing

yes, and spread (profit into my pocket) would be around 16k~ should BTC go down

>:)

i am bullish overall my medium term goal is to obtain at least 10 BTC before we lift off into 5/6 . anything over that ill be using for day/swing/scalp trading.

put your money where your mouth is then. Long it now. I have a short opened at 7949. You're delusional to think it's just going to bounce right back up to 9k again

prepare to be liquidated.

You’re going to be liquidated at approx. 11:41am cst. Just a frendly warning ;^)

DONT

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Where's your liq chief?

what are your reasonings for believing that it's going to break 9k at the 3. attempt after getting brutally raped by the resistence at 8,8k-9k? some guy sold 11k bitcoins yesterday, and the same 30 mill buy order wall is getting flexed to get people to buy into short positions. The rug will be pulled again

Keep us updated. Looking good so far.

I'm screencapping this for our our way to 7500

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8k denied lmao, let's fucking go

I think you're gonna hit it OP good luck

You're about to get fucking rekt we're going to see at least 8150 possibly 8250 in the next couple of hours

hodlers always win

This. Sorry bobo

you got that wrong, my friend. we'll see 7750. running out of juice now, and 8k got slammed right back down

Same user here, lowest price you'll see in the next few hours is 7920 if you're fucking lucky. Shorts about to get ringed fucking dry before price continues all the way down to 7k.

I feel bad that you're going to sit there and have that horrible feeling in your gut of being on the wrong side of a trade. Stay safe fren and consider closing your position early to minimise losses. Peace

Nice LARP
Nobody is retarded enough to short such a lifechanging amount of BTC.

>what is leverage

Is anyone going to tell him?

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Yeah already on it

here

By the way, a protip for anons. If you see the orderbook filling all levels like pic related and then clearing them the next second, fucking panic if it's filling the opposite side to your position.

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I appreciate the tip but I'm too much of a brainlet to understand what I'm looking at.

Where can I read about shorts and longs. I don't understand these concepts.

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they're flexing huge orders on both sides, wuz happening

They're securing themselves some nice long prices lower watch

wtf is going on on bitmex

The following

but they're pushing it up with gigantic orders as well? why not push it more down with the gigantic sell order then? you sure they're not filling their shorts here? these huge buy orders are forcing people to market buy their shorts

>being a nigger gambler

I actually own my assets, I'm not a nigger. It doesn't matter how many times you win or how big. You're going to lose it all anyway. Because you're a nigger gambler.

>support the level with massive buy orders
>apply downward pressure with hidden sell orders to kick start shorts
>let go of the level so that the dip causes more panic
>long from the absolute bottom (wick) of the dip
>massive liquidity above from retards shorts just now and previously

Stay salty fucking brainlet

Not sure if i should close my long and open a short or not.

Fuck this rigged ass market

Wait and short from higher

yeah i see. got a long in at 7880 with 1/4 of my stack. let's see if they propel it upwards a bit before they crank it down again

imagine shorting after a giant dump

You are living proof that they're going to pump it, pleas close now and thank me later. No you're not going to get a lower price now after that spike down.

really wanna get in at

I understand all that, but how can one exchange have so much power? There are plenty of other legit exchanges worldwide. Unlesss the entire crypto industry has a lot less liquidity than it seems, bitmex shouldn’t have such outsized influence.

Ppl shorting, who’s btc are u trading with? Are u simply shorting your btc with other alts?

why would i close it now if they're going to pump it?

Ah I read it as short, kek, you're gucci then. Don't get fucking greedy though close out at 8200 max.

i use bitmex. Lots of margin exchanges out there. Most reputable ones are bitmex and kraken i guess.
yeah i already have my sells ready. if it's a quick wick on bitmex you're not getting shit through at all. been there done that

you really think we are pumping that high before another big dump tonight? seems unlikely considering 8000 got rejected that hard

I don't think that a pump is coming, I KNOW that a pump is coming. You don't have to believe me right now anyway, I've got my figures in this thread and the chart will tell your the rest. Also note that I care little which direction it goes in right now, I fully expect a retrace to at least 7.2k and have had a short open from 8764.

