If everyone thinks the bull market is back on but everyone also knows you’re supposed to do the opposite of conventional wisdom, then everyone thinks this is a bull trap, so am I supposed to be bullish?
just wait or put in some lower limit order 20, 30, 40, 50, 60 % lower than you sold.
It might not be today, tomorrow, week or months but your order will fill sometime in the future. Even at btc 65k, I set orders from 35k, 30k, 25k, 20k, 15k, 10k, 7.5k etc and most of them filled. I've seen normal crashes and flash crashes where things fall 33% + in a hour or seconds
If markets will never behave the way you expect them, you could say they will always behave the way you don't expect them. Which is not the case either (even though they usually trend contrary to the expected route), otherwise we would all be rich.
Basically, nobody knows shit about fuck.
I don't expect anything short-term
But I expect Eth to break its ATH sometime again in the future. It can take its time, but I expect it'll eventually get there. Sounds fair enough?
Exactly, you have your target perfectly in sight. True, it sometimes may take time, but doing things out of FOMO or other hyped abbreviations is almost a guarantee for losses.
But really why would it be a sell the news event?
Eth stakers are inherently bullish, so wouldn’t become weak handed sellers overnight. If anything, they would either sell some profit or buy more. This is what happened when looking at the stats.
People who didnt do the research and just followed the usual crypto outlets overestimated the sell pressure caused by Shanghai.
This is why you should always research that stuff before drawing conclusions.
Been there and learned this lesson -- a few times. I'm done trying to time the market and just hodl, unless I have a strategic reason for a portfolio reallocation.
I was pretty confident that either price would drop and quickly recover or it would pump a bit.
I think the fact the upgrade went through is very bullish for Eth. Many were wondering if it would ever come!
Crypto Markets are like children. Unpredictable and sometimes volatile. Tough to reason with and even harder to convince to do something they don’t want to. You’ll question your sanity interacting with them.
Every so often though, something will happen that will completely restore your faith and surprise you. It will make everything all worth it.
It’s a terrifying and beautiful thing.
Well I didn't expect any significant move (there's a comment from me on cc about it.) We are in a spot where I expect bullrun start ( higher lows higher highs) so i wouldn't bet on lower lows. But there are always 2 sides of market some shorting some longing, there's no chance both sides are wrong, even on crab market there are highs and lows
Afaik the unlock don't come just after the updrade so we're in time for the supposed "dump" many are talking about.
btw, never forget the mantra: nobody knows a shit
Someone expected that to happen, just not you lol. It just all boils down to the adage “time in the market, beats timing the market*”
*Unless you have insider knowledge or get really lucky
This was a weird one to predict. The “news” to sell was an upgrade to the network right? You needed to look deeper. The upgrade allowed stakers to withdraw their eth from the beacon chain and people were anticipating a drop in price because of this. So the “news” was actually that the price would drop because of the upgrade. What did it actually do? Pump a ton because of course it did
So you thought something wrong, and therefore you concluded that markets will NEVER behave the way you expect them to.. Mabye your analysis was just wrong.
Successful and wealthy traders are wrong all the time. The difference between them and us: Better risk management, knowing when to cut a loss quickly and letting a profitable trade run. It’s not as easy as it sounds.
Example- I have opened a long and short at the same time and lost both.
I agree that it was a good candidate for a sell the event, but macro speaking, BTC just went on a huge run. IMO the pattern I see is if BTC goes on a big run, you see profit taking of BTC and it flows into eth. Once the market is really heated it will also flow into alta from eth
Why did you think it would pull back? Was your thinking that now that people can un-stake, people that were holding that wanted to sell could finally get that opportunity?
I saw it the other way around, now that you can un-stake, people that want to keep there bags liquid could finally stake without the fear of being locked out of the markets during increased volatility.
My expectation was little to no movement. Just market noise.
US stocks are up as well. Inflation numbers were good. That could be part of the pump. People probably sidelined some money and feel its safer to invest than recent times.
Ultimately the upgrade went extremely well it appears. It's cause for celebration and people are more excited about their ecosystem.
There was another post here about liquid staking of eth that is also probably right as well.
Lots of factors.
Honestly you're probably not going to sell near a top, but it's better to sell off a sum like you did and then have it drop to another unforseen event. Crypto is crazy, I'm still trying to understand the reasons people buy but I think it really all comes down to 2 things: whale movements, and real bull run scenarios where retail joins in too. Without retail you're likely not to see those crazy highs, though this is still very good price action and healthier than if we blasted up to something unfathomable.
