You can go short and still support the coin you're shorting!!! I hold a bit of Ethereum on the Kraken account I'm using for this tutorial specifically so that I can short it and build up the position! People seem to have this idea that if you're going short you're going against the coin.
Also be, how do you close a short on a Kraken?
You can close a position by executing an opposing leveraged order for the same volume as your opening order (a sell closes a long and a buy closes a short). This re-balances the funds used from Kraken's margin pool, and any profit (or loss) is added to (or taken from) your account balances.
Even more, can you short BTC on Robinhood? You can actively trade with a cash account, but you have to wait 3 days for each trade to settle, which effectively makes it so you can only day trade 2-3 times/week. Lastly, Robinhood doesn't allow short selling. This means you can't short stocks, profit as they go lower, and then buy back shares at a lower price.
In any event, how do you settle a Kraken position?
To settle an open “short XBT” XBT/EUR spot position on margin, you must transfer to Kraken the amount of XBT you sold on the market for EUR when you opened the position. This satisfies your obligation to return to Kraken the XBT that Kraken extended to you when you opened the position (i.e., sold the XBT for EUR).
How do you close a margin?
Sell or close all of the investment positions in your margin account. Place sell orders for your stock positions and buy-to-close orders if you have sold any stocks short. The proceeds from selling your investments will first go to pay off any outstanding margin loan and then to the cash balance of your account.