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.
aus der Sternenmitte
Joined March 2011
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It's time to post the big-picture look at why this is the bottom & you should be buying bitcoin.
It's the same bottom breakdown I analyzed back in Dec '22 & you can see how that played out (see my pinned)
Don't screw this cycle up. Buy & walk away for 2 years. Come back happy.
Most traders ignore volume & wonder why they get trapped/left behind.
Look at this chart. History is repeating itself.
Notice how heavy vol is stepping in to form the exact same base structure we saw earlier.
It’s no coincidence. Smart money leaves footprints. Can you spot it?
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$75,600 to be exact.
#BTC Update 🚨
Price is in limbo between support & resistance. If you’re not in a position --> wait.
A dip into low $80ks or mid $75ks would be a great buy zone. Not guaranteed, but keep cash ready just in case.
Things still look GREAT, big-picture. Keep stacking opportunities
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Well…damn
BREAKING: Binance has been hacked with wallets across the Ethereum, Bitcoin, and TRON networks seeing outflows of -$5.7 billion.
The hack includes $1.45 billion worth of Bitcoin and $875 million worth of ETH.
If confirmed, this would mark the biggest hack in crypto history.
We expect more information shortly.
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Just following up on this to close the thread out. All 10 contracts closed now for a net profit of $620 in just 18 days.
My Options posts haven't seemed too popular, so I'll just stick to posting big picture outlooks on BTC.
#IBIT #BTC
$IBIT 10 contracts @ 10/16 DTE
Thesis: Rej@ 49.5 down into 46–47, while holding firmly above 42
At expiry:
@ 49+, I get paid $50 for being wrong
@ 47, I collect $2.05k
Plan to take profit (approx $1,000+) if it hits 47 early
Educational purposes only - Do not blindly copy trade
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You can already see how the support level had lots of eager buyers waiting
It's normal to feel worried & want to sell when price corrects into support. It's what markets do to people. Having a well-thoughtout plan ahead of time gives you confidence to fight that fear
$btc $ibit
Forget that this is IBIT (the BTC ETF) Just focus on how it correlates to the BTC price.
I had this region marked as "likely support" for a reason - it was bound to hit this range.
BTC looks fine. Volume looks fine.
These are the areas you buy - not fear.
$BTC #bitcoin
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Just as I forsaw. The play takes advantage of a move down, that then rolls around sideways for a bit. Time decay works in my favor. This time next week, it'll (likely) be well into $1k+ profit
The Longs provide insurance against an adverse move as the Shorts sit further in profit
$IBIT 10 contracts @ 10/16 DTE
Thesis: Rej@ 49.5 down into 46–47, while holding firmly above 42
At expiry:
@ 49+, I get paid $50 for being wrong
@ 47, I collect $2.05k
Plan to take profit (approx $1,000+) if it hits 47 early
Educational purposes only - Do not blindly copy trade
And just like that...you can see how the price has already rejected into the area I wanted it to.
If/when price remains in this area, into next week, I start seeing very big, unrealized profit.
If it takes off to the upside against my will?
I still profit $50. Great setup.
$IBIT 10 contracts @ 10/16 DTE
Thesis: Rej@ 49.5 down into 46–47, while holding firmly above 42
At expiry:
@ 49+, I get paid $50 for being wrong
@ 47, I collect $2.05k
Plan to take profit (approx $1,000+) if it hits 47 early
Educational purposes only - Do not blindly copy trade
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Price action is playing out just as foreseen. This is healthy. It's all about support & resistance. That's how the game is played.
Don't worry, don't fret. This is normal and was expected.
Entropy retweeted
To further show the beauty of this setup, you can see how it’s gaining money even though it’s going against my ideal situation. If it is $49 or more (up to infinity), I still make $50 for my time, while ideally it would go back down to around $47 by expiry (10/16) to make $2k.
