re: Official CryptoTalk Thread

Good chance you are right. It's crazy how people are manipulated by news and overreact as a herd. I was looking for a pullback to $95K or lower to start another volatility trade. It's close enough for me. I'm going to go buy a stack of BITX.

EDIT: I just bought a stack of BITX when Bitcoin was approximately $95.2K. Hope to sell it next week for a decent profit.

Here comes the 88-90k retest I was expecting last week.

Hoping it’s just a liquidity sweep, or things are going to get ugly.

My BITX is bleeding badly. Do I care? Absolutely not. I still see more opportunity. I'm going to buy some more tomorrow morning on this downtrend.

This reminds me when I bought BITX at roughly $61K, $59K, $56K, $52K and Bitcoin was free falling. It fell to like $48K or $49K but I was out of trading cash because I was trading larger percentages of my cash and I had a lot less of it. I had a bunch of losses stacked up in BITX. Panic was prevalent. I just waited it out until Bitcoin recovered. No different now, but I'm not out of trading cash, so I will put more to work, dollar cost averaging down.

Slight correction. At that time, my "trading cash" was actually incrementally trading up to 25% of my total BITO stack to BITX on Bitcoin pullbacks and reversing the trades on Bitcoin's recovery. I since switched to trading cash and BITX instead of trading BITO and BITX.

It feels like we’re going to have to see 80-85 for positioning to flip and feed the start of the next leg of this cycle.

Agreed, but we haven’t had a genuine candle from hell day where I avoid the internet completely for 24 hours. That’s my bear case.

I'm looking forward to the next time when Bitcoin goes parabolic and hopefully I catch it in time to watch Bitcoin climb significantly almost every minute for a good amount of time, where I just say wow. 2020 and 2021 included several runs like that.

Down multiple six figures as of this morning. I don't have much powder right now.

Hoping to sell one of my rentals so I can inject some cash at these levels.

Sweep of 88-90k complete. Now we wait and see if we close the day above 90k.

momentum could take us lower but we really seem to be close to a local floor. I know I keep saying that but a lot of alts are down 50-70% in the last 30 days. If btc takes another leg down, most alts are going to head down to their cycle lows in 2023.

I have a hard time seeing that happening for any meaningful length of time.


Like before, this seems like a massive market overreaction to tariffs. I think it’s all just posturing but, even if they went through, it wouldn’t wreck the economy in a way that warrants this type of off-risking.

Long March options.