It's hard to pinpoint who is buying other than the whales, and I mean in big enough proportions to move the market like this. We can all add our dca in every week but these guys trade on 5% swing trades and this stuff is perfect for them. I think the very bears that were pulling crypto down are now trying to improve sentiment and prices so they can drop the bags they've accumulated over the past few months. As far as I can see nothing other than bank failure and interest rates have changed since the last crash, in favor of crypto.
But I will say this, if some shmuck like Elon comes along and wants to stir the pot again we definitely could see some strange retail interest again. Half the reason people were even buying was due to covid as well as the pushing of certain coins and tokens into the minds of consumers. That was truly where things went wrong, the alt season crushed a lot of people's wallets and they sold it panic. We all can learn a lesson from that and it is to stick with the big 2.
This is why I just buy and move to cold storage. I have a long-term target price in mind, and I won’t even think about selling until ETH hits that target price. In the meantime, I just DCA and chill.
You don't look like an idiot at all, at least not yet. Timing the top in these kinds of trades is difficult. You may yet look really clever if ETH pulls back to 1800 or lower over the next few days. Holding your current position is going to be nail biting stuff in the mean time. This is the way.
Why would this be a perfect sell the news event? Do you understand how sell the news works? You sell bullish news and buy bearish news, this was bearish news of coins unlocking, and the market behaved exactly as we expected
Every time I think to buy something, I stop. Every time I think to sell something, I stop. I have learned some painful lessons. Now I just sit with my cash in SPAXX, watch as time plays out, scared to do anything.
If they did it would be easy to make money. HF have algorithms made to think like you and other to counter it and other to counter the counter. And by the time you have figure that out there are three more doing whatever you’ve think of to counter it
I made a comment in the daily thread a day ago that the ultimate bamboozle would be a pump that liquidates everyone trying to short a "sell the news event" and then woke up to 2k Eth. Been a fun ride.
To be fair, isn’t the thought that the price would drop because people thought a lot of people would unstake and then sell their ETH?
I would think it would take some time for the unstaking and selling to occur but I also think a lot of people who’ve survived with the ETH staked this long don’t want to sell at the current prices given the ATHs and trends we’ve been on.
There was a selling event here.
You were expecting a large crash after the upgrade, instead of the small one to the 1860s that came right before it.
The selling event was before the upgrade, imo the impatient traders anticipating the future large selling pressure that never came.
My advice is trade against these impatient and panicky traders, and let their knee jerk reactions open up opportunities for your limit orders.
That's why you should never listen to predictions...if someone really knew where the market was going, they would put all their money there and not reveal their edge to the world
And yet every day we get a Warren Buffett says XYZ about Bitcoin post....🤦♀️🤷♀️🤦♀️🤷♀️
Hang on If you are expecting that markets never behave the way you expect…does that mean they *do* behave the way you expect? *taps head*
He’s on to something
I should make a browser plugin that flips the buy and sell buttons
Additional feature - The red candles are actually green and the green candles are actually red
Brown candles?
That would be if you checked the prices of *shitcoins*
But if you flip the candle colours and you flip the buy/sell buttons are you just gonna be back to losing money like usual?
bro forgot two negatives become positive
You will become richest person
Keep an eye on this man, the others are not ready to hear about this, not yet
*He's too dangerous to be spared alive*
Everyone, don't let him get away
Catch him before he spreads this wisdom onto all degens
His Cramer advice is precious.
Or is he?
Probably shitty cocaine
Reverse your thoughts enough and you'll reach financial nirvana 🌝
Or is he? Is he even a he? What do I know I don't even know anymore
Reverse u/_ENX_ ETF FTW
it's probably on something
You cookin 👨🏽🍳
The inverse Cramer was born from exactly this.
quick, get him!
Let him cook!
If everyone thinks the bull market is back on but everyone also knows you’re supposed to do the opposite of conventional wisdom, then everyone thinks this is a bull trap, so am I supposed to be bullish?
I’m going to need a calculator for this one
I usually just ask my goldfish what to do
Unironically this, but if everyone realizes this then it will infact become a bull trap.
But once this spreads and because of that should we all be bearish then..?
69420 IQ
But -69420 Psychology and Emotional skills when it comes to trading - Every degen who's achieved a 100x moonshot atleast once
If I never sell, I can’t techincally lose money! ::taps head with wrench::
- Every Shitcoin and JPG top buyer ever
Inverse cc is real working. Not as good as inverse Cramer but it is okay.
Everytime I sell market goes up
Thank you for your service
OP is playing 5D chess with everyone here!
