I have a friend who entered Bitcoin via a 1,000 percent...

I have a friend who entered Bitcoin via a 1,000 percent leveraged long CFD (IG Markets). BTC had corrected back to $7,100 AUD at the time last month. He was stopped out because the stop was set too tight. Now it is trading around AU $9470. He of course regrets that he still isn't still holding the trade. IG are currently not accepting BTC CDF long orders because there are insufficient sellers.

Adrian Tout suggests that BTC will eventually have a fairly large correction back to the ~ U.S. $5,500 area. All instruments do eventually retrace. See chart below:

https://gallery.mailchimp.com/9b05c...ages/ee0136bb-1f9c-4c9a-b7c4-42043aa8b91e.png

https://www.ig.com/au/ig-forex/spot-fx-xbtaud?marketfinder=XBTAUD