A record of proceedings: BTC and the 5-3K Drop.

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin is dropping hard. I made this chart a wee while ago, but the call of a drop the completion of the H&S line is a pretty easy one at this point.

ON THE OTHER HAND if BTC decides to make a (~$10.00) higher low on the hourly (highly doubtful) a pullback could be negotiated.

It all depends on the ~8125 level. OOPS! Wait, nevermind. That's just broken as I'm typing...

... brb gonna short...

Okay, I'm back. If I'm wrong, ya'll can flame me all you want.

So, I remember some mention some time ago about a huge number of orders waiting for BTC at 2999. I remember looking at the volume pricing at that level and thinking "Holy fuck-shart that's a lot of orders." This was WAY back when BTC was at 10K and I thought "That's ridiculous! Bitcoin will NEVER drop below 10K again." And all those "h8erz" (@Goldbug1, Sean whathisface who'se nowhere to be seen now) all said it was going down. Which it didn't of course. It climbed up to 19.9K before they were ever proved right. But boy, were they ever right.

Now Goldbug1 is saying buy, and he's still wrong, but he'll eventually be right, and it will moon so hard the FOMO will make people shit their pants harder than they ever shat when it went down to 6K again.

I mean, I got in earlier than all that and I'm still shitting my pants. I'm just also wearing diapers. (That's a metaphor for having taken meager profit - enough to cover original investment.) But even scaling in is a risk and can feel terrifying when the bottom is infinite . (That's a metaphor for $0.00, or nothing. Hey! Nothing == Infinity. I just taught you philosophy. You're welcome. *mic drop)

Anyway, if you lose it all, just remember; laughter, good friends, good food, good drinks, and blowjobs are what you're trying to buy with all that money, but you can get all those things for free with a little elbow grease. So HODL. Or short. Or whatever. Just don't walk away. It's like some asshole said once:

"You gotta know when to hold 'em, know when to fold 'em, know when to walk away, know when to run."

All the best,

Trade closed: target reached: Well, it took a while, but we finally made it.
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