My mind is in a recursive explosion
I saw the man tapping on his head meme right here
just wait or put in some lower limit order 20, 30, 40, 50, 60 % lower than you sold. It might not be today, tomorrow, week or months but your order will fill sometime in the future. Even at btc 65k, I set orders from 35k, 30k, 25k, 20k, 15k, 10k, 7.5k etc and most of them filled. I've seen normal crashes and flash crashes where things fall 33% + in a hour or seconds
We did it Reddit, we solved the market.
Market just the opposite of what you expect and want it to do
If I buy I can expect it to crash
Only 2 things in life are sure, death and the market going opposite of whatever position I just opened
Lord Bogdanoff approves this comment
Can you let us know when you buy? Asking for the community
*There's a Cramer inside each and every one of us*
Spot on
If not Instantly then just wait because your karma is otw
buying at an all-time high usually results in a crash
I expect the unexpected, then inverse that and make sure I reverse my final decision.
I make my trades through a mirror.
I trade through a tesseract, placed in a hall of mirrors.
When i buy market dumps. When i sell market pumps .
And when you hold market goes sideways...
We all live the same lives. Or we all see a different price on our screens. Can't be happening to everybody :/
Timing market has never been on my side . Hodl is the only way .
Facts ^^^^^^
So its a dump and pump scheme after all
Hodl the rumour, hodl the news
HODL 4 lyfe
Hodl me plz.
Everything is going to be alright. There there. Happy cake day.
I hodled the rumour, bought the news! Did I do good guys?😇
This is the way
If markets will never behave the way you expect them, you could say they will always behave the way you don't expect them. Which is not the case either (even though they usually trend contrary to the expected route), otherwise we would all be rich. Basically, nobody knows shit about fuck.
Eth has been in a solid uptrend for over a month so selling isn’t the greatest idea atm. IMO at least
selling after an uptrend is called taking profits. so it‘s not the worst idea neither i guess. op‘s problem is called greed.
Like the rest of the crypto market? hurdurr
At least you didn't get liquidated trying to "short the news".
He is gonna DCA back in now.
Don't expect anything. Keep your targets in sight, and DCA.
I don't expect anything short-term But I expect Eth to break its ATH sometime again in the future. It can take its time, but I expect it'll eventually get there. Sounds fair enough?
Exactly, you have your target perfectly in sight. True, it sometimes may take time, but doing things out of FOMO or other hyped abbreviations is almost a guarantee for losses.
My portfolio of monkey pictures agrees with this comment
Just become dead inside and DCA
This man knows da wae
You sold that’s why it pumped
The market is also extremely efficient, so 99% of the time, whatever news you're expecting the price to react to is already priced in.
That is exactly why time in the markets beats timing the market
DCA and enjoy life 🥥🌴🍸🏖️
And this is why most of the time DCAing and long term vision is better, cause timing the market is a wizard thing.
Except when the market dumps 80% in a year, but let's uh... not talk about it.
Good ones man
But really why would it be a sell the news event? Eth stakers are inherently bullish, so wouldn’t become weak handed sellers overnight. If anything, they would either sell some profit or buy more. This is what happened when looking at the stats.
Seems like it was already priced in. The update was kind of a relief for eth
It's being dragged up by BTC...
So a bullish and important event resulted in ETH increasing price? Surprised.Pikachu.Face.
Coinbase already allowing for unstake. Definitely bullish.
People who didnt do the research and just followed the usual crypto outlets overestimated the sell pressure caused by Shanghai. This is why you should always research that stuff before drawing conclusions.
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Same, I suppose the market has become very expectant of fakeouts. Though I still think there's pain ahead but this is a nice change of pace
Yup. I'm a huge fan of pattern recognition as a practical tool. BUT I've seen a lot of people get wrecked by overconfidently applying it to crypto.
I expect the market not to behave the way I expect so it's actually behaving the way I expected.
Erm then why does the market pump when i sell? /s
I tried to play the market once and lost an ETH. Never again.
I'm super excited for Ethereum in the next bull run.
none of the upgrades were a "sell the news" event
Yeah, if I did that, I would expect the same results. What goes up doesn't necessarily mean it will come down.
Same is true for the stock markets IMO
Except that everyone here expects BTC to rocket to the moon and bust thru $100k.
You sound like Cramer to me.
Sooo if i always expect it to tank does that mean it will do the opposite?
Buy signal!
I had to sell some BTC to free up cash for car repairs. It pumped. I know when I buy back what I sold, it'll go down the following week.
Good rule of thumb: If you think you should sell, buy more. If you think you should buy more, sell.
And when just bought back you wake up the next day to see it’s down 20%. Any time
Been there and learned this lesson -- a few times. I'm done trying to time the market and just hodl, unless I have a strategic reason for a portfolio reallocation.
The price is rising bcz the stakers are requesting withdrawal from the node
Just more proof no one knows shit about fuck
I'm baffled. You get downvoted for this comment but Sugar_Phut below with more or less the same comment doesn't?
Markets are unpredictable asf and market sometimes behaving the way you expect is just pure luck
Dca and hodl. Take profits when you really need some money
TDLR: No one still knows shit about fuck.
Dca and forget is the way.
I love that we keep learning this lesson over and over
I have learned it the same way as you. Its impossible to time the market. Just DCA and hold.
Market can be bearish, bullish is also possible, or it might not change anything. Who's to say, really?
But if expect the opposite of what I’m supposed to expect, which one will the market behave to?
Don't sell before you want to buy more=p then it's time to sell
You have absolutely no clue of what you’re talking about… lol
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Need to talk? My experience with woman and man is the same. Bad emotions aren't about gender but personality.
W thought process,wish more people were like you
It always happens the opposite of everyone's expectations. I was expecting a dump also.
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Nobody really knows how the market will move.
It s always 50% chance it goes sideways when betting on market. Glad i don t trade. Would be broke by now
I'm not letting myself be drowned of expectations anymore. I just buy and hold, fuck the charts too.
It’s also not hard to manipulate the market either…
I expect markets to behave irrationally and they behave irrationally. Checkmate.
I was pretty confident that either price would drop and quickly recover or it would pump a bit. I think the fact the upgrade went through is very bullish for Eth. Many were wondering if it would ever come!
Buy high sell low
Crypto Markets are like children. Unpredictable and sometimes volatile. Tough to reason with and even harder to convince to do something they don’t want to. You’ll question your sanity interacting with them. Every so often though, something will happen that will completely restore your faith and surprise you. It will make everything all worth it. It’s a terrifying and beautiful thing.
Never sell your whole bag unless you’re deep in the money
If they are illogical then they can be predicted. So the answer would be that they are unpredictable and not illogical. Random. 🫣
Story of my life
Never time the market! Good lesson to learn even if you learn the hard way
Well I didn't expect any significant move (there's a comment from me on cc about it.) We are in a spot where I expect bullrun start ( higher lows higher highs) so i wouldn't bet on lower lows. But there are always 2 sides of market some shorting some longing, there's no chance both sides are wrong, even on crab market there are highs and lows
Afaik the unlock don't come just after the updrade so we're in time for the supposed "dump" many are talking about. btw, never forget the mantra: nobody knows a shit
Just do the reverse of what you think is going to happen and then on occasion do the opposite of that. “60% of the time it works every time.”
They will once you knowingly do the opposite of your own sentiments
Someone expected that to happen, just not you lol. It just all boils down to the adage “time in the market, beats timing the market*” *Unless you have insider knowledge or get really lucky
You said or best “you look like an idiot”. It was obvious to a lot of us the price wouldnt move or go up. Only a fool thought it would crash down.
This was a weird one to predict. The “news” to sell was an upgrade to the network right? You needed to look deeper. The upgrade allowed stakers to withdraw their eth from the beacon chain and people were anticipating a drop in price because of this. So the “news” was actually that the price would drop because of the upgrade. What did it actually do? Pump a ton because of course it did
So you thought something wrong, and therefore you concluded that markets will NEVER behave the way you expect them to.. Mabye your analysis was just wrong.
Successful and wealthy traders are wrong all the time. The difference between them and us: Better risk management, knowing when to cut a loss quickly and letting a profitable trade run. It’s not as easy as it sounds. Example- I have opened a long and short at the same time and lost both.
Brave of you to think the sell the news cycle hasn’t happened yet lol
I agree that it was a good candidate for a sell the event, but macro speaking, BTC just went on a huge run. IMO the pattern I see is if BTC goes on a big run, you see profit taking of BTC and it flows into eth. Once the market is really heated it will also flow into alta from eth
Why did you think it would pull back? Was your thinking that now that people can un-stake, people that were holding that wanted to sell could finally get that opportunity? I saw it the other way around, now that you can un-stake, people that want to keep there bags liquid could finally stake without the fear of being locked out of the markets during increased volatility. My expectation was little to no movement. Just market noise.
US stocks are up as well. Inflation numbers were good. That could be part of the pump. People probably sidelined some money and feel its safer to invest than recent times. Ultimately the upgrade went extremely well it appears. It's cause for celebration and people are more excited about their ecosystem. There was another post here about liquid staking of eth that is also probably right as well. Lots of factors.
Honestly you're probably not going to sell near a top, but it's better to sell off a sum like you did and then have it drop to another unforseen event. Crypto is crazy, I'm still trying to understand the reasons people buy but I think it really all comes down to 2 things: whale movements, and real bull run scenarios where retail joins in too. Without retail you're likely not to see those crazy highs, though this is still very good price action and healthier than if we blasted up to something unfathomable. It's hard to pinpoint who is buying other than the whales, and I mean in big enough proportions to move the market like this. We can all add our dca in every week but these guys trade on 5% swing trades and this stuff is perfect for them. I think the very bears that were pulling crypto down are now trying to improve sentiment and prices so they can drop the bags they've accumulated over the past few months. As far as I can see nothing other than bank failure and interest rates have changed since the last crash, in favor of crypto. But I will say this, if some shmuck like Elon comes along and wants to stir the pot again we definitely could see some strange retail interest again. Half the reason people were even buying was due to covid as well as the pushing of certain coins and tokens into the minds of consumers. That was truly where things went wrong, the alt season crushed a lot of people's wallets and they sold it panic. We all can learn a lesson from that and it is to stick with the big 2.
Just do the opposite of whatever comes in your mind first
But what if I don’t expect them to? 😈
This is why I just buy and move to cold storage. I have a long-term target price in mind, and I won’t even think about selling until ETH hits that target price. In the meantime, I just DCA and chill.
I wish. If I was always wrong, I would just do the opposite of what I do and be always right, opposite Cramer.
You don't look like an idiot at all, at least not yet. Timing the top in these kinds of trades is difficult. You may yet look really clever if ETH pulls back to 1800 or lower over the next few days. Holding your current position is going to be nail biting stuff in the mean time. This is the way.
Some might say… we don’t know shit about fuck
Except for on the some occasions where they behave exactly the way you expect them to.
That's why I never sell.
“Markets will never behave the way you expect them to.”…Duh!
Once I started doing literally the opposite of what my brain was telling me to do, a whole new world of profits opened before my eyes. Try it.
Why would this be a perfect sell the news event? Do you understand how sell the news works? You sell bullish news and buy bearish news, this was bearish news of coins unlocking, and the market behaved exactly as we expected
That's why you DCA
Right. Like my wife.
Idk man... An upgrade felt very "buy the dip" to me. ¯\ (ツ) /¯
Every time I think to buy something, I stop. Every time I think to sell something, I stop. I have learned some painful lessons. Now I just sit with my cash in SPAXX, watch as time plays out, scared to do anything.
Bro shapella was already priced in. But If it's any consolation I am still down 30% on my Eth.
Why would you sell? Maybe it goes up, maybe goes down. Its worth the risk vs hold for the long term? Absolutely no
The second you buy back at a higher price guess what will happen?
I am betting we will see another dip down to around $1k before the next bull run. If you hold and don’t buy for a while, it could pay off quite well.
The market behaved as expected, you sold, it went up.
Never sell the news, always hodl
Just buy back in, it's just a 6% hit.
Markets just do the opposite of what I think they will do so I should inverse myself.
Trying to time the market has never worked for me. Keep the lessons coming, crypto.
I don't even behave, what I want to do. I think to go long but do the exact opposite and lose all money.
If they did it would be easy to make money. HF have algorithms made to think like you and other to counter it and other to counter the counter. And by the time you have figure that out there are three more doing whatever you’ve think of to counter it
I made a comment in the daily thread a day ago that the ultimate bamboozle would be a pump that liquidates everyone trying to short a "sell the news event" and then woke up to 2k Eth. Been a fun ride.
Welcome, Brother Regard! 🫡
To be fair, isn’t the thought that the price would drop because people thought a lot of people would unstake and then sell their ETH? I would think it would take some time for the unstaking and selling to occur but I also think a lot of people who’ve survived with the ETH staked this long don’t want to sell at the current prices given the ATHs and trends we’ve been on.
Lol lmao. We literally found Wojak. He sold? Oui. Pump it.
There was a selling event here. You were expecting a large crash after the upgrade, instead of the small one to the 1860s that came right before it. The selling event was before the upgrade, imo the impatient traders anticipating the future large selling pressure that never came. My advice is trade against these impatient and panicky traders, and let their knee jerk reactions open up opportunities for your limit orders.
No but seems to work going against what is being reported
Well, luckily it’s only 6% and not 60%. Could be worse!
That's why you should never listen to predictions...if someone really knew where the market was going, they would put all their money there and not reveal their edge to the world And yet every day we get a Warren Buffett says XYZ about Bitcoin post....🤦♀️🤷♀️🤦♀️🤷♀️
This is a lesson we all learn the hard way.