[Daily Discussion] - Friday, February 04, 2022

  1. Selling the bottom here was a good lesson that I really need to leave emotions out of this. I buy the tops and sell the bottoms, I just need to use the constanza method and I would be rich.

  2. The key is to buy on the panic and set some ladder out targets as to not be greedy. It is very hard to do. Zero, after all, is the floor.

  3. There's an old saying in Tennessee. I know it's in Texas, probably in Tennessee that says, fool me once, shame on shame on you. Fool me… you can't get fooled again.

  4. Look to the left on your chart. See the two giant dildos in a row as we broke out of the downtrend? Then notice how long it was before it retraced even a little bit. Shorting this move is a pretty dangerous gamble after you had months to get your short jollies.

  5. BTC can never go negative. If you're not buying now (meaning at any point in time), you will regret it within 36 months at latest.

  6. i'm thinking bear trap, what do yall think? i opened a $700 position on weth last night which is now $784, i'm debating between locking that in with USDC or holding

  7. Yeah I’m worried about how long this rally will last. I’ll likely take 10% in the 250-290k range.

  8. This feels like seller exhaustion imo. we need more bad news to take us lower - even the massive FB selloff was retraced in hours. Thats huge

  9. With months of bearish price action, how much short interest could get caught with this recovery rally continuing? I can envision a serious melt-up scenario continuing this weekend as the stock market had its best performance of the new year. Only time will tell, but I, for one, am not short right now.

  10. We've been in a steep correction downwards for months. I'm mentally prepared for a steep correction upwards. My body is ready. Take me.

  11. We can flip resistance to support and then go much higher. That would be hard on people betting on the price going lower long term.

  12. Btc.d is a horrible indicator when you can spin up your own squid coin and lock up 99.9%of the float while claiming a 8-9 digit valuation.

  13. Well I did my part. Back in 100%. It could go back down, but I'm happy with 40% off, and this pump has confirmed, in my view, that there is sufficient spot interest to keep the ball moving forward.

  14. Sold 20% of my long from 48 at 37.5 to lower liquidation. It made me feel a lot safer in the past week but now I’m getting fomo and feeling a bit stupid about it tbh

  15. If you don't set your stop when you open your position you aren't trading, you are gambling. If you don't know where your stop should be when you enter the trade you shouldn't enter the trade.

  16. Interesting observation. I think the cup is supposed to have a rounded bottom, which the July-November phase doesn't really fit. But I don't put too much weight into patterns like that, so maybe it doesn't matter if it doesn't really fit the definition.

  17. Where does this “may be” come into play? We never even made a new swing low. This is Clearly a bull market.

  18. how could this happen my long was liquidated on the way down and revenge shorted the weekly oversold RSI how could this happen bro?

  19. I’d love after March. I’d like to play these swings but avoid short term capital gains. Guess I’ll continue to hodl.

  20. It's going to be an interesting weekend. We're up over 5k from yesterday's low. Will it grow? Will it hold? Am I not entertained?!? I most certainly am!

  21. Tbh it will give the market a lot more certainty about funds and paves the way for ETFs and whatnot. Some stables may be affected, but for the most part I think bitcoin will remain largely undeterred by it

  22. I think they're going to end up being a good thing personally, I know regulations go against the point of crypto in general but.. They're not gonna let an asset class go into the trillions without saying anything

  23. David Marcus, former president at PayPal, former vice president at Facebook, former board of directors at Coinbase. Considered an early promoter of cryptocurrency and is the co-creator of Facebook’s cryptocurrency Libra, later renamed to Diem:

  24. Its very impressive tbh, i would never think retail could buy (and hold) that much, and its only one exchange.

  25. More zoomed in version. Short interpretation: looks good if it can maintain above the 800. Even if it falls back to the 500, still looks amazing. However, the RSI shows overbought.

  26. Currently fighting the 800 EMA. Hasn't broken above it since Christmas. Hasn't maintained above it since mid November.

  27. Breaking 43.3 is the next structure target. If that goes then can see some old fashioned Fomo pushing us back to 50k, before the turn down begins and we head back down to the mid 20s in the summer.

  28. daily reminder: if youre waiting for something to impact the price so you can buy in lower just be aware that it has most likely already been priced in. Many ppl miss many boats waiting for something thats already happened

  29. Don't read too many of these orders, but they can't even edit the boilerplate to provide dates certain??? The same tax dollhairs they want a slice of put to work:

  30. Macro is so hard to read right now. I'm very cautious right now bc of the possible FED rate hikes and QE end/slowdown leading to possibility of broader market declines which could overwhelm natural BTC growth in the medium term. BTC itself was oversold on a fairly long timeframe (1D) so this move within the BBand range is not surprising, I personally was not expecting to see it so soon though. Makes me think that it could just be intermediary bounce enroute to a double or triple bottom, with possible further upside before going risk off for the March Fed meeting. I'm watching very carefully. If FED chickens out on rate hikes bc "election year" or otherwise, I think it will signal "game over" for them to all players, and be massively bullish for BTC. The stakes are very high right now. GL all.

  31. hey bro if your that cautious and concerned about rates, its priced in already. just saying you aren't ahead of bond traders.

  32. It's good to see some excitement with spot buying again. It confirms to me that there is, once again, real interest here. The last few weeks had shown complete lack of spot interest.

  33. Exciting day we're having but holding my breath until we hit $43k. Not going to fall for this again so soon. Still watching the channel we've held since the Nov ATH.

  34. From a bbands standpoint, 1D SMA 20 was broken this morning, which seems to have been a huge buy signal. A move to the 1D bbands ceiling (44-45k) looks expected now based on this.

  35. Well, BTC is up 11.4% in 24 hours and if there's suddenly a ton of money flooding in or out sometimes there's a slight premium or discount before the market makers can arb it out. Plus the BITO ETF is based on futures anyways which don't track precisely.

  36. Am I reading the SEC letter correctly (link below)…we will either know if the GBTC spot ETF conversion is approved or denied by Sunday, no more delays. Maybe some insiders know that it’s going to be approved and hence the jump today?

  37. Honestly just stop holding your breath on any of these spot ETFs. Until there's either some change to the underlying spot markets or simply someone else in charge of the SEC, the SEC is not going to approve any of them. Gensler basically can't be any more crystal clear about it but every single time there's a deadline people are still filled with hopium.

  38. The usual. Hundreds of grandchildren, utter domination of known space and the pleasure of hearing that all of my enemies have died in terrible, highly improbable accidents that cannot be connected to me.

  39. Fun irresponsible way to play with extra cash which has surprisingly worked out well. I do believe it is based on the greater fool theory though.

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