Recently came across this article by @ alanmasters and I decided to share it with my readers, most especially you.

He proposed a potential profit opportunity shorting Bitcoin on Bitcoin Mercential Exchange(BitMex).
BITMEX:XBTUSD5114.5 −325.5 −5.98%Bitcoin / US Dollar Perpetual Inverse Swap Contract

Continue reading to get the main gist of his trading tip.

Bitcoin ( BTCUSD ) just had the first strong drop in quite a while, but this is no surprise, we were expecting this… Here you can see our previous analysis here.

Now, the question is this, how much lower can Bitcoin go?

We are looking mainly at EMA100 on the daily time frame, but EMA50 goes first. I would say our next stop goes at $4680 depending on how the day closes, but this retrace is just starting and it can take a while to fully develop.

Here is our latest Bitcoin ( XBTUSD ) trade:

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Trade: SHORT XBTUSD

Leverage: 10X

Buy-in: $5400 – $5500

Time Frame: 1D

Targets:

(1) $4970
(2) $4710
(3) $4500

Stop Loss: Close 1D above $5650.

Liq. price: $6029
(Buy-in calculated at $5460)

Profit Potential: 213% ROE

Capital Allocation: <10%.
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Disclaimer:

9jaCashFlow or any of its partners will not be responsible for any loss or profit that you derive from any trading tip. The News and Trading Tips shown on our platform are only for educational purposes. Trading the financial market can result to incredible loss especially if you don’t know what you are doing. Always consult a professional investment advisor.