Hello my fellow satoshi snipers!
You can literally smell, taste, and touch the fear in the market as most (future options) players have bled out or sidelined themselves to wait for more “rosier” conditions.
Counter-intuitively, this is actually a perfect time to trade because the AlgoBots are running the show which increases our ability to spot their movements, now without retail interference or tomfoolery.
Another strong signal was a new, all-time low on the Fear & Greed index:
Folks were shook! That means it’s time to build some trades!
Consequently, I was able to take all of the fear that had forced market participants out and walk into a Monday morning doing a handful of trades with more than $3,000 in net earnings which I was able to convert to > 10,000,000 satoshis (at the current spot price). The stack keeps growing!
Let’s take a look at how I did this, shall we?
Starting with a few confluences I began to watch for the ever-critical $30,000 price level and see if the battle would, again, rage hard as buyers and sellers tried to figure out what was actually happening in the market.
What I’d eventually do is literally long / short the dance around the $30k price until she was exhausted and determined a side to stick to — we’ll first start with a long via that larger Cypher and it’s possible PRZ (price reversal zone):
I put in the order and we were quickly into profit:
More than likely on days like today, especially after a week of blood, you want to be very quick with these satoshi snipes so you can take your winnings and watch a winning trade become a serious loser.
The question, of course, is how long to hold the position until partial or full close so I continued to track volume on the 1 minute and 15 minute timeframes:
Things were headed nicely up in momentum and down in volume meaning that a possible “burst” of activity to the upside (or down) could result in hitting those maximal PRZ’s which would create a good amount of profit.
Like this:
Fortunately, we’d have more to ride on this one and I could literally watch the profit grow as it neared my $1,000 target:
It didn’t take too long:
So we just waited more:
And then when it crossed > $1k in unrealized profit I began thinking about exits:
First I backstopped the position so that regardless of price action I’d come away with a winning trade and then I began to identify strong targets.
I put the backstop here, as you can see:
Now, the real games begin! Stop loss hunting! We had already crossed over $1,700+ in unrealized gains so I’d want to be certain to at-least capture that.
I set targets around $30,333 but knew that I probably wouldn’t be around to see it hit that number, especially because I don’t like babysitting anything for too long.
I put my order in anyways and then was ready to do a quick exit on a reversal that I didn’t like, which actually ended up coming sooner after the first, large rise:
That first run didn’t quite hit so I decided to take my winnings and look for another entry later, after lunch perhaps:
I put in an order to exit at around the $1,700 mark and waited for magic. Either I’d get lucky or I’d leave a bit on the table. That was okay though as there were more trades to come later on in the day.
She quickly hit my lower order and I was out of the trade — a cool $1,700+ bucks and steak dinner (with shrimp) tonight! I was already very happy with my Monday morning trading desk results and I could have stopped right there.
Now, for the fade! A few new harmonics were built on that last rise and so I began to track those as well for a nice short.
Maybe we could keep this game going a few more rounds?
8ƀit @8BIT
and... i'm out. ... will have a more detailed write-up of this profitable $btc "satoshi snipe" in tomorrow's newsletter (or maybe today's if i can get my shit together). ... left a bit on the table but i'm okay with that; steak dinner with > $1,700+ in net profit. 💰🎯 https://t.co/y7yC9QzDphIf she wasn’t going to give me the long that I wanted then I’d make up a few bucks on the reactionary fade, right? Always good to hit these quickly for a nice satoshi snipe!
Let’s goooooo!
A quick snipe with a close — I could do this all day bitcoin!
Then, she bounced. So, we did it again:
Another $300+ in profits, in my pocket and not going back into the market.
At this point I was pretty tired so I closed up shop for the day and looked at $2,200+ in net gains for just bouncing around the $30,000 zone. Happy with the results I took the rest of the day off (and the next!) because you can do that as a trader, especially when you have better than average days like today.
Besides, there is always more money available and as I jumped back into the market today (Wednesday) I easily started the same process, just 1,000 points lower:
With an early win already:
This is how it’s done folks — not rocket science but simple plans with simple systems and as long as you don’t get greedy you’ll be just fine.
The lesson here is this: When there’s rampant fear in the market it reduces the number of retail players and leaves just a little more wiggle room to identify market maker activity as well as larger institutions who are playing algorithmically-based buying and selling in the open.
This means you can literally “pivot” your trades (shorts / longs) around a price zone and just take cabbage as you see fit. This is effectively what they are doing anyways with your money, you just didn’t know it.
But, now you do.
To infinity & bitcoin,
— 8ɃIT
Create your profile
Only paid subscribers can comment on this post
Check your email
For your security, we need to re-authenticate you.
Click the link we sent to , or click here to sign in.