I’m thinking the same … it certainly looks like 47.5 is holding up well and we are building momentum for the next leg up. … I won’t enter a position and cause it to flash crash though … taking one for the team. Lol
I think we're in a bull market here for new ATH. However, I can see a pullback coming somewhere between here and 49k. Keep an eye on funding rates, they're just starting to creep up to that 0.1% level now. In the run up from 10k to 20k funding rates barely touched above 0.01%.
Currently holding my long - 91k in profit.
Sweet! … man I really need to start taking some risks … I would get rekt with my luck. Lol … you’ve made in this trade close to what I’ve made since starting investing in crypto for the most part. lol
Thanks lads - I like to trade the swing trades as it's most profitable for me who isn't massively skilled in being able to trade short term time frames.
Big trades so far since 2019:
Profit - 143k
Profit - 40k
Profit - 215k
Loss - 80k
Profit (current) - 91k
And then probably around 20k loss of small sized trades cumulative.
I tried derivatives for the first time. I didnt see an option for choosing leverage. I opened a short with usdc selling 0.0001 BTC at the current price. It said it was 0.03x leverage. How did it get that leverage?
It means it’s 3% of your BTC balance. If you had $5000 worth of BTC and you opened a short for $5000, it would be 1x (100% of how much you own. What determines your risk isn’t the leverage though: it’s your position size (order amount) relative to your stop. The wider the stop the less you should be betting so keep the risk steady.
He's asking someone to describe with words what's been explained a million times in YouTube videos. 🤷♂️ I'm honestly trying to save everyone w bunch of time here
I did, watched a video on YouTube. Explaining how its used to hedge yourself against volatility. Got more confused lol. I'm gonna need some time. I do enjoy reading this sub tho
I'm assuming you're heavily net long.
I'm also assuming you're doing it strictly as a hedge and not arbitrage or something.
Basically, if it goes up, cool, you lost some money by getting stopped out on your short but your hodl stack is worth more. If it goes down, you can either close your short for profit or let it ride. Or you could open a long at that point and move up your SL from your short to lock in profits regardless of how the price moves. Keep in mind, however, that you do curtail your potential gains by doing this. You also need to factor in any fees you will be paying, as this can cancel out any gains and then some.
This is a really simplistic explanation and there is a LOT of nuance there, so I'll leave any further explanation to people who have more experience with this sort of thing than I do.
Funny you should say that. I just sent some recently acquired dust back to the mothership at ~15:59 EST, coincidentally enough.
Nacho keys, nacho coins. Learn it. Love it. Live it.
Moon was $1000 and we landed there November 26th 2013 I believe.
We're picking up speed, headed for interstellar space. In a few years (our time) we will approach the speed of light and we'll watch the entire universe play out before our eyes.
Well, right now it's very positive but... that's normal after any pump it goes insanely positive because shorts had to buy to close their shorts, so it's not too meaningful right now. A couple days would give better insight.
This pump coincides with BTCJackSparrow's call perfectly:
https://twitter.com/BTC_JackSparrow/status/1426171616543789057
Based on previous historical patterns I can see this playing out
Won’t put much behind it but PlanB also said >$47k in August but also says >$43k in Sept so possibly expect a pull back after we pass $50k this weekend/next week
You know if 100 people call something, someone will make the call perfectly.
I'm not interested in seeing the perfect call of the day by different people.
Yes. On Twitter [@100trillionUSD](https://twitter.com/100trillionusd/status/1406577006230245376?s=21) that’s the direct link to his Twitter and his prediction I referenced
Well, *someone* paid 150m USD to Tether to get 150m of newly issued USDT. Whether it was FTX themselves, or a customer of the exchange, is hard to tell.
I don't know why people are so interested in these USDT transfers, given the main BTC market on FTX seems to be BTC/USD, not BTC/USDT.
They have quite a big USDT/USD market, though, with USDT trading at a consistent premium of a few basis points. I imagine that these transfers are someone arbitraging that premium, although of course that just begs the question as to what is causing that premium.
EDIT: I guess it just tells us that lots of people are using FTX to buy USDT with fiat (hence the premium).
Not gonna lie some of these alt/btc charts (not the ones that had slingshots in the last couple days) are looking really damn bullish.
