Trader, angel investor, engineer. I am a trader. My views will change.
Joined September 2017
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Back home finally. That was the most insane "vacation" ever.
FARTCOIN: 190x
GOAT: 130x
GNON: 90x
ZEREBRO: 25x
HAT: 25x
LUNA: 15x
KOTO: 10x
Oh and I guess I went to four countries or something too.
What I'm looking for to consider this pattern still valid is this week closing above the capitulation wick lows like it did last time.
Let me put it this way, OTHERS (aka alts) haven't had any kind of consistent pump since July.
Are you really going to start calling the top the first day we get old alts pumping after 112 days of sideways and down?
There are two primary scenarios where shitcoin garbage alts pump.
1) Market has been down only and the shorts that have ridden them that entire way down finally get squeezed. This usually happens at the start of runs
2) Market has been up only and longs that have been riding it up the entire way have nowhere left to rotate to except garbage that hasn't pumped yet. This usually happens at the end of runs.
It seems clear to me which one we're currently experiencing.
There are two primary scenarios where shitcoin garbage alts pump.
1) Market has been down only and the shorts that have ridden them that entire way down finally get squeezed. This usually happens at the start of runs
2) Market has been up only and longs that have been riding it up the entire way have nowhere left to rotate to except garbage that hasn't pumped yet. This usually happens at the end of runs.
It seems clear to me which one we're currently experiencing.
Many are concerned with how hard alts are pumping today. I don't think it's a big deal considering:
1) BTC LTF also looks amazing
2) Alts are so destroyed that 20% pumps aren't even enough to revert the Nov 4th crash for many of them
So not only is QT ending, QE is starting shortly after.
Keep posting those $69k BTC targets, thanks.
I just now realized a synchronicity I missed. My dad texted me this on Nov 1st.
On Nov 4th we crashed below $100k.
This was also the day of the "Beaver Moon"...
How are you gonna explain to your family that you're broke because you faded Scottie Pippen and shorted the bottom??
My conviction just keeps getting higher that the top is not in.
I really think the invalidation of the 4 year cycle is a HUGE catalyst. It's the most widely held belief in our entire space. 10s, maybe even 100s of billions have been sold because of it.
Longer we hold above $100k, the more it proves them wrong and the more that $ reenters.
Turns out just longing, having faith that everything is going to be ok, and logging off to go have a great time with my friends was the move.
