What a beauty!

4 thg 11, 2020

Let me get this out of the way first:
See that dashed blue line that we broke out of at 12K ?
(I know it's not super accurate)
My eyes are on a retest of that line .. let's say, something somewhere around 11.5k.
(Possibly a short lived dip below that to maybe 10.8k-ish)
I'm a huge fan of stacking discounted sats, so I'm very much in favour of that scenario.

Now i have this to say:
This price we're at right now is a pretty huge fxckn deal.
Breaking and sustaining this area of above 14K is a big psychological level to check off.
Lots of people will start to feel seriously uncomfortable if they're either underinvested,
or worse, not invested at all yet.
The irony of this asset: The more expensive it is, the more irresistible it becomes.
Scarcity. Very big deal.

Now all of that of course has to come with a warning,
so nobody becomes too bullish here.
We are overextended.
Worst of cases might even send us temporarily to 9.5k ...
are you comfortable with that in mind?

The name of the game in this market is
"Stay alive".
Meaning you have to be highly alert, when it comes to risk management.
Your BTC will survive any volatility in cold storage with your keys properly secured.
If you're going in all degenerative, longing and shorting left and right,
your chances of blowing up are very high.

Now, contrary to many in Bitcoin, I would never discourage trading;
even using leverage and going full risk on is fine in my opinion —
as long as you know what you're doing and you are fine with taking the risk!

Volatility is inherent in this market. Shake-outs, Barts, massive liquidation events ...
all of this has a way of happening when you least expect it.

I am hyper bullish on Bitcoin and I believe it's going to take us to places many of us can't even imagine.
But if you want to be here 10 years from now, you have to be mindful in how you approach this market.
Set some aside for the long term. Trade some.
But whatever your style, the most important thing you can do
is to learn as much as you can about what this is and what it all means.

This market is such a beauty right now, it's super easy to fall in love here;
make sure you'll be able to treat her right when she's at her worst, too.

Stay safe.
Stack sats.
Be kind.