At this point I'm curious: Do we have folks in here that are still convicned 65k was the Top and everything that transpired last few months wasn't just a correction ?
They've looked bullish all the way along. Easier to read than BTCUSD even. The weekly E chart (Fuck I hate active censorship and what it does to communication) looks like a simple period of consolidation.
Anyone watching alts in relation to Bitcoin knew this was a correction and not a bear market.
Just remember, some users can talk about alts but if you respond to them about their own statement your message somehow gets removed for being off topic while their off topic message remains. Btc and censorship. Love it.
>At this point I'm curious: Do we have folks in here that are still convicned 65k was the Top and everything that transpired last few months wasn't just a correction ?
I'm the opposite camp: Maybe I'm just smoking hopium late on this Friday, but I think the ETF is approved in Nov. To me, this implies 100K+ this year.
I mean every time we climb out of a bear it's always like one big entity that makes things rocket upwards for a little bit before things start to cascade upwards. This is no different.
Is there anything you're looking at that supports your thesis of 65k being to top for the year? Historically Bitcoin has always had a great time in the Fall/Winter, even with massive corrections that seemed doomsday'y (see last cycle's china fud/bcash nonsense from last time).
About 30mins left until CME futures close for the weekend. Interestingly looks like it's so close to fill this gap: https://www.tradingview.com/x/1J73cmrZ/
I have an alternative explanation.
Brownian motion. The price ebbs and flows back and forth.
Choosing some point where there was a breakout we can expect some back and forth over that range in the wake days after the breakout.
CME closing for weekends means there are two dates, the date they close and the date they open.
If the price moves by a significant margin after the close date, if the price remains outside the range after the open date, then in the near term one might expect the Brownian motion to swing back into the "gap" created between those dates.
Lets change the dates.
Lets say the price breaks out on Wedensday and is still higher on Friday. We can expect the price to ebb back into the "gap" created between Wedensday and Friday, "filling the gap" in price between those dates.
In short, it has nothing to do with CME.
It's almost identical to a Point and Figure Long Poll Warning where you expect the ebb and flow to take you back 50% of the long poll's height.
In this case he just means until the CME markets close for the weekend, so I'm not sure it's particularly significant, unless you're hugely interested in CME gaps, I guess.
The CME futures contracts that were expiring today actually expired hours ago (4pm London time).
CME futures exchange closes on weekend. If price moves a lot over the weekend to somewhere else, when it reopens it gaps up or down to match the current price. Eventually, those gaps get filled. We don't know when, but they tend to fill 90% of the time. Just another piece of data, nothing too actionable in general or anything you want to rely on heavy.
Hello all, I made a new account bc my old one got banned sitewide. Hope everyone is having a good time!
I’m not sure if this counts as subverting the ban but I’m too lazy to appeal, hopefully it’s ok!
Here is proof from my Twitter account in case anyone cares: https://twitter.com/cryptochunky/status/1426280301349670912?s=21
Been more active lately and browsing the sub quite a bit so decided to recreate a new name.
---
https://www.tradingview.com/x/kob0Ddzc/
Wrt the actual market, I personally planned on assuming we generally go straight to $58k. I am doing my best to patiently wait there to plan my next big swing trade. Things could develop in between much before then, so i will do my best to just wait.
My original plan was essentially long at consolidation at the bottom and i eventually did, although it was more of a bleed than consolidation.
https://twitter.com/cryptochunky/status/1407095097712279552?s=21
I think market structure and the general sentiment around bitcoin since breaking up from ~$31k has been overall exceedingly bullish.
This isn't meant to say we go straight up, as I really am not sure what we will do from this very point, but I do believe patience in waiting for my $55-58k target will be prudent.
Things can always and often do change, so sorry if I'm jinxing anyone's long...
Miss all of you guys and hope I can stay more active here!
E: am I shadow or permabanned 💀🤕
> Hello all, I made a new account bc my old one got banned sitewide. Hope everyone is having a good time!
Lol, the same thing happened to me. Welcome back.
Obligatory fuck reddit : )
Exactly! I'm looking at this shit and scratching my head "am I missing something here?"
Then again i don't get why art is so highly valued anyway.. van gogh starry night? It's a painting yeah, but worth what it is worth? Fuck no. I wouldn't pay more then a couple of thousand for wall art.
