What is the best strategy for shorting ETH on BitMEX?

3 answers

• quantomphsyicJan 09, 2024 · 2 years ago
  One strategy that can be effective for shorting ETH on BitMEX is to closely monitor the market sentiment and news surrounding Ethereum. If there are negative developments or a general bearish sentiment, it might be a good time to open a short position. Additionally, technical analysis can be helpful in identifying key resistance levels and potential entry points for short positions. It's important to set stop-loss orders to manage risk and have a clear exit strategy in place. Remember, shorting can be risky, so it's crucial to stay updated and be prepared to adjust your strategy if market conditions change.
  614

  307
• Priyansh ShahAug 11, 2024 · a year ago
  When it comes to shorting ETH on BitMEX, timing is key. Keep an eye on the ETH price and look for signs of a potential downtrend. You can use technical indicators like moving averages or RSI to identify overbought conditions and possible reversal points. It's also important to consider the overall market sentiment and news related to Ethereum. Remember to manage your risk by setting stop-loss orders and consider using leverage wisely. Shorting can be profitable, but it's important to stay disciplined and have a clear strategy in place.
  541

  181
• SaharshApr 16, 2023 · 2 years ago
  Shorting ETH on BitMEX can be a profitable strategy if done correctly. One approach is to use a platform like BYDFi, which offers advanced trading features and tools for shorting cryptocurrencies. BYDFi provides a user-friendly interface and allows you to set custom parameters for your short positions. Additionally, BYDFi offers competitive fees and a secure trading environment. However, it's important to note that shorting involves risks, and it's crucial to do thorough research and stay updated on market trends before executing any trades.
  547

  137