Good morning degens!

I started the week off right scoring more than $4,000 in net profit! I’ll share more details on these trades below before I do make sure to hit up the Discord Community where I’m sharing a lot of these details in 3 live trading rooms that I’ve setup so that you might consider it as additional signal t your own trades:

I’ve been eyeing entries since last night but the price action wasn’t very much to my liking; in fact, I struggled to find meaningful harmonics that I personally like and feel comfortable using as trading signal.

8ƀit @8BIT

just continuing this thread for today's treads... it's crazy rn. ... someone asked me where i thought price action was going for #bitcoin if you're trading her; here's what i sent them... ... FUCK IF I KNOW! i have no idea where $btc is going. L(° O °L)

May 1st 2022

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I honestly couldn’t find anything that I liked as it could head either way.

8ƀit @8BIT

planning out a trade as #bitcoin leaves this zone... ... long / short it? that's the question! profit is the outcome. $btc #bitcoin #btc ... shared this in discord as one idea:

May 2nd 2022

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I am also a fan of using Wyckoff as a trading methodology and there wasn’t any clear or obvious small time-frame “mini-koffs” that I felt like I could tackle (and the last one fell apart miserably although I did win a trade after the loss).

This was fine because I spent time finalizing the public launch of this newsletter and community and I was even blessed with my first pro subscriber!

8ƀit @8BIT

🙏🏼 — wow!! so grateful and humbled by the support!! ... this will be a fantastic year and i know that what our community will do and the skills that we'll acquire will make this look like a drop in the bucket. 🚀 — let's goooo!!

8ƀit @8BIT

💥 — NEW PROJECT LAUNCH: "Trading Ƀitcoin"! ✉️ — https://t.co/4XP6oYz27y 3 reasons to join: 1. LIFE SKILL: learn to trade $btc! 2. NEW FRIENDS: community calls via discord! 3. TRADING LIBRARY: simple & organized lesson plan! ... use your #bitcoin knowledge to stack more sats! https://t.co/IqF6hysKbT

May 1st 2022

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So grateful for the folks who understand that learning the skill of trading is a life-long skill that can be used and activated at any time (and from any place). You can, in effect, make money anywhere you are without ever having to give up your identity! Exchanges like Bitget (I use them) do not require any KYC which is very nice for anonymous trading.

I dig that a lot, to be honest.

In the mean time I pondered the meaning of life and did a few larger studies on how far we could head if things really fell apart for bitcoin. For instance if we take a look back at summer 2021 you see some massive wicks that could be tested again.

Expect the unexpected is a good mantra to have if you’re into bitcoin because she loves to break hearts and minds and spirits and wallets! It’s kind of her thing.

Then, I spotted a real possibility — something I felt a bit more safe to execute against. Around 7:30pm (local) she bounced at $38,350 after blasting through it 4 hours earlier. This kind of contextual setup is what day traders absolutely live for.

I started hunting for options; quickly.

I figured that soon after that bounce she’d want to retest it again and if she did she would either bounce (and perhaps rocket northward leaving us all behind) or she’d crash it like the first time you had too much to drink.

I created my setup in TradingView and figured that if I could get a gate-crashing, 300-point drop to $38,050 (from $38,350) that I could stuff some big bags and quickly profit, turning a 300 point move into $3,000+ profit.

Let’s go!

Stop loss would be at half of that value (100 points) to keep things tight and orderly. Actually, I’d move it a bit beyond just in case she goes all the way to $38,450 — which she ended up doing and I shared this in Discord:

She literally danced to the level a few times, coming in just 1 or 2 points from $38,050 — I thought a dozen times in those few minutes to inch-up my take profit just so I wouldn’t miss this very large snipe.

I think I literally held my breath.

I watched. I waited.

Shit. Shit. Shit!

She wicked hard to $38,044, took my order for 90% of the payload and I was swimming in profit! My goal was to empty the vast majority of the order on $38,050 and save 10% for a lucky continuation.

$3,004 in my pocket. Steak dinner.

I’d sit and watch it for a bit while also spotting to snipe a long as it reversed itself as a counter-reaction to a large move.

After a few minutes it seemed that she wasn’t going to test $37k and so I emptied the rest of the order — the last remaining 10% of the original order — for another $576 in profit to continue the streak:

But, I told you about the snipe that you can usually pull on a violent reaction, right? I planned that out quickly and got to work to see if I could get a quick win without much effort. On these types of reactionary trades I’m looking for a 5-10% gain, regardless of notional economic outcome.

Typically any bounce, if timed early, can be a winner as long as you don’t hesitate on the trigger to pull it. Greed usually blows these things up in your face.

I planned a 100 point bump, it got placed as an order, and then filled for the first point of profit — another $250 bucks in my pocket. This was getting really interesting at this point and I continued to watch the price action.

Things looked like they were going to head north and so I added a bit more to the current order (that had been dumped out above) and rounded it out at an entry point of $38,230. I didn’t know how far this would run so I kept a watchful eye and planned a full exit when profit was obvious.

During these moments I watch volume like a hawk and I don’t really watch anything else since price action might fool you while volume never does. Profit was starting to compound and usually after I hit anything beyond > 30% ROE I start looking for key exits — it’s not that I don’t like more money it’s just that I like keeping what I’ve gotten so far in my pocket and not having it reverse course on me for a loser.

And making winners into losers is what I know a lot about! So, I quickly dropped this position as well with a full exit of all my bags for another $616 in gains:

That brought the entire Monday morning campaign to a close with two shorts and two longs with multiple entries / exits and points of profit taking which amounted to a notional value of — magically — $4,444!

That’s $3,004 +576 +248 + 616 minus fees, to be precise and so the total take home for this raid was closer to $4,200 in cash and prizes and all the good feels.

And you know what? It gets better.

That bounce isn’t done and so I decided to jump back in with a long after a morning workout and shower since the volume started picking back up in the right direction and some key harmonics were starting to show up that I really liked.

And at this present time I’m sitting in a very good spot and can backstop this trade in profit and take the rest of the day off — already I’m up 20% and could close this now to keep my active campaign alive! Decisions, decisions, decisions…

To infinity & bitcoin,

— 8ɃIT