CRYPTO MECHANIC

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There was a time when crypto was insanely volatile on weekends. Now, it barely moves.

We all are goin to be rich it is just a matter of when.

We need more and more people to start hating crypto so crypto can Bottom.

Catching big waves and making big money isn’t easy.
You have to go through a series of pullbacks, a series of negative PnLs and then you finally get it.
The majority right now is waiting to catch bitcoin’s Bottom but most of them will end up selling too early or sell in loss.

It takes patience.
It takes conviction.

$SNDK +20% move from that breakout.
Price is now trading around 1600-1700 supply area in pre market.

Good spot to start taking some profits off the table and let some run.

When you have a plan and know exactly what you're expecting, you're prepared when things start moving.
You already know where you want to buy, where you're wrong, and how you're going to react.

But when you don't have a plan, you run the risk of reacting to the market.
You want to impose your plan on the market, not let every candle dictate a new plan for you.

it should always be "I want to buy where I want to buy, for the reasons I want to buy". Do not let the market dictate your plan for you.

Have a plan. Then react accordingly.
When you don't have a plan, you react emotionally and impulsively to every move.
And eventually, you'll end up screwing yourself over.

For the last few weeks, I’ve been observing the moves on some good stocks with strong volatility and volume.

I’ve been watching how price reacts to breakouts, fakeouts, earnings, pullbacks and continuation setups.

Honestly, I’ve been learning a lot just by observing these market movements.

I haven’t shared most of these on my profile besides SNDK and MU. I don’t want to share trades just to pretend that I know everything.

I obviously don’t.

This market is still new to me, so I’m taking my time, observing, learning and understanding how these stocks actually move.

There’s a lot to learn, and I’d rather spend time learning properly than pretending I already know it all.

$SNDK

Broke out 1330, retested it and gave a nice continuation up.

New high on Spx and then there is…..

$BTC Got rejected from that high volume area.

Still a range overall. If it dips down to the range lows, that would be something to observe.

Every day for the last 3 days, right around 8:00 AM, just before/at the US stock market open, they’ve been slamming Bitcoin.

The inflation data was good for Risk on Assets and it looks like crypto is the only risk off Asset, i thought it was Gold 😂😂

We all should thank Binance for giving us Stocks to trade while Crypto is doing nothing.

July U.S. Inflation Data is out

CPI: 3.4% YoY — Expected 3.4%
CPI: 0.1% MoM — Expected 0.1%
Core CPI: 2.5% YoY — Expected 2.5%
Core CPI: 0.2% MoM — Expected 0.2%

Everything came exactly in line with expectations.
So what does this mean for the market?

Inflation isn't getting worse than expected, which is the good news. But it also isn't cooling faster than expected.
This means the data is neutral to slightly positive for risk assets like stocks and crypto.

However, inflation is still above the Fed's 2% target. so this data alone probably won't completely remove the possibility of further rate hikes.

Most people don’t lose money during a downtrend.
They lose money during the chop, constantly thinking:
“This could be the bottom.”

They keep buying every dip, trying to catch the reversal.
And when the market finally finds a bottom, they’re either liquidated or sitting on a terrible average.

Goes out for a walk and you all dumped the market.

Pretty clean downtrend on the $SNDK daily chart.
Just need a break and this becomes a buy, until that happens, There is nothing for me.

8 months later, What Crypto did?

Bearish and Sideways 🤝

$XAU has been up only since that breakout.