Hubert Senters here.
There’s been a lot of talk about Bitcoin where it’s going so I’m going to do a little bit of quick analysis for you.
This is Bitcoin futures. It’s trading on the CME. This is not Bitcoin straight Bitcoin futures. You could use this to hedge your Bitcoin portfolio.
So let’s say that you’re long a bucket load of bitcoin or a handful or maybe got one a little tiny fraction of Bitcoin.
Obviously, it’s pulling back a little bit so you could either short another Bitcoin and your same account wherever you’re trading at.
You could short one in a different account somewhere else. That would work. If you’re long $10 and and you short $1 then you have $9 that’s not going to work. You just sell it.
So you have to open another account and you could hedge with another Bitcoin account somewhere else or you could hedge with the futures.
In other words you could short the futures and as Bitcoin is going down you’ll make that money and then when it stops going down and bounces you could cover your futures for a profit and also ride your Bitcoin to $500,000 or wherever people think this thing is going to go.
And I’m speaking from experience. I own some Bitcoin and I own some ETH. Here’s what I would wait for. You almost have a 10-minute buy right here so around $32,500 will be the 10-minute buy signal.
And then that’s aggressive. If you’re a little bit more conservative you might want to wait until it gets around anywhere from $35,000 to $36,000 on an hourly buy signal.
It went all the way to the standard line and it’s trying to bounce there. We’ll see in the next few days if it holds but that would be my strategy.
Good luck. Hope it helps. See you on the next video.
Hubert.
