BitCoin Still Bearish

While we are in a bullish wedge, it is going to take a while to play out.

I'm predicting a drop to around 6600 before it starts going up.

The way I'm playing this is Dollar Cost Averaging. Just buying 0.05 BTC a month. Half of it goes to BitFinex where i short BitCoin with a stop-loss. So, if it drops, i make money. If it goes up, i get stopped out... and i still make money. Kind of a weird setup, i couldn't do this with stocks.

I wonder if this will work....

評論:

>Half of it goes to BitFinex where i short BitCoin with a stop-loss. So, if it drops, i make money. If it goes up, i get stopped out... and i still make money.

So, it doesn't really work. What happens is if BitCoin drops, i don't lose as much, and if BitCoin goes up, i make money.

So for the above to work, i have to put all my BitCoins into BitFinex and do 2x leverage on a short....

Unfortunately, putting your coins in an exchange is risky as the exchange might get hacked like Mt. Gox and then everybody loses their coins. So not sure what to do. I wish there was such a thing as an unhackable margin exchange....

Oh well. Need to think about this some more.