Long vs short position applicable in both forex and crypto market, long term and short position mean in forex and crypto market means u can buy or sell how much % in points movements affects your profit and loss positions.
In a bullish market traders are optimistic and expects prices to rise and make money by going"long" . The trader take a long position and buy a currency pair hoping the price will rice.
Bearish market likewise in bearish market the tarder is pessimistic and expects the fall in price and make the money by going short, in short position a trader sells a currency pair hoping the price to fall considering the prevailing situation in crypto market , the prices of almost all virtual currencies showing in red , traders dealing in cryptocurrency may take short positions for immediate gains.
The bitcoin chart shows that it has broker the support again which was at 8412 and is trading at 8360 , if the daily closing is below this area then we might see more downside upto 7842, the traders may take short position by selling bitcoin at current rate and it is recommended to use 10% of stoploss if the prices go in other direction. the trader should close the position by taking into consideration of desired rate of return if the price falls from this level, usually 5 to 6 percent is desirable rate of return if you are choosing a short position as the market are highly volatile, dont forget that ur money is at risk in all type of trading,
If you earn on these trades you may re invest the agins in steem as the steem is trading at it 2.67 and is down by 28% in 7 days. If bitcoin recovers the chances are that steem will also recover and will rise again, however if the price remains the same we have alter nate coin steem in ur wallet and will be in a win win situation.
There is an event coming up tomorrow dont forget to read this post before making ur decision
Remember that this is not an investment advice.