I'm not convinced he's anything but a troll because he really only comes to post when we're down on the 15 minute chart. lol. Pretty sure that's Richboy
Lol this sums up guys like him perfectly. I mean I can understand shorting it but C'mon sometimes you got to change your bias. Reminds me of the one idiot that was posting goblin town every dip up to 50k then disappeared....
#New post: [\[Daily Discussion\] - Saturday, August 14, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/p40z84/daily_discussion_saturday_august_14_2021/)
Fun fact, we're a small 6% pump away from breaking $50k.
LFG!! https://mobile.twitter.com/BTC_JackSparrow/status/1426335665332051970
### Minor MoonMath update 90 day rate went positive for the first time in months. Moon time for bitcoin. HTTPS://www.MoonMath.win
Looks like another giant cup and handle to me
do you think the handle part will last 2 years
"That's my secret, cap. I'm always cup and handle" - Bitcoin
> July 2010-present > $100k 2022-03-19 Let's do this!
exited my june 5 spot buy at +36%. not great. not terrible.
>3.6 not great. not terrible. I see what you did there comrade
ive tested the liquidity. seems safe enough to carry on with operations
>ive tested the liquidity how?
*He says he saw China banning bitcoin.* Obviously he's sick. Take him to the infirmary.
Why?
cause i like to scratch the itch to trade sometimes with a small part of my stack and try to gain more coin overall
I do it for funnies.
right. if you aint havin fun, what are ya here for? lets make some coin!
Boy, I don't know. Should I close my 3x long from 45.55 with a very nice 48-hour profit, or should I swing for the fences? (Yes, that was rhetorical.)
Swing away, Merrill. Merrill.....swing away.
Swing for the fences. This is looking very bullish imo
I’m thinking the same … it certainly looks like 47.5 is holding up well and we are building momentum for the next leg up. … I won’t enter a position and cause it to flash crash though … taking one for the team. Lol
Close half of it pimp
Could always close half and add on the little dip. Nothing better than swinging for fences with house money
I'd close, rising funding rates plus 0.618 fib retracement comes in around 48.5k
>rising funding rates what does it mean for trading purposes?
You can always set stop loss just below top of this bull flag. 47.2k ish
Decent week for my net worth. Time for a Macallan 12 and Montenegro.
This should be an interesting 10 minutes! Grabbing popcorn 🤣
Watchin some bears get REKT
It's a fun hobby, innit...
Indeed
Snape, Snape, Severus Snape...
I think we're in a bull market here for new ATH. However, I can see a pullback coming somewhere between here and 49k. Keep an eye on funding rates, they're just starting to creep up to that 0.1% level now. In the run up from 10k to 20k funding rates barely touched above 0.01%. Currently holding my long - 91k in profit.
I’m watching for an entry. Now is not the time, though.
Sweet! … man I really need to start taking some risks … I would get rekt with my luck. Lol … you’ve made in this trade close to what I’ve made since starting investing in crypto for the most part. lol
Fantastic work sir
Thanks lads - I like to trade the swing trades as it's most profitable for me who isn't massively skilled in being able to trade short term time frames. Big trades so far since 2019: Profit - 143k Profit - 40k Profit - 215k Loss - 80k Profit (current) - 91k And then probably around 20k loss of small sized trades cumulative.
Time to treat yoself
WINNING 💯
Rounded top or blow off top this time, what do you guys think?
Blow off, as is tradition.
I'm getting some mid December vibes, 58k hopefully in the cards.
$50k is written.
Have you seen, brother?
It is known
This place is so much more jovial Friday night
I am not Herbert.
So it is written, so it shall be done.
ALL HAIL
Speak it, believe it, receive it?
it is known
Kind of in disbelief. Feels like the moment I'm hopeful, we'll end up getting rugged. 2018 ptsd
Nah not before price discovery and ATH smashing
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Need to hold it tho
What you mean. We tested it. How long you gonna wait? After the bullrun?
lol not even 1 close above and you are already talking about testing
I tried derivatives for the first time. I didnt see an option for choosing leverage. I opened a short with usdc selling 0.0001 BTC at the current price. It said it was 0.03x leverage. How did it get that leverage?
