“Facts are meaningless" - Homer Simpson

10 thg 4, 2021

I've had quite some fun waiting for the Bitcoin move recently. After a great response from the "Buffoonery" post I was asked about some of the tech depth. So I posted The "Rocket" idea - see all of these below in related ideas.

Waiting for things to setup I thought I would play with some art and the chart looked like Bart Simpsons Hairline. So I posted a joke idea which actually got picked as an editor's pick. As our trades are longer type setups it's been great to create some educational posts, I am keen to assist new traders coming to the market. However, along the way you need a little fun. Hence the Simsons post.

I am still a firm believer that BTC needs a retracement for it to go higher - just as suggested in the "route to professional attainment" post.

The facts are COT data shows more shorts than longs. Even more added in yesterday's report.

Grayscale (another post below) have had 30 days of discount offering in the fund.

We have "whales" taking coins from exchanges - this is not what you would assume...

And about an hour ago, I had a friend here send an interesting article bitcoinist.com/this-on-chain-metric-says-bitcoin-risk-is-the-highest-in-three-years/ Thanks MiketheN00B

Monthly stochastic


Respect of an ugly 4 move down


Previous COT post


So to clarify - I am bearish BTC for this move from 3 to 4 (Bullish as a whole) and have held BTC since 2011. So although we are currently not shorting, we are not avid buyers at this overvalued level.

With the previous posts - there's a lot of reason to hold, But there are plenty of reasons to protect the positions and buy value dips.

Although I do enjoy playing with chart art and see the funny side of mixing business & pleasure.

Have a smile, have a laugh and trade safe!

Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.