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It's Time To Take My Own Advice by edicted

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· @edicted ·
$1.62
It's Time To Take My Own Advice
<center>![t.png](https://cdn.steemitimages.com/DQmYkjkmRnEqTWVWp5uGyVNDkLqkJCTwFcVX5L2B6wNsahh/t.png)</center>

I recently set a stop-loss at $10650 for Bitcoin.  However, the market started doing this and I canceled the stop-loss and just sold instantly.  

I now have 10 million Satoshi left (0.1 Bitcoin) but I also have an $880 hedge, and I've feeling really good about that.  I believe that the Summer bull run is over and there's a good chance Bitcoin crashes to $7500 over the next 3 or 4 months.  In that process Steem is going to get stomped into the dirt.  Therefore, I'm hedging to buy more Steem during the months of September and October. 

<center>![dont-gamble.jpg](https://cdn.steemitimages.com/DQmSqtBxpnE4JWXKmUdWsGWzkxDvUZEVqCmj8o3Jhjqc2KY/dont-gamble.jpg)</center>

# How quickly we forget.
What was everyone saying when Bitcoin bottomed at $3200?  

> OMG BITCOIN IS GOING TO $1000

> OMG BITCOIN IS DEAD.

> THE CRYPTO APOCALYPSE IS UPON US!

 You know what I was saying?  Wow... $3200... I'm 99% sure that's the bottom.  

You know what else I was saying?

> I bet Bitcoin spikes to $12k in the summer and then crashes to $6k.  

Honestly, these predictions might turn out to be really really accurate, but now with this new information I've shifted my guess slightly to a peak of $13.8k (obviously already happened) to a crash of $7500 (a very strong support line). 

I've been in this game since Bitcoin peaked at 20k.  That was the signal for me.  I had missed that train but I knew there would be others.  I've been FOMOing ever since, and I've lost a lot of money because of it.  I am a raging bull.  I know where this technology is going so I jumped the gun several times and never kept a hedge asset handy in case of a market crash, as there have obviously been several.  

### Every time the market crashed to the local minimum it was obvious to me, but I had already gone full FOMO and didn't have any hedge money left. 
You should have seen my face when Binance Coin BNB hit $4.  
I was facepalming so fucking hard. 

<center>![boar-year-of-the-pig.jpg](https://cdn.steemitimages.com/DQmc5iE6vPEyWduCpPmHezpVc2ZUQJSEFZPRsFrUjrLhDBy/boar-year-of-the-pig.jpg)
</center>

As a poker player, I don't believe in luck, but I do appreciate that [2019 is the year of the boar](https://steemit.com/chinese/@edicted/year-of-the-pig) (my birth year) and it is also thought of as a lucky year.  I still think I can position myself to get extremely lucky before this year is over.  We all can. 

It's time I stopped FOMOing and FUDing.  It's time to play it safe.  I've found that it's extremely easy for me to call the bottom of the market.  I've tried to catch the falling knife far too many times and bled out.  As the market crashes, I always find myself entering too early before it's done.  That ends today.  It's time to start waiting for confirmations. 

<center>![SBD steem.png](https://cdn.steemitimages.com/DQmaxdeePyNCoNEzjB3A2oGigjBpD1bS6sDb9ct5y1wVSe1/SBD%20steem.png)</center>

# SBD
SBD is the absolute best stable-coin to invest in.  It always returns to the peg, and it has the loosest peg of all stable-coins in existence.  When it goes x10 you sell.  When it crashes to 50 cents you buy.  There's so much free money on the table when it comes to SBD.  More on this some other time. 

Although I will point out that the price of SBD is 7 cents under the peg.  That's a free 7% profit right there.  However, I think it's going even lower.  In addition, when the price picks back up, Steem has a habit of making much bigger gains than SBD.  I'm going to be giving this a lot of thought in the near future. 

<center>![bearish.jpg](https://cdn.steemitimages.com/DQmQEEELPTU6yrGNsehUkEz6raheVsQMVzBAChr78qoQ9dX/bearish.jpg)</center>

# Bearish
I'm such a huge crypto bull, the only way I can make extra money is by turning bearish at exactly the right times: the obvious times.  It totally reminds me of my poker playing style.  I'm extremely tight/aggressive.  I cultivate a weak/tight persona, so aggressive players bluff me a lot.  I catch them with their pants down very often. 

