Did anyone short at the $9k high? This looks menacing

see the green spike while volume was declining. There you have the prove, that bitmexican is selling info on high leveraged shorters

He got liquidated because he shorted at 9070 but BTC hit 9083 with 1mil+ contracts so I am guessing he used a ridiculously high leverage and got REKT

Excuse my illiteracy, but how do I get that leverage? When you talk about it, do you talk about bank loans or do you refer to another thing?

Certain exchanges allow you to borrow money to trade with. It's a great way to make and lose money.

somebody shorted at around 9k with very high leverage
the price then jumped to 9070, liquidating him (his position was 1.3m bitcoins)
The price peaked at 9084, before dropping down to 8705.
That guy would have made millions of dollars from his short if his liquidation price was only 15 bucks higher

>shorted at 9070
>liquidated at 9083
How the fuck?

The worst part is he wasn't even wrong and would've made 4x (I think?) in a few hours after that if he hadn't been so unlucky.

yah, this is why biz is shit, just circle jerk to reinforce their $250 blockfolio moon mission dreams

>tells everyone that if it breaks 9.4 k resistance that we are going down to roughly 4-5.8k
>faggot
>tell misct that this is a bull trap and to short at 9k
>haha faggot you bought high and sold low
>tell misc that we will test double bottom and prolly hit 5k
>stfu faggot, its mooning now, 8.1k resistance is strong

0 hope for this board

Somebody please explain shorting to a low IQ retard. Where can I go to short? What is leverage? What is shorting? All I know is that people short when they think bitcoin will drop and they somehow make money off of it.

Interesting, thanks.
What kind of interest do they have? Is it necessary to associate it with a bank account to receive a loan? What is the maximum loan that can be requested?

Shorting is selling your trading your coins out just before you predict the price to drop.
You then profit by rebuying in when the price drops and hits what you predict to be the bottom.

It's a common tactic of bear-minded investors.

he opened his short somewhere in the high 8900 range
someone pumped the price with the goal to liquidate any high leverage shorts in that region before pushing the price back down
he would have been up by over 10 BTC if he hadn't been liqed

no, you deposit BTC into BitMEX
look up the terms "Margin Trading", "Leverage", and "Margin Call" on Google

There's no way. Bitmex only allows x100 leverage and 13 dollars is not enough to liquidate. I think what that means is he shorted from say 8800 or something then got liquidated at 9070

If we will truly dip to those ranges it will open a lot of people's eyes here. I used to be a 24/7 bull fag but being open minded and unbiased makes fluctuations fun and rewarding

>no, you deposit BTC into BitMEX
And what meaning leverage in this case then?
in that case I'm not getting a loan from anyone

Basically if you open a long at 9k you are basically betting that BTC will increase. If you throw in a 2x leverage and BTC hits 4.5k you get liquidated but if BTC increases you get double the money

Looks to be heading below 8k

>If you throw in a 2x leverage and BTC hits 4.5k you get liquidated but if BTC increases you get double the money
So you’ll get liquidated at 4.5k, but at one point do you double your money with 2x leverage?

Why would someone want to liquidate some other trade? How does he benefit from it?

loads of people here are 16-17 yr olds with 200 in their blockfolio, they think TA is a meme and that bull markets last for years.

Btc was consolidating its price for 2 years before this massive bull-run, we wont see 20k for a while. Crypto isnt different to any other market, its exactly the fucking same, just way more volatile which makes it highly rewarding.

Realisticly, BTC can go sideways for a few months - years before we see anything resembling a bullrun and in reality, you really DO want it to move sideways for a long time because the longer the market moves sideways, the bigger the return we can expect.

>tfw went to bed last night thinking it'd still be around 9k today
>mfw

I should have closed my trade, I didn't expect it to dump before sunday

>How does he benefit from it?
The exchange loses money every time you bet correctly, and they get money when you get liquidated.

If it goes up bainlet

>If it goes up
At all? If it goes up $1 you get double the money?

But wouldn't the exchange loose all credibility by playing it this obvious?

Only retard didn't short at 9k, it was obviously the top. Just take a look at BB, RSI+Stoch

Was $4 from a 5x all in getting filled

You retards keep saying it will crash anytime now but it just keeps going up, you're all keeping from getting back in the market.

2 x $1 = $2 profit

BTC has dropped like 500 dollars in value today user.
It's getting dangerously close to the 8k support line, if it keeps going down like it is right now and breaks that 8k support, dropping into 7k prices then people will begin to panic sell, causing the price to drop even further.

it looks that way but breaking up from here would screw over a lot of shorties. the market likes to deceive and hook in suckers both long and short

when the exchange forces you to liquidate a short during a margin call, you have to do it by buying the security in question. so if you have a lot of money, and you know what the other guy's strike price is, you can buy bitcoin until the price goes up, then sell him the bitcoin at that higher price when he gets liquidated. classic buy low sell high

en.wikipedia.org/wiki/Short_squeeze

if it goes up from here, 8760-ish might be a good spot for another short attempt.

Ahh. Okay. Shit, this is better than a casino.

till we break that lower trendline, were going up

we will hit 12k soon

dont say I didn't warn you- the inverted head and shoulders looks massive. We will blow through 9k by tomorrow night at this rate.

We won’t hit 12k for another 2 weeks. We will see stagnation and a slow crawl to that point.

When Buttcorn increases 50%, yes, you double your money.

100% you stupid fuck

here's a tip
When it's riding the bottom of this trend line like this it's almost guaranteed to break downward.

except we went to 9.2k so most of the faggots got liquidated before we dropped down again

you dumb niggers are going to lose everything trading on margin

...

>Short at 9k
>Liquidate at 9k2
Did you short with 100x or something, and by the way, highest on bitmex is like 9085, faggot

Called it

breakdown confirmed on high volume

Looks like we're going to have a run on this sell wall, should be interesting

still didnt get it

ackshully it did hit around 9.2k for about 10mins

No, I get what he’s saying. 50% with 2x leverage.