Bitcoin VLOG #47 - PUMPAGEDDON!
I've been schooled by the markets the past few days, I was mostly blind-sided by the break to 35k, and 99.99% of the world population cant see the 36k to 40k pump.
That was nuts.
I will be honest, I don't think I would have bought the breakout, and any longs I may have opened at 30k would be mostly closed at 35k. So if you are looking for analysis and understanding of how to trade this recent pump, or why it happened... I'm not the guy!!
There's 2 lessons here for todays vlog, one of them I'm just reminded of while typing this..
Lesson 1 = Always plan for a bullish scenario. When price comes to top of pattern, and you put on a short, plan out the long scenario also. Give both equal weight, if possible.
Lesson 2 = When the end of patterns come, things tend to pump up or down drastically. It didn't dump, so it was more likely to pump, especially when so much money is sitting on sideline watching.
Lastly, I had to rush my closing thoughts this vlog but the gist of it was we could be at the start of the FUD of a 2nd covid wave for traditional markets that will impact crypto if it gets traction.
I don't know where that can go or if it will have any significance, but it does hinder my bullishness of this pump. I'm wary of how seriously we will challenge 40k.
Shoutout to todays trading view ideas =MarcPMarkets
=== TimeStamps ===
0:00 = Welcome
0:30 = BTC 1 day
1:30 = 33k BREAK
2:15 = Hindsight Ascending Triangle
4:20 = Blindsided by pump
4:40 = Lessons
9:25 = Pump was FAST
11:00 = 20d of price in 2 hours
14:30 = 5 straight green 1d candles
15:00 = 2018 comparison
16:30 = MarcPMarkets
19:20 = quick covid thoughts
19:30 = Closing words
That was nuts.
I will be honest, I don't think I would have bought the breakout, and any longs I may have opened at 30k would be mostly closed at 35k. So if you are looking for analysis and understanding of how to trade this recent pump, or why it happened... I'm not the guy!!
There's 2 lessons here for todays vlog, one of them I'm just reminded of while typing this..
Lesson 1 = Always plan for a bullish scenario. When price comes to top of pattern, and you put on a short, plan out the long scenario also. Give both equal weight, if possible.
Lesson 2 = When the end of patterns come, things tend to pump up or down drastically. It didn't dump, so it was more likely to pump, especially when so much money is sitting on sideline watching.
Lastly, I had to rush my closing thoughts this vlog but the gist of it was we could be at the start of the FUD of a 2nd covid wave for traditional markets that will impact crypto if it gets traction.
I don't know where that can go or if it will have any significance, but it does hinder my bullishness of this pump. I'm wary of how seriously we will challenge 40k.
Shoutout to todays trading view ideas =MarcPMarkets
=== TimeStamps ===
0:00 = Welcome
0:30 = BTC 1 day
1:30 = 33k BREAK
2:15 = Hindsight Ascending Triangle
4:20 = Blindsided by pump
4:40 = Lessons
9:25 = Pump was FAST
11:00 = 20d of price in 2 hours
14:30 = 5 straight green 1d candles
15:00 = 2018 comparison
16:30 = MarcPMarkets
19:20 = quick covid thoughts
19:30 = Closing words
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