Crypto trading

[jaygreenb]

The bounce would be ahead of the Super Bowl and crypto ads being seen by the largest TV audience of the year.

The emergency Fed meeting Monday is going to nuke it most likely.

Yeah, Fed meeting could make things dicey can't imagine it being positive.

 

[SargeMaximus]

Bitcoin is such a good hedge

 

[jaygreenb]

Bitcoin is such a good hedge

It has been for me maybe try not shorting it

 

[DEEZEDBRAH]

Market with a strong movement yesterday but to me, it looks like a bull trap for a few reasons.

1) Asia trading volume has been muted all week due to Chinese New Year celebrations and has not fully balanced out US and EU hours. Asia is fundamentally bearish and has killed many a rally over the last year. In fact they actually crunched numbers and proved it...US and EU were either positive or neutral over all timeframes and Asia was bearish over all time frames they look at.

2) Huge move Friday was more based on news from US jobs and earnings reports. These moves not based on fundamentals tend to be fleeting and once the excitement fades away after a few days it returns to fundamentals.

3) This is a very strong zone of resistance and price has never progressed through this zone from beneath it without correcting back down to the range lows first. Then it breaks through on the second attempt. Or it breaks down further from that zone.

4) Until 42.5K minimum is flipped and held as support, this is simply a bearish retest. People FOMOing right now are going to get rekt late tomorrow and into Monday. Current daily candle is a Doji which is a reversal candle.

I am not opening any positions today, will look to go short late tomorrow night and Monday should be a bloodbath.

I still think like you said. Bull trap.

Basically everyone who was short got rekt on Friday. Now everyone thinks it's going moon and they all went long this weekend. Almost no shorts left to liquidate, but 24+ Billion of longs to liquidate by going down. Since market makers only care about grabbing liquidity and not the price, there is almost no way they leave 80x or more liquidity to the downside untouched.

Expecting initial move up to liquidate remaining shorts then back down hard to liquidate longs

It's definitely not a game for anybody weak in the knees.

I'm playing the game a decade out. Still got dry powder on the side. I admit I got greedy and held out assuming btc was going far lower. I'm seeing the same thing last year when btc hit 29k. I thought it could go lower. F! I'm learning slowly.

I don't have to throw everything and the kitchen sink. I could DCA a bit or a lot. Even a bit at different times a crash occurs. I can't time it. I've tried lulz!

Any crypto resolutions for 2022? Get more is mine obviously but less deadwood. Few projects and the fastest racehorses.

 

[DEEZEDBRAH]

Yeah, Fed meeting could make things dicey can't imagine it being positive.

I want to go on a shopping spree. Too much dry powder isn't good.

 

[jaygreenb]

I want to go on a shopping spree. Too much dry powder isn't good.

I am in a similar boat, sitting in a lot of cash. Am slowly adding to positions but want dry powder if we get a crash. I have a good chunk in usdc earning 8% interest just to offset inflation.

 

[BackInTheGame78]

I am in a similar boat, sitting in a lot of cash. Am slowly adding to positions but want dry powder if we get a crash. I have a good chunk in usdc earning 8% interest just to offset inflation.

Been shorting obvious rejection points the last two days...$AVAX at 95, $GRT at 0.50, easy money. Targeting the 0.5 Fib Extension minimum and then potentially the 0.382 from there depending on what happens.

 

[jaygreenb]

Been shorting obvious rejection points the last two days...$AVAX at 95, $GRT at 0.50, easy money. Targeting the 0.5 Fib Extension minimum and then potentially the 0.382 from there depending on what happens.

What exchange are you using for that?

 

[BackInTheGame78]

What exchange are you using for that?

Kucoin Futures

 

[DEEZEDBRAH]

I am in a similar boat, sitting in a lot of cash. Am slowly adding to positions but want dry powder if we get a crash. I have a good chunk in usdc earning 8% interest just to offset inflation.