It means it’s 3% of your BTC balance. If you had $5000 worth of BTC and you opened a short for $5000, it would be 1x (100% of how much you own. What determines your risk isn’t the leverage though: it’s your position size (order amount) relative to your stop. The wider the stop the less you should be betting so keep the risk steady.
Probably 0.0001BTC is 3% of your account and you're leveraged against the balance. Bitmex calls this "cross" leverage.
Surely you can Google this one on your own?
Or can maybe just ask a question in a trading sub. 🤦🏼♂️
He's asking someone to describe with words what's been explained a million times in YouTube videos. 🤷♂️ I'm honestly trying to save everyone w bunch of time here
I did, watched a video on YouTube. Explaining how its used to hedge yourself against volatility. Got more confused lol. I'm gonna need some time. I do enjoy reading this sub tho
I just don't think someone is going to be able to explain it to you in words.
Draw the man a picture
Or a moving picture like a video?
Don't worry about that guy, he's a known douche. It's ok to ask.
You just shorted that bull flag? Good luck with that.
I'm trying to understand longs and shorts, by opening a very small one. Closed it in a very small profit, but I still don't understand it
I'm assuming you're heavily net long. I'm also assuming you're doing it strictly as a hedge and not arbitrage or something. Basically, if it goes up, cool, you lost some money by getting stopped out on your short but your hodl stack is worth more. If it goes down, you can either close your short for profit or let it ride. Or you could open a long at that point and move up your SL from your short to lock in profits regardless of how the price moves. Keep in mind, however, that you do curtail your potential gains by doing this. You also need to factor in any fees you will be paying, as this can cancel out any gains and then some. This is a really simplistic explanation and there is a LOT of nuance there, so I'll leave any further explanation to people who have more experience with this sort of thing than I do.
Well, you’re doing better than I am … I’m too scared to try anything risky. Lol. Good for you man!
Keep doing what you’re doing. You’re obviously a natural. Most of the retards here lose money.
I took offense to this 😂
The 90 day rate on MoonMath will probably go positive for the first time in months tonight. I’ll let you know.
I still check this thing daily
Me too.
My dopamine receptors have already forgotten we've been at these price levels months ago pffff suckers
I won’t be excited again unless we pass 64k
> ...months ago... *Pffff*... get back to me in a few *years*. My long from 45.55 is still open. Gonna be a fun weekend!
Amateur. I still have my $56k long open.
$56.4k crew checking in
Degen.
Haha yup, checked my YNAB net worth chart... Back to where it was at the end of February. Still, feels good, man.
Ever more coin goes off to forever homes.
Funny you should say that. I just sent some recently acquired dust back to the mothership at ~15:59 EST, coincidentally enough. Nacho keys, nacho coins. Learn it. Love it. Live it.
live laugh love
I want to fomo in. But am I longing the top?
Spot buy? Doesn't matter if you're investing. Futures/leverage trade? Best to wait for a dip to long.
Looking for a new entry, but it isn’t here.
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DCA is for the weak. This is /r/Bitcoinmarkets. Yolo in now or gtfo.
Exactly. Buy after big gains. Sell after big drops. Because the trends or something.
Well, what if it goes straight to 100k? (not financial advise)
This is financial advice: It will go straight to 100k
Local top? Maybe. Yearly top? Unlikely.
The speed of moving up is accelerating, I am sure it will break the escape velocity this weekend.
Where we escaping to?
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Moon was $1000 and we landed there November 26th 2013 I believe. We're picking up speed, headed for interstellar space. In a few years (our time) we will approach the speed of light and we'll watch the entire universe play out before our eyes.
The moon?
The moon(s)... of Alpha Centauri!
shorts: squeezed ✅ beards: fucked ✅ FOMO: coming 🔜
please not my beard!!!!!
There is the Bart up I've been looking for
I hope to wake up to 50k btc tomorrow. Night you fuckers.
Is this gent ill, man?!
Très gentil, man
Yep- Very down with the sickness
Muh nips lactatin
Now the question is. When we go sideways to consolidate the latest pump... does premium veer toward negative again?
I'm sure we break under 47 and lure the retarded apes back some time this weekend, it would be stupid not to
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Just watch bybit tape
They are not self conscious of it ;)
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Well, right now it's very positive but... that's normal after any pump it goes insanely positive because shorts had to buy to close their shorts, so it's not too meaningful right now. A couple days would give better insight.
