I didn’t make any money on this drop—I lost just a tiny bit. In the past, I probably would’ve been liquidated by now. I’m much calmer than I used to be, and I understand the tricks capitalists play a lot better, so I’ll never get liquidated again—unless we get another “10.11.” If that really happens, I believe 40% of traders will leave this market. When I saw a drop like this yesterday, I actually thought it was pretty normal. The plunge before Google’s earnings report came out the day before yesterday had already signaled a stock market crisis. I closed all my positions then, and sure enough, the market plunged that night. But it bounced back the next day. Bitcoin also didn’t break through 82,000, so I didn’t chase the rally—I closed my positions and stayed on the sidelines. Last night, I opened two short positions, which helped hedge the long position I’m holding. I was planning to hold that one long-term anyway, so I’m not worried! We can’t predict this market, especially black swan events. But intuition can help us make the right call. For example, bull markets have plenty of wicks that flush out leverage. In the long run, that’s actually a good thing—as long as you survive! Keep it up 👏
The next wave of Bitcoin’s rise will definitely be different from the previous one—it won’t give you the chance to react and build a position. The position I entered at 58,900: during the first wave, I also thought it would go down to 55,000, but it didn’t. Then in the second wave it reached 57,800, and I thought it would fall again. In fact, once that previous bearish candle failed to break below, it was already destined to be the final downswing. When everyone is waiting for the same kind of thing as in the last cycle, there’s a good chance it won’t follow the same old rules. For example, this round of altcoins is really pitiful—most of them have fallen by over a hundred times. So yes, cycles exist, but when everyone believes that everything in each cycle will remain unchanged, then there will likely be some differences. In the next round of Bitcoin bull market, the top will certainly reach 300,000. And if it goes to 300,000 and then drops again to around 126,000—the approximate peak of the last bull market—then the script will basically be the same. If you look at it through this logic, then the previous cycle’s altcoin sell-off was laying the groundwork for the next bull market!
The idea behind this short trade is simple: the price has hit 1200 countless times, then quickly bounced back to 1300, even 1400! So below 1200 is everyone’s ideal spot to go long, and most people will get trapped there. It’s unlikely to go back up in the short term. On top of that, the broader market is falling, the situation is unstable, and earnings season is over—so it’s your turn to fall too. Otherwise, how will you rise next time? The stock was already overvalued and driven by hype; this pullback is simply paving the way for healthier gains later! That’s why I didn’t short at 1200, but instead scaled into a short position six times below 1200, moving my stop-loss from an initial range of 1163 to 1150, then quickly setting it to 1133 at 1130, because resistance here is very strong. There’s a good chance it’ll bounce a little before coming back down. Since I scaled into the position, I’m taking profits and playing it safe!
My fastest-ever profit was $5,000 in 12 minutes. The long/short ratio is terrifying. I lost on my first trade and immediately opened a second one, but my position was gone within seconds. It scared the hell out of me 🤯
Some people are telling me to get out and take my profits! Brothers, the game isn’t over yet—we’ve still got chips on the table. Even if I wanted to leave, those shady market makers wouldn’t let me. I’m holding on! Let’s outlast them! 💪