With that said, I will be buying if we break out of the previous high because at that point, I believe the short side liquidations will take us to around $7,000. We must wait for that breakout first.
I am still expecting to go to $5,000 however, so don't expect this bounce to last forever. If bitcoin doesn't break out, I am a buyer at the $5,000 level. That will be a very low risk entry.
That's it guys!
If I have been helpful, please like my work and follow me, it helps us both.
-YoungShkreli
הערה
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INCREDIBLY USEFUL ANNOUNCEMENT - MUST READ
since I will be gone, I want to show you guys the equation for calculating VaR with 99% certainty. VaR = Value at Risk
The equation is: 2.33*5.03*position*sqrt(10)
2.33 comes from the normal curve (bell curve) 5.03 comes from bitvol.info/ - this is bitcoins high daily volatility avg 10 comes from: 10 days (the most I will be gone for) position is how much money you have into this
What does this say? It says: "I am 99 percent confident that bitcoin WILL NOT lose more than 36% of its value in the next 10 days."
This translates to: "I am 99% confident that bitcoin WILL NOT fall below $4167.68 in the next 10 days."
This is a professional tool that you should all use. Note: this only works for a portfolio with one asset, to calculate for more than one you need a slightly different equation.
USE THIS TOOL PEOPLE - ALL PROFESSIONALS IN FINANCE USE THIS TOOL
הערה
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I can use this information to make leveraged orders near $5000 that will make me a lot of money by the time I come back. I don't even need to be by a computer. I can make a lot of money while I am sleeping. This is a seriously CRUCIAL tool people. Please use it.
-YoungShkreli
הערה
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I'm expecting a ton of love for sharing this information with you guys. YOU BETTER ALL FOLLOW <3
הערה
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CORRECTION:
5.03 should be .0503 (it's a percent)
הערה
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Looks like I was right about the breakout afterall. My trade was automated so I don't remember what price I went long, but I know I am long and in profit, so I might take a moment to check on that. Hope you all made money like me - while not checking the price! I will be back in a couple days. Good luck everyone, make sure to like and follow to get the good updates.
In today's Bitcoin analysis I discuss the ProShares ETF decision, the bullish and bearish setups on multiple time frames and price contraction clearly looking for a big break in either direction, August 23rd is the day to watch:
theeverythingbubble
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One post you're bullish another your bearish? Here's my call back on August 1 ->
CantorTechnologies
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@theeverythingbubble, I mean, that's how bitcoin is hahaha. I am bullish long term, bearish short term. I am not short right now though.
-YoungShkreli
RageGear
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but the equation works only if u die sqrt(10) otherwise the number is weird...or maybe I didn't get it wright
RageGear
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*add
CantorTechnologies
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@RageGear, Maybe you interpreted the number wrong. I went ahead and did the next step with calculating the percent. But, that equation gives you the maximum dollar amount risk your position has. You definitely don't add. The equation is perfect save for the error I corrected in the comment. I use the formula all the time to manage risk and everyone else in finance does too. Very good stuff.
-YoungShkreli
CantorTechnologies
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@youngshkreli, For example, if your position was 100, with shit hitting the fan, you could expect to have 64 left.
Gino
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OK fake Shkreli :-) thank for the tool, too late i need to go bed, will concentrate on it tomorrow.
CantorTechnologies
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@Gino, The guy in jail is the fake Shkreli. That's why he is there. I am the real Shkreli. William fucking Shkreli... uh, I mean Martin...
-YoungShkreli
BCryptological
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Thank you for sharing and look forward to your return!
In today's Bitcoin analysis I discuss the ProShares ETF decision, the bullish and bearish setups on multiple time frames and price contraction clearly looking for a big break in either direction, August 23rd is the day to watch: