MrRenev

Bitcoin put your seatbelt on

Long
MrRenev Updated   
INDEX:BTCUSD   Bitcoin
The greedy pigs (that sounds so violent lol) might be very close to coming back. Pig is what are called greedy gambling type "investors" that join at the top of bubbles, not my word. "Bulls make money, bears make money, pigs get slaughtered", an old Wall Street saying.
I recently saw a man talking to a homeowner outside not too far, asking him if he knows someone that could work, I think he was putting "looking for workers" papers in mailboxes. In France. No one wants to work anymore. Companies are desperate for workers. Looks like a big population of potential gamblers that didn't work for their money and with way too much free time on their hands.

200k seems far but based on BTC past price action it could seriously be just 1-2 months away.
And it's all going to be the exact same story (not calling a top):


Gosh. I love roasting them SO MUCH.


The few gamblers that survived will get their dream in the end.
Out of the emotional gamblers with no rules of 2018 I would not be surprised if not 1 in 100 will make it to 200,000.
Of course, as always this tiny minority will show itself, looking for revenge and opportunities to say "told you so".
How about the other 99 gamblers that got broken?

I know some people really wanted to shut their mouths, but the vast majority got crushed and isn't around anymore to get their mouths shut.
And of course the ones still around are the survivors with survivor bias.
Life is not fair, there are always a few lucky people that survive. But does it really matter?
Being envious, jealous, angry, resentful is a punishment in itself. Good for them. Let's focus on our own performance. Not even the money, the perf.
To be honest I'm acting all emotionally strong giving this speech but in reality it is I have such contempt for them that like... Whatever some ants are joyful lol.



Exit plan anyone?


Ye I'll just use my empathy (ability to sense people emotions). When they go foam at the mouth crazy I'll be looking to sell / place a tighter stop.
I don't really have an exit plan.
Important warning: Unless you are an advanced investor and absolutely confident in what you are doing, have some exit strategy planned in advance. Would be a shame to risk 1%, be up 30%, then only get 5%, or as many do "breakeven" (these guys risk all profit the whole 30% but not that last 1% oh the mighty logic). Don't want to end up not knowing what to do.


Dayum think about it BTC has kept doing the same thing, the 2017-2019 gamblers were persuaded it would go way up. They held through pain. And then give up right before it shoots up. And now it's indeed doing what they expected. No rules. Full emotions. It did exactly what they expected topkek. They must be so upset.
I'd literally spawn rabbies viruses any time I hear a friend talk about BTC, or hear it on the tv, if I was them. Daaaaaaym, that's so embarassing too. I couldn't live with myself.

Even with a crystal ball they'd lose money. Clearly not anyone can be an investor. Not sure the right mindset can be learned. Literally my very first trade was me finding a high risk to reward with PAINT in NEO (/antshares) years ago. "Wow I can just risk that little and make this much? HOLY!". Also got hyped by insane arbitrage opps in crypto 2018, while "they" all were screaming at brokers for not letting them buy and sell at litteral random prices XD I swear, they did not even look at the price (was off by over 50% after some maintenances). You got to have solid guts and be ready to take risks, but be somewhat nitty picky at the same time.
Trade active:
Bought 25% more Bitcoin. Rubbing hands now.
Comment:
If it gets to this I'll buy more BTC at around $52500. Maybe 50-53k. Would be nice if it bottomed like it often does.

Pretty resistant bears. Nervous bagholders that just got back to breakeven keeping the price from going up. Any red candle back to breakeven makes them panic sell.

I'll just show:



If there is no bottom I won't add, I'll miss out, it's ok I'm used to it.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.