"Sideliner" thread 🧵

Say you just entered this market & have 0 crypto exposure but have USD.
You naturally want to buy but not sure if its the right time to ape.
Considering we have been pumping for quite some time this is indeed a tough decision.

Here are some thoughts 👇 Bull market corrections can be brutal & disorienting. Although they are healthy for the overall state of the market, they tend to test your conviction.

Its much more comfortable sitting out market perturbations in some nice profit (albeit unrealized) from lower entries.

1/ Thread
$BTC
Since everybody is mega bullish, I'm gonna be a devil's advocate and try to make a case for a coming correction. How to play it and few things you should pay attention to 2/
First, let's brush up on history (which doesn't repeat but often rhymes)
In 2015, we had pretty similar parabolic run (~150% vs 140% now) which marked the beginning of the new bull market. After it topped off, it corrected to 0.618 Fib and made major S/R flip.

Arguably the best advice for traders (especially beginners) is to - decrease your risk/position size. Many recommend utilizing 2-3% risk per trade, but I'd say you can go as low as 0.5%. That's ok, lower your expectation and forget about "quick buck" mentality Also, be down to earth and set realistic goals. 10% equity growth per month is a very good result. Don't get tricked by all these flash 1000% ROE screenshots on CT, most can't keep them at the end of the month. 10%/month but consistently will prob put you in top 10% of traders

1/ Just judging by the structure of all down legs in 2018, they followed a pretty simple sequence: distribution - re-distribution (at least 1, if not 2-3) - accumulation (local bottom).
Current structure telling nothing but a continuation (break down) is very likely 2/ These are so called SSR (stepping stone redistribution/reaccumulation).
Unless a miracle happens, BTC is headed to at best test yearly lows, at worst - break them which will start the final stages of bear market (can last weeks to months)
You should be already prepared for it

Shorts ATH again, what could possibly go wrong? Johnny, shorts keep on adding weight faster than your mama, be careful

#BTC
Wyckoff update
Full detailed description of first and third laws of Wyckoff (supply & demand and effort vs. result) #BTC
Wyckoff update
...wait...wyckOFF...bognanOFF...smth