/biz/ - Business & Finance

Outflows from BTC ETF as traders wanted to wait for FOMC.
Now there are inflows again.

When a parabolic regime begins on high timeframe, the strategy of being long from the ignition move and then holding until wide trailing stops are hit is best. This is called "long until wrong." I think it is unwise to give up core positions this early.

I don't pretend to know where the top is. But in December of 2020, traders lost their mind shorting Bitcoin at 10k, 12k, 16k, 20k, 24k, 30k as the number kept going up to a mindboggling 69k, well over many people's belief. People either lost their shirt shorting or locked in only tiny gains as the price moved many multiples higher. This is why I am open to astronomical numbers: 200k btc, 100b bonk, or whatever. I'm not saying this is likely. I just don't pretend to know where we go. I let the market show me.

In Dec 2020, I was already making eight figures. But in the next 3 months that followed, I would make 9 figures, as I gassed it where most would exit, and didn't enter my own bias about what the price should be, but rather just allowed the market to do its thing.

The time when it flushed to 55k during the first deep correction (similar to "Jesse Livermore's Speculative Chart"), would have then been the trigger to sell. A trailing stop strategy is guaranteed to give back a lot of gains, but you'll have captured the majority of the total move trading in this way, which will outperform. Of course, I succumbed to the pressure and ignored my own advice.

On the short term, I think we have had a blowoff into memes, it feels like a mini-cycle a bit, and it was reasonable to tp a bit to buy lower. From here, it seems there are too many participants eager to buy dips for there to be sustained drawdowns, so I would generally favor the long side. As for bonk, I have no clue but I honestly think the bonk ape makes it, and surprises everyone.

If you're still on the sidelines, good luck.

We are in "fear" territory. This means BTC is UNDERvalued. America is a country of laws. Anyone can sue anybody. Doesn't mean anything.

I started to long and there is little you can do to stop me.

ETH is breaking out.

>Be me
>Get better at tape reading
>Get better at understanding supply and demand zones
>Get better at analyzing volume
>Realize just how awful bobos actually are

First one to say this: global bottom.

is this binance collapse in the room with us right now?