I'm also in (slight) profit, but getting out would be rushing it for me. I'm still trying to build the short up one bite at a time. EDIT My timing this round was just lucky. As soon as I closed the BTC hedging short, she got up a little. I didn't reopen it, but I replaced it with a short on BCH. Not of the hedging type, though...
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The fuck does their Ipo have to do with a huge reliance on a complete shitcoin that can bankrupt them? Call me confused. Bitmain has to pump its bags so it can exit. Is this organic growth?
One word. SHORT.
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I've been sweating my lastest, littlest, enteredlowest hedging short.
With the small price surge, it was getting uncomfortably further away from the green. Luckily, a spout of volatility brought the price even lower than it was before. As soon as I went green, I placed a stop loss limit order that would close the position while still in the green, and a lower (better) take profit limit order that would grant me a nice bag of change when closing. The stop loss hit first, so my profit has been half of what it could be.
Now I'm left with my baseline long - not hedged if it goes lower, but ready to rock with no hedging penalty if the bull run comes early. Playing wait and see, as usual.
TL;DR These leggy redheads aren't too bad if you approach them with caution and undue respect. The other women are just so... uh, ordinary.
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Bitmex is the hot leggy redhead. She will give you the ride of your life, blow through every account you have, then trash your life by making you wrap your own car around a tree.
Worth every minute of it.
So you've met her too. Of course a chick like that will leave a few scars. Worth every single one, as you say. But if we learn our way around that tree, we can turn back to a normal life with the other ladies and still use her from time time. No more crazy rides probably, but she won't turn us down if we need a quickie. Or two.
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November the 5th is when they start trading. Get ready for the new bull run. I think this could be a game changer. But I pray that they don't down the road change the rules and corrupt this. In theory, by holding clients' bitcoin accounts for them directly, they can fractional reserve the bitcoin they hold, have re-hypothecation, etc. Even phantom shares of bitcoin. So hoping it doesn't go that way. One thing that could help would be to make "bank runs" (moving physical bitcoin out of customer accounts) an easy, quick, hassle-free activity by design (in Bakkt internal rules) and by law (file under "investor protection", which apparently the SEC really, really cares for). Bakkt is one of those ''First-Movers'' opportunity. It will be a financial powerhouse, doing business national ore international will save time and money for all party's. If they don't watch out they might be replaced with decentralised platforms later on.
Indeed. I hope this could make them wise up before attempting swindles or dodgy rules. However, I am quite jaded about this, especially since from what I've understood until now, Bakkt's intended customers are mostly institutional investors and other big money kind of actors. These are unlikely to trust - or likely unable to use - real faceless decentralized platforms.
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Oh, fuck, we are poorer. What are we gonna do?!?!
There must still be some room in Rosewater's cabinet.
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BTC Just broke the 200 EMA. Lets see what it can do. The bulls are pushing hard to keep it up but the money will run out. It's possible that the money will run out for this round indeed. However, give it some time. Wait for the apparent trend to invert - because of whaleplay, real life signals, or just plain tidal waves. The normies will come in like flies, and the MSM will be quick to remind them of past glories near 20k. There won't be enough rocket memes in the whole Internet then.
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Resistance being tested ~ $6530 Edit: We are just not seeing good defence of the $6500 line. Sad. Yes we're going down. I wasn't expecting anything different for the new week, but I was hoping for a slightly more sizable run up before that. He we go, hello 6.4 100x short on bitmex My underleveraged short (< 1x) will be in the green soon. Each time I close a short, the following high is lower. This makes me more and more cautious about opening a new short, but I did quite well to date. I'll be happy to pay when we break out of this pattern and the bull run starts.
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Rationale: we are going to stick our head above the trend line again to hunt short stops, and then drop back down again. That's the way I see it too, and that's what seems to be happening now. We could peak a little higher still, though. Some of you supposed inner bulls are a bunch of sour pusses, and makes me NOT want to hang around with you nor to introduce you to my friends because you are making the parade less fun... ... Didn't Tera beara have that tendency? We need some critical thinking to avoid the echo chamber effect. Some of us are taking turns carrying that heavy load on broad shoulders. In other words: get the fuck out of here with your nonsense about sour pusses.
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Rationale: we are going to stick our head above the trend line again to hunt short stops, and then drop back down again. That's the way I see it too, and that's what seems to be happening now. We could peak a little higher still, though.
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On a separate note, I've updated bitcoind to v0.16.3 already a few days ago - as soon as I saw the soft warnings on the header here. Have we all?
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Nice wakeup move. It might still be phony. I'm waiting for 7.5k for partial confidence. My SOMA prediction is it will deflate quickly, and we'll get the usual sideways or downward weekend.
Straight Off My Ass predictions - Almost always wrong, almost all the time!
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Cute cartoon, but I find it promotes a ridiculous narrative. The idea that BCH will fail and crush alts could be somewhat true. But the implication that it will weaken BTC is ridiculous. The really goofy part is the idea that Ethereum is somehow a safe haven with a clear road is ludicrous. I could be wrong (like many times before), but I think you're the only one who made those three conclusions.
I am super unique! My interpretation:
The aVerlanche is going to bring BCH down where it can join the rest of shitcoins. BTC will remain strong and the only one at the top. Ethereum is a user friendly (paved road) playground. Anyone with a couple of hours spare time can create a useless token on top of it.
I like it. It is a better story than mine. Closer to the general vision here probably, but yours made for a more satisfying read emotionally!
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It feels like whales are out for limit hunting. Shake down, wait. Shake down, wait. Shake down, wait. Shake up! The only way I know to get through times like this is to stay flat or to keep very small, underleveraged positions.
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A couple days ago I've closed my short with a modest profit without falling for greed. Past lessons are paying out. Now I couldn't help reopening a small position and shorting a very tiny little at the local top. If it blows up, I'll gladly pay what's due when it reaches, say, 10-12k. My long will more than make up for it
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Long but interesting read, with facts and numbers.
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Poor chap. Chased by a spooky bear toting giant red dildos. He's going to be scared shitless. In his place, I think I would.
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Half-Barts rule the day on wimpy volume. Only the ramps show a little more trade.
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If smart money is smart, they may be looking ferociously to the record pile up of BTC shorts, just waiting to be short covered by whales teasing the price upwards and upwards. If that cow can still be milked, why wouldn't they?
Because maybe they are expecting the pile of shorts to be even higher before rekting them for good? Or maybe they (or their friends) are still accumulating. Justsayin'.
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Going back to $6500 ?
It will be nice, I'm in long now. I also closed my short again, with a moderate profit. I only closed about half of it near the bottom. The other half was closed by a stop loss, still in the green but barely. Now my historic long is all that's left. Not sure I'm going to play another leg down when/if the corn gets above my previous short entry point: the wind might be changing sooner than I expected.
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