I provide liquidity of digital assets to scared, impatient people. At a later date, I sell the assets back to them at a higher cost. #BTC #crypto #bitcoin $BTC aus der SternenmitteJoined March 2011
I know most people are super excited about $BTC & alt prices surging lately. Please just be careful
For prices to continue past ATHs, it's very important for substantial volume to come in
I urge you make your own method-based decisions on where you think prices are heading soon
Expecting an obvious, "blow off top" to mark the end of a run is an outdated, "2017" mentality. Back then, a few had a lot & the market was wild.
Coins are more distributed now among sophisticated traders w/ bots.
In that world, Bull runs end in deflation not explosive finales.
In the past 2 weeks, billions of $ worth of longs were liquidated, then billions of $ worth of shorts were liquidated. Chop 'em all up on both sides.
You see those sorts of moves during distribution, not accumulation. The wild, back-and-forth antics happen at the end.
Sending the price down 17%, letting it dangle there for a while & then bringing it up 7% just before new day is a genius way to get people excited to FOMO buy & fuel more exit liquidity to dump into.
Market Distribution psychology 101
My best trading advice is this
-Log off of TwitterX (98% of these people have no idea what they are doing/talking about; following them will cost you $)
-Read as many highly rated, traditional market trader books as you can
-Stay logged off of TwitterX
-Stick to what you learned
I see so many posts about "bulls" and "bears".
Everyone, be real clear about something; the market isn't controlled by either. It's controlled by smart, rich people with advanced bots going both ways, using psychology & your emotions against you, to take your money.
That's it.
Being a successful trader is an odd existence.
When you are "right", the majority are "wrong".
The very nature of wealth moving from the many to the few dictates this.
Have to have a strong conviction in your skillset, perspective, execution & resolve. Drown out the noise.
If I were a whale, trying to effectively shed my holdings into eager buyers, I'd bring the price up just enough to make them think they are losing out, while stopping short of expected resistance.
Over, and over, and over again. Until those liquidity suckPumps dried out.
Yep.
*disclaimer - I'm sidelined
There are so many signs of distribution the past month or so.
Rallies get sold off fast. Volume fades heading into resistance instead of increasing. Deviations of volume/price/RSI growing deeper & on more timeframes.
It doesn't look great out there.
Just to clarify, I am not advising anyone to be sidelined or exit the markets. Crypto may still go up a lot more this cycle
I’m just in a comfortable place, made a lot of money & exercising my own risk management to exit cleanly
—> Risk management & capital preservation are key
I've made a decision. By sticking to my plan from Dec '22, I've made massive profit. This has afforded me the means to acquire property that will reap rewards for the rest of my life
Markets have cycles. Rest assured I'll be back with more capital when the new cycle bottom forms
It's always important to shift your bias if you see conditions that look ready. I still don't trust BTC, but I'm happy for now to profit off a strong ETH
It's always important to shift your bias if you see conditions that look ready. I still don't trust BTC, but I'm happy for now to profit off a strong ETH
The number of days and levels that most major cryptos have been able to hold is impressive.
The longer they hold those levels, the stronger the support and likelihood that they’ll seek continued price discovery.
God help me, I just took an ETH long.
I still think BTC looks terrible and feel it's risky as hell to be in any ALT while big brother balances on a thread,
but
Watching the trade closely. Not afraid to cut it loose if I have to.
ETH does look primed to make a move up.
What (likely) happens next?
Once enough people stop falling for these liquidity Pump_n_sucks, whales will just start the real dumps. No pumps up, just straight market sells.
That'll trigger the domino effect for a larger number of whales & further retail dumping .
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Charts, but no financial advice.
$BTC is for saving your purchasing power.
Everything else is speculation.
( ͡° ͜ʖ ͡°)
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Charts, but no financial advice.
$BTC is for saving your purchasing power.
Everything else is speculation.
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