These past two days after the security incident, half the feed has been cursing and the other half buying the dip—$BTC first got knocked down to around 77,000, and today I saw news that withdrawals are gradually resuming. What matters more to me isn’t who guessed the “bottom” right, but whether you quietly loosened your position rules during the noisiest few hours.
The people who took ugly losses on the day of the incident often didn’t get the direction wrong. It was leverage and limits getting pushed higher by emotion: withdrawals paused, liquidations piling up, the group chat full of “going all in on the rebound”—and their hands moving faster than their brains.
The official statement says the impact was around the $6.3 billion mark, the company will backstop the funds, and withdrawals will resume in phases. Check the announcements for updates; don’t rely on random online speculation. On the trading side, I only focus on three basic things:
1) Lock in per-trade and total limits first—don’t “temporarily add one more lot to average down”
2) If you can’t clearly explain why you’re adding or reducing your position, don’t do it
3) Change your rules after you’ve had time to cool down, not during the few minutes when liquidations are most concentrated
Image one is a reference for recent developments; image two is a reminder to myself. I’m not calling a bull or bear market, and I’m not telling you to go all in.
Which worries you more: volatility taking another swipe after withdrawals resume, or having added to your position too early? Pick one in the comments, follow each other, and I’ll post daily at this pace.
For discussion only; not investment advice. Futures trading involves risk—position management comes first. Refer to official announcements.
$BTC $ETH $BNB
#BTC #Bitcoin #Crypto
The people who took ugly losses on the day of the incident often didn’t get the direction wrong. It was leverage and limits getting pushed higher by emotion: withdrawals paused, liquidations piling up, the group chat full of “going all in on the rebound”—and their hands moving faster than their brains.
The official statement says the impact was around the $6.3 billion mark, the company will backstop the funds, and withdrawals will resume in phases. Check the announcements for updates; don’t rely on random online speculation. On the trading side, I only focus on three basic things:
1) Lock in per-trade and total limits first—don’t “temporarily add one more lot to average down”
2) If you can’t clearly explain why you’re adding or reducing your position, don’t do it
3) Change your rules after you’ve had time to cool down, not during the few minutes when liquidations are most concentrated
Image one is a reference for recent developments; image two is a reminder to myself. I’m not calling a bull or bear market, and I’m not telling you to go all in.
Which worries you more: volatility taking another swipe after withdrawals resume, or having added to your position too early? Pick one in the comments, follow each other, and I’ll post daily at this pace.
For discussion only; not investment advice. Futures trading involves risk—position management comes first. Refer to official announcements.
$BTC $ETH $BNB
#BTC #Bitcoin #Crypto
