Here was expecting a fake out to the downside where people get caught offsides selling the lows
Now most people had invalidations at like 51-53k for where they would buy back but really it should've been 58k-60.7k technically
This is important bc people who have been short are selling then taking profits on the way down. So closing shorts isn't necessarily that bears are fucked. Price might be going up bc they are taking profits. But what was left there was really tight and compact lower highs
Where bears are waiting. Now all the people with ran stops, and late buyers have the market reversed on them. They create your fuel for the downside move
It's not a perfect system but you have to change how you think about the markets. It's all about liquidity, game theory, and probabilities
Same thing imo happened at 40.7k
You have to trade a different game
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1/11
I want to discuss some exciting changes in regards to the tokenomics on $MC but as with anything. Good things take time. Some of the changes include token burns, buybacks, and in the future strategic OTC lockups creating a supply sink so tokens don't hit the open market
2/11
Recently the MIP-7 DAO proposal passed that makes changes to realized gains. Some of those changes are as follows:
20% of proceeds are sent back to the USDC treasury
5% will be sent back as $ETH and $WBTC
3/11
60% will be used to create a strong support 25% below price on chain using 1inch exchange with price adjusted every 7 days to help create a strong support.
These can be burned or sold to strategic investors depending on DAO governance
While I've written a lot about macro bear stuff as of late. One thing I always try to remember is "Being a bear is tough" Downside is limited and upside is. Well. Unlimited. So what is the bullish case?
Global adoption
In the event that happens I believe we will see 2 other countries follow suit from South America on the path of adoption. Yes, they will be small
𝐺𝑟𝑎𝑑𝑢𝑎𝑙𝑙𝑦, 𝑡ℎ𝑒𝑛 𝑠𝑢𝑑𝑑𝑒𝑛𝑙𝑦
Like a set of domino's and when talking years down the road. I think it starts here
Personally don't believe in new ATH's this year. and of course would love to be proven wrong. But I think it's important to recognize this market isn't going anywhere and we've come a long way. There's a lot to look forward to even if the impacts aren't noticed right away.
GM
I think it’s wise on significant bounces to consider removing a good amount of your capital from the market Especially if 1. You’ve made it 2. Can’t afford to lose it
As stated I think this year is a year people lose most if not all for many reasons laid out.
In 2018 I made the mistake many of you have already made or are making. And have mostly been risk off as opposed to on the past months. I personally feel and have laid out the reasons why I believe the markets have a lot more to bleed out as a whole
I’ll be making concentrated bets in a few sectors in the market and taking 80% out as I’m still very close to my latest ath’s. You can always deploy into strength when the market shows you it’s time on a high time frame reversal or months from now after alts gave made many Lh’s
GM!
Now is a good time for a little education imo. How many fiat currencies have survived the test of time? Zero. A lot of similarities today with how the Roman Empire fell. But also imo the same thing that happens in our market. DILUTION 👇
The same way NFT’s fell apart, ICO’, etc in this market often have the same catalyst. Over-saturation of projects eventually exceed demand and supply dominates = people leave and volume drop