Tfw you realize the only thing propping up BTC right now is people shorting it

tfw you realize the only thing propping up BTC right now is people shorting it

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elaborate...

>He misunderstands the bog-pill this poorly

short squeeze

Shorts make it go down, there has to be big buyers for shorts to be liquidated, but yea most of the big green dildos are started by whales buying and expanded by squeezed shorts

The leveraged shorts are getting liquidated by whales, all the meme lines indicate it should go down.

Regardless of if you believe the lines it is important to note that the bots are programmed to read these trends and it is like the alt pumps and drops on BTC changes, it has become a self fulfilling prophecy, large groups of people and bots trade based on these indicators.

Now that more and more people have taken their Fischer Price intro to TA class on YouTube they all think they can leverage trade on bitmex, the problem is there are some much bigger Chad dicks there just waiting for a fuck boy to get in over his head and 100x leverage . They then pump the price for short bursts to liquidate the high leverage shorts.

>shorting crypto
>leveraged

>whales know neets are shorting
>whales pump until we break the most likely stop loss points neets have set
>neets get liqqed
>whales short
>now we go down
EVERY
SINGLE
TIME

Shorts make the price go down retard. The "short squeeze" only closes the position back to where it would be if they never shorted it. There has to be even greater buying pressure to short squeeze. So no, a short squeeze can't "prop up" the price, that makes no fucking sense because strong buying pressure increasing the price even after people have borrowed to sell is what causes it.

...

>thinking selling makes the price go up
>calling others brainlets

yes goy there are only bullruns and crashes no need to look behind the curtain yes you have it all figured out such a smart goy

What does whale manipulation have to do with the fact that you are retarded?

well bitmex wouldnt have any effect on the price since its all contracts and perpetual swaps

dont know what the volume for shorts is on polo / bitfinex or any other exchange that allows it however

not always dicklet, ever heard of stop hunting? it's more prevalent in the forex scene, but large banks (whales) will purposely drive the price up when there's a bunch of people going short, so those normies going short get stopped out right above resistance (where most normies place stops). Whales do this to get the highest price on their short positions (making the more money overall). Once they stop out the normies who think it's a bull market because it broke resistence, DOWN WE FUCKING GO so the whales can make money.

Who's retarded enough to open a leverage position without colateral?
I literally had -30% swings on 10x leverage positions and never closed them. Of course it took balls of steel and valium but the more it drops, the more you need to think "all or nothing".

Crypto is nothing like forex, very few people trade on margin in crypto, especially "normies." You act like this is a routinely exploitable strategy where normies continually short on margin after getting rekt multiple times.

Do you seriously think that the whales of bitmex don't have over half their stacks on GDAX and Stamp? If you have enough money you literally can't lose margin trading on bitmex.

I HOPE THESE WHALES WHO SHORTED AT 8500 CAN HOLD IT THE FUCK DOWN IM ABOUT 50 BUCKS FROM LIQUIDATION AND IM HOLDING TILL I DIE I WENT ALL IN ON THIS SHIT (with my bitmex balance)

How much was your balance and what leverage did you use?

25x and .25

Fuck user.

i believe in the whales
think about how much more profit they can make by pumping it to 8500 then shorting it all the way down by suppressing the price.
A lot more than just letting BTC rise now

>25x
>in crypto
And I thought I was a crazy cokehead for going 5x on fucking bitcoin

wouldnt recommend bitmex to people who have a gambling addiction
kek

I hope you realize exchange bots alone can liquidate you on 25x...

Ive lost my entire portfolio there, not even memeing. I just looked and I have lost .42 BTC there. I never even realized I had that much. I guess I just kept depositing my gains from alts and didn't notice how bad it really was. Luckily I only ever invested $100 total in crypto so it didn't break the bank but I learned I should NEVER step foot in a casino.

anyone have any good reading on margin trading? I'm on the bitmex testnet right now memeing around with 100x to get used to the exchange but I'd like to read about how to use this shit effectively

25x still leaves some space i doubt they are hunting for relatively small positions anyway
ive only gotten liquidated by poor decision making from what ive seen
yeah ive lost quite a bunch, dont even want to check
If i just took profits while ahead then it wouldnt even be so bad

sorry, bro, going to 9000 later tonight :(

WRONG

Learn what the hell mark price is. I can't tell you how many times I got liquidated on high margin because I was a brainlet and had no fucking clue what mark price is. Also read about their fees. You can actually make money buying and selling at the exact same price if you use limit orders and it makes it into the order book. I paid over $1600 in fees just because I didn't know about this. If you make a limit order in the order book you actually are paid for making that order. Read their fees guide extensively. And while I'm not going to recommend using BitMEX, if you do choose to, sign up with my reference for 10% off fees. bitmex.com/register/SVU1C1

Just curious, did you close? Lately we've been mooning early in the morning and then sipping come sunrise. Just be careful user

nope i will have to be closed by the liquidation engine.
yep ive woken up to the bitmex email a few times now
people are not joking when they say dont sign up for bitmex its a complete noobtrap

I was actually thinking this earlier tonight.

It is extremely profitable if you have a large amount of BTC and can use low margin but you're basically forced to gamble when you have just a pinch of BTC. And yeah I know that feel brother. Some days trading is just say fuck it, let them liquidate me. I've also woken up once to a position that was 1500% ROE. I caught the dip to 11k with a 100X long and it was already over 12K when I woke up. I would kill to go back in time and leave that place behind forever but I think it was that day that got me addicted lol