1/ Thread explains the rationale for $GBTC over #bitcoin. (Speaking from experience, but not necessarily an endorsement of GBTC):
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Price needs to let volatility wear off before its next big move. Thinking 30K-40K range for the next 1-2 weeks. Then either 50K straight or after piercing 30K and bouncing back above 30K within 1-2 days.
$27500-$27000 is the key area. If price heads back down to 30K, expect 30K to be breached, fall to that area, and bounce back. FAST. All very fast.
What do I do with this information?
Simple.
I'm trading the range against a core position. Buying when price pushes lower, selling when higher. It's like playing the achordeon. There's always air left inside.
Where exactly?
Nowhere.
I don't use limits for that. $BTC is liquid enough to trade at market without issues.
I'm watching PA, volume and rates for buying and euphoria as reflected in rates for reducing.
Decision making is dynamic. Nothing is set in stone. But most likely if price heads back down to 30K 'll be holding off next time. The gameplan is to have ammo to buy the dip (to redeploy). If 30K breaks absolutely no buying until down to 27Ks or back above 30K.
Price needs to let volatility wear off before its next big move. Thinking 30K-40K range for the next 1-2 weeks. Then either 50K straight or after piercing 30K and bouncing back above 30K within 1-2 days.
My $BTC short-term view after long deliberation and some flip flopping is rangebound in 30K-40K until the curve and vols come off a further. Then, 50K. I wouldn't be surprised if 30K is briefly breached but the risk is to the upside. Those calling for 20K missing the big picture.
— Alex (@classicmacro) January 12, 2021
$27500-$27000 is the key area. If price heads back down to 30K, expect 30K to be breached, fall to that area, and bounce back. FAST. All very fast.
What do I do with this information?
Simple.
I'm trading the range against a core position. Buying when price pushes lower, selling when higher. It's like playing the achordeon. There's always air left inside.
Where exactly?
Nowhere.
I don't use limits for that. $BTC is liquid enough to trade at market without issues.
I'm watching PA, volume and rates for buying and euphoria as reflected in rates for reducing.
Decision making is dynamic. Nothing is set in stone. But most likely if price heads back down to 30K 'll be holding off next time. The gameplan is to have ammo to buy the dip (to redeploy). If 30K breaks absolutely no buying until down to 27Ks or back above 30K.
I have a different take on bitcoin, tether, and dollars
Can also speak with authority on nation state violence
"Nothing makes you feel more free than taking another person's freedom"
and @profplum99 concerns with tether, bitcoin, and decentralization make sense yet I remain long BTC
They are correct on force, I worked in decentralized societies, they are dangerous because the state does not have a monopoly on violence
For those in the first world who have never seen a milita ride out of the desert, kill and enslave farmers, and the government cannot stop it because the 21st century slave trade pays better than the UN, the reality of decentralization is might equals right
I know, that isn't the decentralized future Buterin talks about while wearing a t-shirt with a cat fighting space invaders on it (love those shirts)
But we need to be real, disrupting the global centralized economy won't be like Uber putting taxis out of work
It will be war and faminine level disruption as old empires come alive again
For decentralization to rise the centralized global power of the last 70 years (US Hegemony) has to weaken
Yes we will be rich, but as the Big Short says,
"you can be happy, just don't fucking dance"
Can also speak with authority on nation state violence
"Nothing makes you feel more free than taking another person's freedom"
After much investigation and conversations with people on here, I\u2019ve formed a relatively robust theory of what may be happening with Tether.
— Travis Kimmel (@coloradotravis) January 18, 2021
This thread will attempt to lay it out with neutral language for the purpose of discussion.
1/
and @profplum99 concerns with tether, bitcoin, and decentralization make sense yet I remain long BTC
They are correct on force, I worked in decentralized societies, they are dangerous because the state does not have a monopoly on violence
For those in the first world who have never seen a milita ride out of the desert, kill and enslave farmers, and the government cannot stop it because the 21st century slave trade pays better than the UN, the reality of decentralization is might equals right
I know, that isn't the decentralized future Buterin talks about while wearing a t-shirt with a cat fighting space invaders on it (love those shirts)
But we need to be real, disrupting the global centralized economy won't be like Uber putting taxis out of work
It will be war and faminine level disruption as old empires come alive again
For decentralization to rise the centralized global power of the last 70 years (US Hegemony) has to weaken
Yes we will be rich, but as the Big Short says,
"you can be happy, just don't fucking dance"
Afternoon all,
I wanted to take some time to cover some resources I use in my daily $BTC trading. This will be a longer thread, so bear with it you will hopefully find something that will help you also. I will try to keep it concise so if there are any questions please DM me.
11. Portfolio Management & Trade Diary- https://t.co/KAig84dOsk
3Commas gives you the ability to see your full portfolio, mapping your balance and asset breakdown. You have access to all your trade history across all exchange in a single trade diary, saving time extracting taxes
I wanted to take some time to cover some resources I use in my daily $BTC trading. This will be a longer thread, so bear with it you will hopefully find something that will help you also. I will try to keep it concise so if there are any questions please DM me.
11. Portfolio Management & Trade Diary- https://t.co/KAig84dOsk
3Commas gives you the ability to see your full portfolio, mapping your balance and asset breakdown. You have access to all your trade history across all exchange in a single trade diary, saving time extracting taxes
