People are still expecting halving will be the biggest sentiment of the industry. So that is why, not many funds will be exit the industry, rather attracting more inflows, until next ETF approval announcement.
Furthermore, skip skip, we are in mid year of 2024, everyone expecting the FED to not have rate hikes. Then US election in November and then probably we’re topping in early Q1 of 2025. If ETF approved, bigger inflows, prolong the bull to breath until end of 2025.
At some point, HTF correction is due. Just dont know where exactly the momentum is. Since timing the market is not a good idea, all we can control is put stop loss.
Recently Michael Burry loss more than Rp 15 trillions for him to time the market. So who are we? (=
Late to the party? Cari yang laggard. Misal, $CRV $GRT.
Lo lagi mantau apa di marketcap $500 juta ke atas?
As the price getting on to the edge, there will be a lot of major traps like you are walking into these things.
Sudden significant price movement which happen to be on your opposite direction, will technically wipe your account—because your bias prolly not align with the market trend which tend to drive bunch of emotional decisions.
Comfortably sitting on spot is not a bad idea.
Opinion without having any postion is just useless. Sidelined until 2-3 next weekly candle.
Читать полностью…1. Bitcoin touch that $43K level. Making lower high still. ETF priced in still valid. Needed new sentiment to get higher.
2. Funding rate is still high atm, even though market gets corrected. Confident it will snap on the announcement. Beware there. Will be watching.
3. Its good that end of the year you dont need to look at charts. So, enjoy your new year celebration 🙌🏻
TLDR:
Secure your profits, probably is not bad idea, if not best idea. Nobody went broke consistently paying themselves.
But, correction will be open a window of interesting level to accumulate spot again if you are in a DCA mode for one of your portfolios.
LTF play: not gonna be too confident we can reclaim $43K, since the narrative that we mentioned that HTF will pretty much going to have a correction. How big? The range can be $40K - $38K. Much worse? Well we can talk about it later.
So the best LTF play atm is sideways for BTC until ETF approval announcement is sideway upon this range $42K - $44K which happen to be estimated less than 2 weeks. Possibly will not getting out of this range until we get another sentiment going on.
Alts: sideways will gives alts breath. Which we saw that happened. Alts that already getting the maximum short term capital rotation, will get corrected, but, will not get any lower than last weekly open. The capital rotation continue to smaller alts sooner or later.
After ETF approval announcement?
Wether it gets rejected or approved, both are still bullish for the year, will not making any lower price than yearly open (2023). So, it will only make us to wanting unloaded in a premature way on the unfinished bull run.
Cont…
Momen dimana lo merasa whale mantau, nunggu-nunggu-nunggu, pas lo entri, dia berlawanan arah 🤣
Читать полностью…A good sign the rally is still there.
Timing the market to look like you are a genius is really not a good strategy sometimes—which right now is one of the moments.
Bukan koreksi untuk nge crash market sejauh ini. Bear boy mungkin masih perlu nunggu agak lama sampai ETF sentiment. Setelah itu FOMC meeting lagi. Kalo nggak ada rate hike, malah bullish lagi.
LTF masih bullish
Belum ada yang drastis sejauh ini. Tapi yang pasti:
- meme mulai pop right and left = dumb money activated again
- etf priced in. buy the rumour sell the news thingy.
- high fr
- price driven by futures
- institutions nge fomoin ETF yang belum pasti approval-nya walaupun pada akhirnya di approve. US pemilu di November. Wdyt?
As we learn futures trading:
1. Only trade high convictions.
2. Market doesn’t care about your opinions. Adapt or get burned faster than you can imagine.
3. Stop loss is there for us to use it. Use it.
4. Stop being addicted on making entries. We are here for business, entry when it’s most likely will be profitable.
5. You dont need to trade everyday. 1-3 trades sometimes are enough to cover monthly-yearly expenses.
6. Withdraw regularly. Reset your emotions.
7. Don’t boast. Don’t brag. These attitudes screw our emotions, lead to > revenge and emotional trades > bigger loss.
Nothing is perfect. Enjoy your journey.
No competition for the grind. Learn with others.