Same. I'm thinking not if but WHEN. To hedge my bet, I just DCA when it crashes. I won't try to time it. I missed it last time thinking it would go lower. Getting some on a crash and more if it drops. I'm not sure when. Playing the waiting game.

 

[BackInTheGame78]

Same. I'm thinking not if but WHEN. To hedge my bet, I just DCA when it crashes. I won't try to time it. I missed it last time thinking it would go lower. Getting some on a crash and more if it drops. I'm not sure when. Playing the waiting game.

Still in my $AVAX short...increased it to 96.05...printing right now...GRT from 0.501

 

[BackInTheGame78]

Shorters and scalpers paradise out there today...

Big shorts this morning followed by obvious bounce areas for quick scalps.

 

[DEEZEDBRAH]

I've been expecting a big crash already. Nodda. Another person I follow went full De-Gen play. Predicted some huge up swing in coming in the next two months. I'm more cynical. DCAing on the regular.

 

[BackInTheGame78]

I've been expecting a big crash already. Nodda. Another person I follow went full De-Gen play. Predicted some huge up swing in coming in the next two months. I'm more cynical. DCAing on the regular.

I'd be really careful right now going all in...I don't think this is the bottom yet.

 

[DEEZEDBRAH]

I'd be really careful right now going all in...I don't think this is the bottom yet.

Nah. I don't either. I saw Ben Cowen talk bearish. I am very cynical. Still DCAing.

 

[BackInTheGame78]

Nah. I don't either. I saw Ben Cowen talk bearish. I am very cynical. Still DCAing.

I'm longing this bounce but planning to close out before I go to bed tonight...Sunday night/Monday morning pumps are known to retrace fully by the end of Monday many times.

 

[DEEZEDBRAH]

I'm longing this bounce but planning to close out before I go to bed tonight...Sunday night/Monday morning pumps are known to retrace fully by the end of Monday many times.

Nice. I bet you cringe at your capital gains tax for 2021.

Btc decoupling from the equity markets. Thoughts? I suspect investors are getting smarter realizing btc isn't a tech stock.

 

[BackInTheGame78]

Nice. I bet you cringe at your capital gains tax for 2021.

Btc decoupling from the equity markets. Thoughts? I suspect investors are getting smarter realizing btc isn't a tech stock.

Haha, nope, I sold at strategic losses a few times to wipe out almost all my gains, then bought back cheaper and held til 2022. Losses wipe out gains in crypto unlike stocks when you buy it back cheaper.

Bound to happen eventually. How soon, don't know. Some think it's imminent, others a few years away, and others somewhere in between.

 

[DEEZEDBRAH]

Haha, nope, I sold at strategic losses a few times to wipe out almost all my gains, then bought back cheaper and held til 2022. Losses wipe out gains in crypto unlike stocks when you buy it back cheaper.

Bound to happen eventually. How soon, don't know. Some think it's imminent, others a few years away, and others somewhere in between.

I think the laws in America differ vs UK and around the world but again, I don't trade. I can't say for sure. I DCA and I HODL. If you bought in cheap plus you have the tax write offs or wash trading I'm sure you are up.

I've been in ages but I really had only 1 buddy with a similar background as you. I wish I went in harder than I did. I went harder in pickup and biz. Fortunately I got in early. I never sold. I am going to keep learning and accumulating mostly large caps.

My buddy is Makinga kill in NFTs but it looks so scammy. Dorks on YouTube talking 9s and 10s standing by a rented Lamborghini. Dude bro at the gym in a leased 3series BMW or financed over a decade. Not to say that there's no good projects. I just see so many rug pulls and con jobs. You into any???

 

[BackInTheGame78]

Still waiting for @Fruitbat to respond to his insistence that I post my trades. What's wrong bro? You mad because I actually did exactly what I said I did?

Can't understand how some "newbie" can trade better than you who has been in it 20 years?

Never confuse ability with experience. The two aren't related.