The Fight for $40k

We can grab a snipe even through the struggle.

8ƀit

Apr 28, 2022

Hello degens!

As you know I’ve been busy setting up the Trading Library which has taken a month of solid work to curate and compose and I haven’t had as much time dedicated to trading.

In addition, I’ve set up our new Discord community chat! I spent most of yesterday starting from near scratch and I’ve got it setup pretty nicely:

It’s got a free / public chat area as well as the paid channels for subscribers. I’ve already setup a few bots that’ll show real-time prices and charts — pretty neat! I’d love for you to join and help me kick the tires!

Still very early stages but I think it’ll be a good addition to the paid newsletter and content / education! I’m particularly interested in the community calls that we could do and even live video trading — wouldn’t that be crazy.

8ƀit @8BIT

adding some alerts for folks in the discord... ... every bit of alpha helps! $btc #bitcoin #btc

But, I did manage to get a trade in as I set about my day yesterday morning:

8ƀit @8BIT

gm degens! ... we could be still working that larger (anti) bat on the 4hr; black swan activated, possible prz on a cypher / shark on the 15min. ... everyday is a good day to make a few satoshis! $btc #bitcoin #btc

I’ve realized that I’ll oftentimes share some of the harmonic patterns that I find on Twitter and then follow those patterns until a conclusion or until the trading day is over and I’ve closed my table down.

This thread started with watching some harmonics and then planning a strategic and heavily-loaded trade for just a few points:

Honestly the price-action right now is absolutely ridiculous and a bit scary, to be honest — you have to have some stones to trade in these waters right now! And the DXY is going absolutely parabolic which is really depressing bitcoin’s price:

8ƀit @8BIT

i can't believe how parabolix $dxy is rn... ... this is one reason $btc's price is so low. ... #bitcoin will have her time in the sun, again.

We’re having a real fight to get back above $40k! But, if she wants to, she’ll do it and we’ll trade her all day, every day.

For this trade I watched the volume go up and down and I’ve been able to see a lot of this in near real-time via tools like Tensor Charts:

I’ll start adding more of these tools to the Library.

You can see big blocks of orders and the levels that are more than likely going to be filled by larger players, whales, market makers, and/or institutional buyers.

It was becoming more clear that we’d make a big jump toward $39,700 so I timed a long and then planned a quick exit. I shared this thought in Discord:

I first took a look at the volume charts and order blocks around 6:00pm and by 11:00pm I had a spot chosen and and order filled and done. Profit. Clean, simple, steak dinner.

To infinity & bitcoin,

— 8ɃIT