Good day peeps hope alls well. If you are a trader in Bitmex 250% at 100x is not awesome deal, more so you'll be looking at 5000% or so. But for the rest of us who are new 250% is still quite decent. Well the previous post though i was bullish at $7.5k zone my instinct said we still have more downturn to come and then i went on to short @ $7577 & now the price is ~ $7400.
If you had bought say 1 Bitcoin in Coinbase and just left it there you would have lost $7577 - $7400 = $177. However if you were to send you Bitcoins from Coinbase to Bitmex and did a short at say $7577 @ 1x leverage you would have made $177, more so if you did @ 100x leverage you would have made 177*100= $17700 worth in Bitcoin.
But its a good idea not to do a 100x leverage as if the price goes against your call, you will get liquidated even faster haha.10x would be relatively a safe play.
Analysis
We are at a support level right now ~7.4k and we haven't break the ~7k level yet & the sell strength from the peak at $18k seems to be fading away as we have lower sell strength.
However we have a chance to go down as 4k too. So as of now i just closed my trades and am going to get some sleep. I also need to discipline myself from taking too many trades & as they say let the price come to you...
Hope this was helpful and informative peeps and do sign up to Binance for trading/buying crypto & in IC markets to trade crypto/usd pairs in MT4. Also consider using BITMEX and try your luck at 100x haha :)
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Bitcoin : 1EDEU9A9D1pJYGkM8JaEEUgdH7U8yUNeXp
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