a lot more opened shorts below 8k now, forcing them to close them if they push hard towards 8k. I do see a push to close out the shorts happening before it goes further down. Might just be a quick wick to 8,2k ish then straight free fall down again.
They wiped out over 100 mill in longs yesterday, the shorters aren't going to get a free ride down towards 7k

interesting, you guys seem to know what you are talking about, so this is gonna be fun

well, they're experts at fucking the majority of people. the rejection at 8k would have most people open shorts and think it would dip further, the push down to 7880 confirmed their thought process and made them up their shorts even more. And then they switch it around to fuck the most amount of people over. Longers started to doubt and went short, shorters got confirmation and upped their shorts. Now they will push it above 8k to royally fuck both sides that made their trades around those events, then rape the new longers that long above 8k.
That's what i would do if i was a margin exchange

Pretty much this

>target is futures gap down near 7175~
way too ambitious, but good luck

I've got about $18,000 in cash ready to go
do not intend to do any margin trading with it
I have a feeling we will go lower in the short term, when should I enter in with my fiat?
Already have 1btc that I bought at $6,000 and have about 10 ETH
want to increase my holdings
Should I just DCA over the next couple of weeks or wait for a dip and scoop up some more?

I don't think we're done dipping but I don't realistically see it dropping back to $3,000

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>unironically using orderflow on bitmex
Yeah don’t do that looooool. In fact my trading became better when I covered up the left half of my browser window with another window so I couldn’t see the orderbook changing. Orderflow means jack shit with the amount of algos that switch up the entire book’s balance every 10 seconds.

>le (((THEY))) know something I don’t!!!!!1!!!1! meme
The MM’s aren’t some all-powerful force tinfoil hat retard. Your assurance that you KNOW something will happen doesn’t make me believe any more in the probability of price moving either way, rather it only lends further confirmation that you don’t know wtf you’re talking about.

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Gonna be holding onto my 1 coin thank you very much. I know what I got

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i never understood what that pink thumb looking thing is

it's a great indicator that a big movement is going to happen. They don't casually just flex with 30 mill walls on bitmex.
I agree that basing your trades off of what you see in the orderbook is retarded, but huge orders like the ones earlier today and yesterday have appeared before a big movement

Camera man blocking the license plate

what's wrong with his finger and why is it pink

just dont tell him lmao at least someone get liqui

Niggermex is such a scam

OP here... dump has started ;3

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Smells very summer in here

op made btc go to 7660

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Well done mate. I've been short since 8600 waiting for this dump. Think we could go to 6k over the next week but will close most at 7.2

uh oh.. just made another 2 grand in literally 2 minutes hehe

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Stay poor nigger, thanks for the free money

Thats pretty good.

Meanwhile i'm still stuck with my 10k stack. How do i turn it to 100k?

thanks my man. agreed, i think 7.2 is going to be a meme bounce.. and then the real blood bath should begin some days after that.

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Leverage-niggers don't actually own anything. It's like they bet the exchange 1:100 that the price of rice is going up 10 cents next week. The exchange doesn't own that rice either. They all just have debt to each other. Same in the precious metals market. Fake markets set the price, until they inevitably collapse.

Ok so I'm still long and I'm down a lot do i cut losses or what?

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We're probably going to hit between 7100 and 7250 and go up from there.

At the very deepest? Possibly 6500, more likely 7300. Anywhere between those seems good to me. I mainly bought LTC at around 45 though, swing trading is dangerous so close to a megaspike. There's no guarantee it'll come down very far after the media starts their circus.

Congratulations OP

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>when the price of BTC charges back up to $9k in 2 days?

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ty, will keep my eye on it and get the cash lined up and ready

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lads, will it dump to 7300 today/tomorrow? really wanna buy right now

looks like a skateboard

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Also wondering

Bobo's been calling the top since 4000, broken clock something something

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>already going up
please tell me it is just a bear trap

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it probably is a thumb- a pink guy holding up a picture of a boomer's dreamworld

300 btc sell order on binance, going to be tough to eat through that

Everybody says we're gonna dump to 7200-7300, so we probably won't

i was here for the beginning of the 30yo boomer meme, and even i missed the meaning of the finger thing. is there any backstory? pictures of boomers with their cars on /o/ who have fucked up hands and improperly-adjusted white balances on their cameras trying to block out their license plates?