Trading Ƀitcoin

Share this post

No One Knows the Future

www.8bit.trading

No One Knows the Future

There is only one real thing in trading: Profits.

8ƀit
Apr 18, 2022
2
Share this post

No One Knows the Future

www.8bit.trading

Hello degens!

We had a massive dump Sunday evening / morning (depending on where you are in the universe) and it wasn’t pretty, at all. 1,000 point drop in just a few minutes and things got really ugly, fast.

Twitter avatar for @8BIT
8ƀit @8BIT
... nothing is perfect and there is no guarantee — this butterfly got eviscerated before it could print a decent bounce. ... fuuuuuuuuuuuck. $btc #bitcoin #btc
Image
4:57 AM ∙ Apr 18, 2022

I did try to provide some hopium for folks with a Bat into a Cypher on the 4hr and even a Black Swan on the 1hr if it printed:

But the reality is that these weren’t done yet and we’d have to see how far she’d dip.

What’s funny is that just a few hours later I saw a few folks tweeting very different perspectives and opinions on price action and direction. For instance, here’s a “BUY IT NOW” tweet:

Twitter avatar for @AurelienOhayon
TAnalyst @AurelienOhayon
#BITCOIN PRECISE DETECTOR OF THE BUY SIGNALS. Every time the #SPX's 3D DMI DI+ left the blue zone, it was one of the best buy signals for #BTC. 6 times out of 6, this signal was followed by a bull run in the next months. It has just left the blue zone. #SP500 #Crypto
Image
1:25 AM ∙ Apr 18, 2022
110Likes39Retweets

Notice the use of the word “precise” — come the fuck on! Next, we’ve got some negative sentiment that would suggest the downward trajectory:

Twitter avatar for @RealCryptoFace1
CryptoFace @RealCryptoFace1
17 minutes until Blood Diamond weekly confirmed for the first time in Bitcoins history
Image
11:43 PM ∙ Apr 17, 2022
1,250Likes179Retweets

Notice how they put this: “First time in Bitcoin’s history…” … … come the fuck on!

But maybe on-chain analytics will give us a clue? What about this signal data?

Twitter avatar for @BlockwareTeam
Blockware Solutions @BlockwareTeam
76.5% of Bitcoin's supply is in the hands of diamond hand hodlers #Bitcoin
Image
6:04 PM ∙ Apr 17, 2022
75Likes12Retweets

What could it all mean? Nothing and everything.

So, you’ve got n-number of folks who were calling for very different scenarios just before a major dump and so who does one trust? How could you possibly know? On-chain analytics? Market sentiment? Global retail data? Oracles? Astrology?

The reality is that no one knows the direction of a market and price action unless you're one of the folks who have the emotional and psychological fortitude to pull the trigger and be able to actually bankroll and finance such a move. In other words, you’re an institution or market maker and most of us just aren’t that.

So, we put in our stop losses and we stay conservative and we wait for the right confluences of data and signal and then we pull the trigger knowing that we could be wrong but we also could be really, really right and that luck will provide us an exit and outcome that we can appreciate.

Wait… was I right?

Twitter avatar for @8BIT
8ƀit @8BIT
i don't like being right on this... ... but more downside to go perhaps. a little hopium: bat into cypher (4hr), black swan and butterfly as well. $btc #bitcoin #btc
Image
Image
Image
Twitter avatar for @8BIT
8ƀit @8BIT
a few high-level thoughts on $btc rn... ... and how i'm trading her. ... #bitcoin is going to do something but my bias is down on the meta. #btc will rise again. count on it. ... but, prepare for the worst. that's just good being a good fiduciary, nothing more, nothing less. https://t.co/jo4NXNBH8D
4:57 AM ∙ Apr 18, 2022

Nope. There’s no way that I could have guessed or known about that major drop. I just have a bias, like you. And time will tell who’s right and who’s wrong. But, we can trade on both sides of that argument.

Like, that bounce!

Twitter avatar for @8BIT
8ƀit @8BIT
... hit that bounce; make that money. ... laddered out, twice. will keep some exposure for more upside possibilities although there's weakness / fear in the market rn. ... trade it all. $btc #bitcoin #btc
Image
Twitter avatar for @8BIT
8ƀit @8BIT
... nothing is perfect and there is no guarantee — this butterfly got eviscerated before it could print a decent bounce. ... fuuuuuuuuuuuck. $btc #bitcoin #btc https://t.co/258Nc4yimS
6:11 PM ∙ Apr 18, 2022

Took some profits and keeping a bit more for upside. Who knows? Stay close.

Feels good bruh.

Monday is as good of a day to make money as any other.

To infinity & bitcoin,

— 8ɃIT

Share this post

No One Knows the Future

www.8bit.trading
Comments
TopNew

No posts

Ready for more?

© 2023 8ɃIT
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing