I finally did my first trade today on crypto-miners today. Shorted PUTs on RIOT, and bought 20 CALLs on HIVE with a DTE of ~600
Interesting day for tomorrow, as HK is about to open cryptos trading again on June 1, but they are ahead almost a day due to timezone, means it will be tomorrow and it's the scheduled USG crash-Bitcoin-day Anyway, I added to my long btc perp futures
Position is underwater. Stop loss is liquidation at ~24.5k/btc Nice thing about perpetual futures is not having to worry about settlement dates
Patience little possum, a few more trading days away yet, then the fireworks, it could go up or down but probabilities are it's a strong upward move. Not this coming week but the following, always a bit difficult to gauge exactly as the way price moves in the interim affects the outcome, in particular, timing. Price imo should rally over 32,000.
Guys, I was one weekend too early! haha Not exactly sure whats transpired there but hopefully a sign of things to come! Bitcoin Price Roller Coaster The graph below shows wBTC’s parabolic rise from $27,000 to $70,000 in roughly 20 minutes. wBTC Volatility | Source: Twitter The price stayed at $70,000 for 10 minutes before falling spectacularly to reclaim earlier levels.
My favorite.... "There's a 50% chance of rain today, tonight, and tomorrow." Ooookay. It's like mathematically>>> so your guess is as good as mine then. (?) You might as well try your luck joining ET and trading.
Ya it would be nice when someone made a call to put some context to it. Like here is my entry, my stop and my target.
As much as I hate BTC miners and they are a dead-end boomer tech, the arrival of BRC-20 this year and its rapid explosion is going to pay off well for the miners who survived the post-Merge apocalypse. I am seriously thinking on loading up on something like BitFarms next week. This is not what I would bank on for a long-term investment into retirement, so I suppose it's just 'technically' a trade for now. The Halving & BRC-20 together seem to make this well worth the risk... before the paper-hands come rushing back in a few months down the road when earnings shoot up.
That's kind of impossible or unnecessary for many traders. Entry depends on price action immediately before or after a decisive move. If price is too far away, then what's the point of making an entry call now. Example: Bitcoin move imo will begin several days away yet, I know basically when but I'm not going to commit to being definite about it as a lot can happen in the meantime. A stop could be a trailing stop which moves day by day, so this is impossible to define atm. A target may never be set as it depends how long the trend runs for, similar to a trailing stop.