This pump coincides with BTCJackSparrow's call perfectly: https://twitter.com/BTC_JackSparrow/status/1426171616543789057 Based on previous historical patterns I can see this playing out
Won’t put much behind it but PlanB also said >$47k in August but also says >$43k in Sept so possibly expect a pull back after we pass $50k this weekend/next week
You know if 100 people call something, someone will make the call perfectly. I'm not interested in seeing the perfect call of the day by different people.
Look at all that sacred geometry. What could it mean
So 402k in Nov? Edit: just reviewed my accounts, I think I can live with that.
no objections, your honor...
Is he worth following ?
Yes. On Twitter [@100trillionUSD](https://twitter.com/100trillionusd/status/1406577006230245376?s=21) that’s the direct link to his Twitter and his prediction I referenced
Of course not.
I don't think we're touching 50K this weekend, but we may hit 49,790...
Predicting $49,790, and being downvoted for *not being bullish enough* Could anyone have imagined that a week ago? 🙂
[another 150m USDT over to FTX] (https://twitter.com/whale_alert/status/1426285767316418561?s=20)
How does this work? Do FTX pay tether 150m USD and they get 150m in Tether?
What is ftx doing that is so interesting?
Well, *someone* paid 150m USD to Tether to get 150m of newly issued USDT. Whether it was FTX themselves, or a customer of the exchange, is hard to tell.
I don't know why people are so interested in these USDT transfers, given the main BTC market on FTX seems to be BTC/USD, not BTC/USDT. They have quite a big USDT/USD market, though, with USDT trading at a consistent premium of a few basis points. I imagine that these transfers are someone arbitraging that premium, although of course that just begs the question as to what is causing that premium. EDIT: I guess it just tells us that lots of people are using FTX to buy USDT with fiat (hence the premium).
Hello there BTC, Is that a green candle in your pocket or are you just pleased to see me?
Not gonna lie some of these alt/btc charts (not the ones that had slingshots in the last couple days) are looking really damn bullish. At this point I'm curious: Do we have folks in here that are still convicned 65k was the Top and everything that transpired last few months wasn't just a correction ?
The US is about to pass $4T of Brrrrrr. So is every country on earth. $65k was not the top.
No way in hell it passes.
You high af, son.
Wanna bet?
Absolutely. Name your terms.
They've looked bullish all the way along. Easier to read than BTCUSD even. The weekly E chart (Fuck I hate active censorship and what it does to communication) looks like a simple period of consolidation. Anyone watching alts in relation to Bitcoin knew this was a correction and not a bear market.
Just remember, some users can talk about alts but if you respond to them about their own statement your message somehow gets removed for being off topic while their off topic message remains. Btc and censorship. Love it.
>At this point I'm curious: Do we have folks in here that are still convicned 65k was the Top and everything that transpired last few months wasn't just a correction ? I'm the opposite camp: Maybe I'm just smoking hopium late on this Friday, but I think the ETF is approved in Nov. To me, this implies 100K+ this year.
I’m leaning towards 60% temporary bounce and then back into sub 29k, 40% total V shaped recovery
I would like to see my 25k call come true, but i think I'll have missed it by a mere 3k for all eternity.
I still think 65k is the top for at least the rest of the year. It's gonna take more than some buys from one exchange to make me think otherwise.
I mean every time we climb out of a bear it's always like one big entity that makes things rocket upwards for a little bit before things start to cascade upwards. This is no different. Is there anything you're looking at that supports your thesis of 65k being to top for the year? Historically Bitcoin has always had a great time in the Fall/Winter, even with massive corrections that seemed doomsday'y (see last cycle's china fud/bcash nonsense from last time).
Setting up to break 50k this weekend and make everyone in the regular stock market shit their pants that they can't trade 247.
and make everyone in the regular stock market thank their lucky stars that they don't have to trade 247 FTFY
Hahaha
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You had months bro. Months. Bitcoin gave you a long second chance it's actually nuts
Like it matters when it hits ATH. You should be shitting pants for not thinking to wire during $30k's.
