We could see a bear market last for 10-20 months after 2018 starts, not a good prospect.
It was clear to me that as investors seek to benefit from the airdrops in Bitcoin , they would start buying BTC with all other alts, and cover shorts to do so. For example, the Bitcoin Gold fork, would force investors to withdraw funds from exchanges. In the case of the 2x fork, Bitfinex already claimed they will grant you a balance in the new fork once available, for all spot and margin holdings you may have in BTC . This can create a lack of liquidity and a rush to buy BTC , with all you got going into the snapshot date, and given the enormous short positioning we had, a short squeeze rally, which I think already started. It's probably accurate to say very few -like us- saw this coming.
Best of luck,
PS: If interested in benefitting from my insights and trade reccomendations on a real time basis, message me for access to my trading services.
Significant chance we topped...I went short, had a stop hit first but reshorted at 7000 give or take. Lost like 1% on the failed short first.
We entered a difficult to trade phase again. It was a walk in the park for me, since we bottomed at 3000+-
Better have a proper methodology for this.
As to having a trading methodology, that is something I really need to dig into deeply. I'm not a trader myself, but highly interested. Made a few not so successful attempts in the past, basically due to lack of knowledge and not having any plan...
Start by checking out the 'Key Hidden Levels' chatroom here: https://www.tradingview.com/chat/#c8BzrhGRvXxGXWnJ