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
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 .
If you look at the volume on any major chart right now, you can see price swell on relatively lower volume than the selloff candles after them.
That's textbook "pump coin X_amount fast, exit X(y)_amount slowly."
Whales are literally pumping & dumping the smartest way possible.
It's understandable to be torn on what decision to make right now
"I don't want to miss out, what IF!?"
or
"this HAS to be the bottom, right? Things are bullish"
BTC & (most) ALTs have been printing consistently lower highs. Until you see a break of that trend, you are gambling
You should never attempt to learn trading from people that don’t factor volume into their charting. It’s just bad method.
I came over to crypto from traditional markets, & as such, that was my foundation. If you truly want to learn how to trade, study traditional market players.
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.
Both Fear and Hope are equally bad sentiments to have as a trader.
They are complete opposites on the spectrum, but have equally devastating effects if you rely on them.
Does ETHUSD look good?
Yes
However….
Does BTCUSD look good?
No, not at all. It looks like it’s barely hanging on & could plummet any day now.
So that makes holding ETH (& any ALT) extremely risky right now.
1) The monthly chart for BTC. This is the largest bearish divergence it has ever experienced.
So the question always is, when does it unfurl?
•Bullish sentiment is at an all-time high
•BTC went from 15k to 125k over 2 years & 10 months
•Volume is dying
•Momentum is dying
2) I know everyone is excited to have "ALT season". You have to remember that it's never a given. It's not owed to anyone. The more that coins get distributed, the less likely chance of big runs.
BTC is looming on the edge of a major, multi-month (perhaps years) correction/fall
3) The point of all this is not to scare you. It's to make you aware. If you've got big, unrealized gains, take at least some profit, if not all.
Capital preservation is priority #1. Don't let it be another cycle you allow your heart to guide your money. Look at the evidence.
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NOT A FROK D:
mite be a multiagency fed (unproven)
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74K Followers 1K FollowingFrog poster. Based Centrist.
Charts, but no financial advice.
$BTC is for saving your purchasing power.
Everything else is speculation.
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370K Followers 5K Followingprofessional it/that and lil/shid @wassieverse & @wassie
NOT A FROK D:
mite be a multiagency fed (unproven)
check out https://t.co/kq0S9R3VHx
74K Followers 1K FollowingFrog poster. Based Centrist.
Charts, but no financial advice.
$BTC is for saving your purchasing power.
Everything else is speculation.
( ͡° ͜ʖ ͡°)
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