Is the crypto winter over?

[johnarb]

Call me a helpless degen, but gotten in short (yet again!) @ 51.3K. I only regret that I didn't jump in sooner when it retraced back up to 53K.

SL 53.3K

Right there with you... I think it's a matter of perspective, we have enough conviction to risk funds on something we believe is going to happen (in the short term)

short-term Trading is gambling, imho. Only risk play money and nothing that can hurt too much

I went long btc perp futures when I saw the GBTC outflows were much lower than the other 9 ETF inflows...

was planning to add, and was given an opportunity over the weekend, but I used a different dex platform that has been giving airdrops (Jupiter on Solana)

my liquidation price points 44k and 47.4k, respectively

 

[The_Krakenite]

Damnit to hell. I had been planning another ETH trade last night. But this afternoon it had already shot over 5% up, so I waited.... only to see it keep going higher. I give up for the day. Either the Tether printing press is spamming, or the paper-hands are back again and everyone's over-leveraging.

 

[schizo]

my liquidation price points 44k and 47.4k, respectively

Good luck. With steep selloff this morning, I feel this market is ripe for a pullback. But then again, I've been plenty wrong before so don't put too much faith in what I say.

 

[NoahA]

With steep selloff this morning, I feel this market is ripe for a pullback.

But every selloff is aggressively bought up. I made some notes on this chart since we hit -20% after the ETF launch. Nothing to me so far suggests any weakness. Every dip is being bought up, and there are no re-tests of previous breakout levels. Sure we are going sideways here at the previous top just before the ETF launch, but it looks like people are just loading up and buying every dip possible.

 

[schizo]

But every selloff is aggressively bought up. I made some notes on this chart since we hit -20% after the ETF launch. Nothing to me so far suggests any weakness. Every dip is being bought up, and there are no re-tests of previous breakout levels. Sure we are going sideways here at the previous top just before the ETF launch, but it looks like people are just loading up and buying every dip possible.

Well, I'm gonna let price speak for itself. No need for us to argue between ourselves because we will just go around in circles arguing in favor of the direction of the trade that we have on, eg. you long and me short.

But one thing to note is that while we are rangebound here at the top, there were 2 "fast drops" (which were not just fast but pretty sizable too), which in my mind should not happen in a strong market. A sign of weakness? We'll find out in short order.

 

[schizo]

And why I think the weakness will stick this time. (Since a picture is worth 1000 useless words, I'll just post a chart )

 

[johnarb]

Good luck. With steep selloff this morning, I feel this market is ripe for a pullback. But then again, I've been plenty wrong before so don't put too much faith in what I say.

Good luck to you, too. Just trading on fundamentals... I got liquidated on that GBTC outflows, but after it slowed down, it's been on uptrend, now 52k, knocking on next 1,000k resistance 53k

fwiw, the 2 positions have not been on a drawdown since being put on, the latest one was 2 nights ago and I did not catch the bottom of 50,600, it was put on at 51,045

so I don't sweat the volatility, the m2m profits may fluctuate, but the position is not threatened in any way even with the wild swings up and down

 

[schizo]

so I don't sweat the volatility, the m2m profits may fluctuate, but the position is not threatened in any way even with the wild swings up and down

Geez, I hope not. For a guy who said Bitcoin was going up to a cool $1 Million, it would be laughable to see him sweat over paltry $3K swings.

Also I plan to flip back to long at around $48K, if we can even get down there.

 

[johnarb]

Geez, I hope not. For a guy who said Bitcoin was going up to a cool $1 Million, it would be laughable to see him sweat over paltry $3K swings.

Also I plan to flip back to long at around $48K, if we can even get down there.

So you want me to talk big number price targets again on bitcoin?

Ok, to be very very clear, bitcoin is going to $100k, then $500k, then $1M, then $10M and higher... bitcoin price will go up forever because...... the-dollar-is-getting-debased-forever

Scarce asset vs infinite fiat supply. Simple math. Simple logic

The swings we're discussing here are of course for short term trade positions, we're all aware we are gambling, right???

How I handle the volatility swings is not to worry about it, otherwise, I'd be depressed turning a $30k profits m2m to a $20k complete loss (liquidation)

Gambling with play money for short term trade positions.... NFA

I have bitcoins in wallets that are for long term hold, or forever hold, multi generational wealth... for the kids...

So to review, don't think $1M per bitcoin price is the end as the price of bitcoin will go much higher than that

 

[semperfrosty]

So you want me to talk big number price targets again on bitcoin?

Ok, to be very very clear, bitcoin is going to $100k, then $500k, then $1M, then $10M and higher... bitcoin price will go up forever because...... the-dollar-is-getting-debased-forever

Scarce asset vs infinite fiat supply. Simple math. Simple logic

The swings we're discussing here are of course for short term trade positions, we're all aware we are gambling, right???

How I handle the volatility swings is not to worry about it, otherwise, I'd be depressed turning a $30k profits m2m to a $20k complete loss (liquidation)

Gambling with play money for short term trade positions.... NFA

I have bitcoins in wallets that are for long term hold, or forever hold, multi generational wealth... for the kids...

So to review, don't think $1M per bitcoin price is the end as the price of bitcoin will go much higher than that

I think Lyn said 2.3 the other day.