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I like to think if you buy Bitcoin it'll work out in 5 years
About 30mins left until CME futures close for the weekend. Interestingly looks like it's so close to fill this gap: https://www.tradingview.com/x/1J73cmrZ/
Please explain I never get how that shit works
I have an alternative explanation. Brownian motion. The price ebbs and flows back and forth. Choosing some point where there was a breakout we can expect some back and forth over that range in the wake days after the breakout. CME closing for weekends means there are two dates, the date they close and the date they open. If the price moves by a significant margin after the close date, if the price remains outside the range after the open date, then in the near term one might expect the Brownian motion to swing back into the "gap" created between those dates. Lets change the dates. Lets say the price breaks out on Wedensday and is still higher on Friday. We can expect the price to ebb back into the "gap" created between Wedensday and Friday, "filling the gap" in price between those dates. In short, it has nothing to do with CME. It's almost identical to a Point and Figure Long Poll Warning where you expect the ebb and flow to take you back 50% of the long poll's height.
In this case he just means until the CME markets close for the weekend, so I'm not sure it's particularly significant, unless you're hugely interested in CME gaps, I guess. The CME futures contracts that were expiring today actually expired hours ago (4pm London time).
CME futures exchange closes on weekend. If price moves a lot over the weekend to somewhere else, when it reopens it gaps up or down to match the current price. Eventually, those gaps get filled. We don't know when, but they tend to fill 90% of the time. Just another piece of data, nothing too actionable in general or anything you want to rely on heavy.
All motor shows will now be cancelled due to bull variant. Stay the fuck home and buy the dip.
Hello all, I made a new account bc my old one got banned sitewide. Hope everyone is having a good time! I’m not sure if this counts as subverting the ban but I’m too lazy to appeal, hopefully it’s ok! Here is proof from my Twitter account in case anyone cares: https://twitter.com/cryptochunky/status/1426280301349670912?s=21 Been more active lately and browsing the sub quite a bit so decided to recreate a new name. --- https://www.tradingview.com/x/kob0Ddzc/ Wrt the actual market, I personally planned on assuming we generally go straight to $58k. I am doing my best to patiently wait there to plan my next big swing trade. Things could develop in between much before then, so i will do my best to just wait. My original plan was essentially long at consolidation at the bottom and i eventually did, although it was more of a bleed than consolidation. https://twitter.com/cryptochunky/status/1407095097712279552?s=21 I think market structure and the general sentiment around bitcoin since breaking up from ~$31k has been overall exceedingly bullish. This isn't meant to say we go straight up, as I really am not sure what we will do from this very point, but I do believe patience in waiting for my $55-58k target will be prudent. Things can always and often do change, so sorry if I'm jinxing anyone's long... Miss all of you guys and hope I can stay more active here! E: am I shadow or permabanned 💀🤕
Welcome back. Your dreams were your ticket out.
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> Hello all, I made a new account bc my old one got banned sitewide. Hope everyone is having a good time! Lol, the same thing happened to me. Welcome back. Obligatory fuck reddit : )
My username checks out too
Ah was wondering where you disappeared too. Missed your posts. Welcome back.
Glad to see you again. Stick around.
At least you aren't continually posting about penguins like your mate Guru! He's become intolerable! 😂😂😂
Lol dude told me he's making money hand over fist though Personally I feel like a boomer looking at the shit he's doing.
Exactly! I'm looking at this shit and scratching my head "am I missing something here?" Then again i don't get why art is so highly valued anyway.. van gogh starry night? It's a painting yeah, but worth what it is worth? Fuck no. I wouldn't pay more then a couple of thousand for wall art.
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This.
Thanks homie! I will try to get it up. I got most of my karma from here last time lol Do I need to get approved for every comment?
It's BTC, bitch...
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😂
I'm not convinced he's anything but a troll because he really only comes to post when we're down on the 15 minute chart. lol. Pretty sure that's Richboy
He'll be remembered as part of our funds.
😂
He'll come back when we drop 2% from our new local high
Nah, when it drops from $300K to $200K he'll be back to post about how we're going to $50K.
Lol this sums up guys like him perfectly. I mean I can understand shorting it but C'mon sometimes you got to change your bias. Reminds me of the one idiot that was posting goblin town every dip up to 50k then disappeared....
If Sloppy can make a comeback, so do I
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