Respect the pamp!
As I slept overnight the market secretly plotted against me! My short positions were busted by the pump and the spot price was seemingly out in no-mans-land. The wedge trend is broken and it's quite unclear if a bearish or bullish trend will emerge.
This is something I was worried about when I was posting my shorts yesterday because often times we get that one last pump on the new moon before it all implodes into itself following the next two weeks. Is that what will happen this time? Who knows.
I'm still pretty convinced that the halving event is going to be at least something of a sell-the-news situation even if only for a couple days or weeks. Then again the whole Blackrock adoption of it all is a pretty huge wildcard especially when paired with an exponential trendline sitting at $100k+. The pump today gives me pause... but honestly I probably shouldn't let it. Just a bump in the road just like all April's tend to be when zoomed out on the macro timeline.
The breakout we are seeing here is the perfect troll.
Just high enough to look really bullish and just low enough to get punted back to reality at any time. The old February support lines seem to be doing their job to an extent... but who knows how long that will last. The lesser version is all the way down at $58k at this point but rapidly increasing over time.
I really thought we'd see $58k soon but clearly I'm having doubts.
Perhaps institutional adoption really will not allow such happenstances.
Still up a ton of money
Even though I woke up to losing like $2000 with my mega-short I'm still up a ton on my other bags. My hedge failed... but than again that is often what hedges do. You know what didn't fail? The massive LEO bag I've been stacking in preparation for the Maya listing.
This number was at $120k yesterday.
Keychain changed the UI a bit to reflect HiveEngine tokens on the estimated account value. Was a bit of a shock to be honest. My LEO bag is kind of ridiculous. I guess I'll need to sell some at a certain point for Hive/BTC.
In any case it's hard to complain about a busted short when I'm up five figures across all my other bags. This makes me think I should just open another short position. Even a gigantic $50k short wasn't even close enough to hedge how long I am across everything else. Not even close, at all. Maybe I'll make a smaller more responsible bet this time. We'll see.
Eclipse
The solar eclipse is happening in real time as I write this. I caught a little of it but then the clouds moved it before maximum coverage. In fact it seems like a lot of places were cloudy for this near once-in-a-lifetime event. These things happen. Get used to disappointment.
At the same time Maya DEX is also on the verge of v109 which incorporates Arbitrum into the ecosystem and allows the LEO listing to go live. Apparently Khal got a message right at the beginning of the eclipse that it should be going live very soon™. Hopefully the sun god does not smite our endeavors. Waiting not so patiently. Wen?
I drew this line weeks ago under the impression that trading above the line was bullish and below the line was bearish. Then we get this pump that's constantly oscillating above and below it... so troll. Psychic market vampire really knows how to push my buttons I tell ya hwat.
Conclusion
The eclipse has come and gone and there wasn't a rapture event in which all the chosen ones got sucked off to heaven. I guess the apocalypse is delayed. How disappointing once again. Too bad; better luck next time. I guess the world really will continue spinning on after all.
My short as a hedge seems to have completely failed, which apparently is a good thing because I'm up a ton of money. Perhaps I should just embrace my permabull nature once more and stop trying to read too much into these things. There are many wildcards in play across the board. Always be ready for chop. If there's one thing we can count on it's volatility.
The apocalypse is delayed ha ha ha, there were really so many expectations about this natural event, superstitions and rumors from crazy networks, many of us remember the year 1998 without so many supertitions and how life continued without alterations, it's good that the day was for you productive and like all of us who are in this crypto market we only wait for the surprising upward events ha ha ha
Hey, I really like your articles. I read them regularly, but rarely comment. Especially in the last few weeks. What I like is that I feel like I'm getting inside your head.
You're way ahead of me on all this knowledge. So I feel like I'm picking up a movie along the way. But even if you take a movie along the way, you can understand it in the end.
As for the eclipse. I'm on the other side of the Atlantic; in France. And yesterday on the news, I saw that in France, the next one will be in 2081 (the last one was in 1999). I'm happy for you that you managed to see a bit of it. It won't change the world, but it's something to see.
Over analysing the market, while you could be accurate, could end up biting in the arse. Embrace that permabull!
And I didn't get to see the eclipse nor was I raptured so we're all good for now.
I saw someone post something about the fact that an eclipse happens every 18 months. It just usually doesn't traverse half of the US. That's the only reason this one is a big deal. Everyone else in the world is like meh... That Leo pump is definitely nice. I took some gains from my CUB burn, but I will hold most in case it keeps going up.
Yeah they do happen pretty often but can end up being in the middle of the ocean.
The last one was all ocean and a tiny strip in South America.
And there wasn't a single person talking about the end of the world am I right? 😃 An old friend of mine was asking people what they thought of the portents around this one and one of the responses was where my original comment came from. I got to catch most of the eclipse outside my office though we only got between 90% and 95% totality.
Everyone thinks they're the main character of the story apparently.
Garlic for regular vampires. What about this one?
Self discipline, bankroll management, and emotional control probably.
Not what I expected. What am I going to do with all this garlic?
May I suggest salmon with a little lemon.
You right.
I think there will be a time when the world will stop spinning, but as long as it's still spinning there's no harm in keeping going and navigating the remaining time
I still think down before ATH. Not sure how far down, but I think we will see the 60K's again in short order.
Hello brothers, some people posted videos on Tik Tok showing that that same day of the eclipse a UFO passed by. When they saw the eclipse, they were scared and said it was like in the movie Apocalypto.