For me, the time has come.  ***THE MARKET IS BLUFFING***.  What was everyone saying when we all knew we were out of the Bitcoin bear market?  They thought the same thing would happen that happened in 2014.  They thought we would have a full year of boring consolidation where the market didn't really do anything.  Have we already forgotten this?  

That didn't happen, and now everyone is calling for all time highs.  All time highs?  6 months after the bear market ended?  If you were saying that just 3 months ago people would have laughed at you.  Now it's the standard Maximalist delusion.  We don't have a chance at ATHs for another 6 months; I "guarantee" it. 

### Stop letting the market capitalize on your emotions.  
## Set realistic goals.  
# Hope for the best, prepare for the worst. 

![t2.png](https://cdn.steemitimages.com/DQmcGkpkPwgibEDnAA2v1e7W83jdBfRjezRJB7ZMJpgvNiA/t2.png)
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 17 others
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vote details (81)
@pouchon ·
$0.03
You sound like Cramer. 
In a good way. 
You tell it like it is. 
Emotions drive this market and there is nothing you can do about it. 
Looking for opportunities are the way to rack up profit. 
Trades and investment require a track record that remind you this has happen all over again, be ready to ride the bear or bull. 
Great post. 
Keep on postin 

Posted using [Partiko iOS](https://partiko.app/referral/pouchon)
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vote details (2)
@shanghaipreneur ·
Crypto Cramer! LLove it
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@armadilloman ·
$0.03
Well I think there is a possibility the bitcoin market will swing from outperforming expectations to underperforming expectations.  I think the next few days will tell.  
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vote details (2)
@mistakili ·
$0.02
Nice to see a totally different and unbiased perspective from what others are saying, people are trying to force the bul to run so that they can say they said so, I guess its more than just saying, for now at least.
πŸ‘  
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@chesatochi ·
At certain point this will stop to be the case othewise Bitcoin will never get mainsteam acceptance. ;)

Posted using [Partiko Android](https://partiko.app/referral/chesatochi)
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@edicted ·
Yeah i might sell a tiny bit more if it gets back to 13k.  
My current hedge is still small potatoes considering how much I still have in the market.
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@steemitboard ·
Congratulations @edicted! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://steemitimages.com/60x70/http://steemitboard.com/@edicted/voted.png?201907112228"></td><td>You received more than 30000 upvotes. Your next target is to reach 35000 upvotes.</td></tr>
</table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@edicted) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=edicted)_</sub>
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@jamesbrown · (edited)
$0.05
I'm on the same page on my read of the market.  I'm convinced that BTC is long overdue for a test of the 20 weekly moving average, which is currently just a tad bit above $7K (that would put a test of it at your $7.5K in around 2 ~ 4 weeks, on the later side if it were to wick below that moving average on its test).  Chart of the weekly with 20 SMA (along with a 66% envelope to the 20 SMA and a fib-level assessment of the major bullish move) below:

![alttext](https://www.tradingview.com/x/Fy4xkMo3/)
https://www.tradingview.com/x/Fy4xkMo3/
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vote details (2)
@newageinv ·
What has been interesting is seeing the pullback as tradition financial markets are getting to new highs!  Those highs are not sustainable so we will see what implications it has for crypto!

Posted using [Partiko iOS](https://partiko.app/referral/newageinv)
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vote details (1)
@cmplxty · (edited)
I’m in sell mode right now, keeping more bitcoin than I started the summer at which is great, but keeping some funds ready and waiting for it to tank down. It won’t go up infinitely, so when it comes back down to a healthy level for me I’m gonna reap the benefits!

Here’s to it going back up to 13k so I can sell more lol
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vote details (1)
@nickgrujic ·
another great post man
i agree with your 13,800 top but i dont see it going lower than 9k
we were both wrong about the flying summer 
i think and of july it will start moving again due to baakt launch
alts are getting hammered lol
have a good night E
cheers
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vote details (7)
@cryptkeeper17 ·
Crypto trading is such a fickle game that you must employ all sensibilities and not all senses, if that makes any sense at all, lol.
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@bearbear613 ·
Right on time.. I was right too ;)
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vote details (1)
@geekpowered · (edited)
I don't expect new ATH's any time soon. It actually rose way faster than I expected so soon. I wouldn't be surprised if it plunged all the way back down, or just a little higher than where it was previously. Hell, it might just decide to fuck us all and take a new recent low, just for the hell of it.

The part I don't get is how most of the alts seem to be reacting.

I need to start looking for good books on crypto trading. There's something I don't quite get still. I can see the pattern...I just don't quite get why...and reading most articles, most other people don't either.
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