I booked Huge loss
Yesterday was the worst day in my entire cryptocurrency experience because I booked a huge loss of $115 which badly affects my wallet. As we see that Bitcoin is taking a continuous pump making another all time high.
When the price of Bitcoin was at around 77,000, I thought it will be a good time to short because it will surely reach its previous support that is its previous all time high.
I opened a trade of around $4000 with future grid strategy and open a short position and thought to close at 69,000.
My liquidation was at around $4,000.
As soon I opened this trade, I noticed that Bitcoin continuously pumped and reaches the level of 80,800.
I thought that I must close this trade because Bitcoin is continuously pumping, which means any big institution is continuously buying.
I booked my loss of $115 at around 79,700.
This is good that I booked earlier and we see that price of Bitcoin reaching the level of 81,500 and if I had hold till now I must suffer with another huge loss.
This is really my bad experience in crypto trading with Bitcoin trading and unfortunately it ends with a huge loss.
That is why this market is always unpredictable and it can go either side.
Therefore the spot investment remains the safest one.
THANK YOU!
it all depends on the analysis you used before entering in to market. I think if at all you knew where Bitcoin turning point was, you would have made a great difference in your trading career. As for me I will advise you not to trade this month wait till next year you will recover your lost