I Never Bought This Pump - Here's What I Did Instead
You Are Missing Out
When you have spent hours upon hours of ongoing research and analysis you begin to develop a certain conviction. A conviction that is based upon data, which at times, may appear to be incorrect, at least to the bystanders. However, once you have developed a solid case it becomes difficult and even foolish to abandon it, based on the opinions of others. I explained in a recent post the reasons why I avoided this pump and ultimately classed it as a foolish trade. These reasons are highlighted in the post. So for those who were quick to dismiss my analysis and thought that I missed out, let me explain how I played this pump.
Opportunity Within Ignorance
There are many who honestly believe that the bear market is done, they are ignorant of the “transition process”, or simply prefer the blue skies of delusion. Either way, to think that a bear is going to let you off that easily is a bit naive. I have detailed this before to my serious readers. Different groups get drawn into the fake “bear market is over” narrative at different times and they create pockets of liquidity for those who know otherwise. I mentioned numerous times that this was a typical event of whales baiting retail. Here’s how I made money from the actions of those who refused to use facts and data but sided on the side of their strong opinions.
Sold The Top
I sold a portion of my Solana and Avalanche holdings when BTC was just under $24K. I have set orders to buy back lower and simultaneously increase my coins, ultimately increasing my holdings and subsequently increasing my future profits. I did the same thing with one of my micro-cap coins. Currently, I can buy back my initial position with a 30% increase in holdings. There’s no such thing as missing a move if you made provision for multiple outcomes in your strategic approaches. I wonder how many were baited by FOMO at $24K?
Short ETH
I put a double whammy in place by shorting ETH at the peak. The trend was broken with a triple top formation. The BTC and ETH volume consistently decreased as the price increased, which was a massive warning sign that fell on deaf ears. One of the first things you learn about trading is that volume is required to sustain moves. What I have noted over the past few months across multiple Crypto-based platforms is a lot of VERY strong opinions with little to no understanding of market dynamics. It really doesn’t matter how strong your opinion is. I can be quietly accurate, while the majority remain unaware.
In a world that trains you to act this way, shouldn’t you behave differently if you are offended by the current systems and how they operate? A world where false narratives are promoted as truth. The truth remains the truth, even if I whisper it. A lie remains a lie even if you shout it from the mountain tops. This pump was a lie. The Facts were given to prove it false in my post, “Why I never Bought Into The Recent Pump”.
Final Thoughts
This is a game that revolves around data and facts. Unless you know the rules of a game you are going to find yourself sent off the field. Humility is a more valuable virtue than a strong opinion. Humility is teachable, while a strong opinion is constantly defended by its owner, often, even after being proven false. You cannot fix what you are unable to accept is broken. This ultimately means repeating the same mistakes.
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
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