BTC-fiat got a bit of relief (1 BTC = 1 BTC regardless), and the world rejoiced. Really just Crypto Twitter rejoiced. Everyone who knows understands this is still a sideways dove market.
Personally, I'm not fullish bullish until we hit $52.5k. Until then, we could definitely get a quick wick down back into the $20ks, and I'm trading based on that assumption. If you're using crypto to get more crypto like me, monitoring the market like this is important.
Said another way, I didn't change anything about my trading strategy because of this movement. The yield farms I was in, I'm still in. Took 5% off the top and let the rest ride. Didn't fomo into anything, and taking all farming rewards into pristine assets (ETH, DOT, LINK, etc.). When I'm fullish bullish, those pristine assets will go into a collateralized loan platform so I can borrow money to degen during alt season. I have stablecoins in those loan platforms as well so it's virtually impossible to liquidate me, even on flash crash scam wicks. Everything is defi so I don't have to worry about CEXs cheating.
It's a strategy that lets me sleep at night and lets the market do its work. In the meantime, I'm doing my best to study governance and development.
Bottom line is these quick moves shouldn't jerk you out of yourself. They're not that special. This market is still bearish-doveish until we're above the 200MA on the daily (around $45k at this point), and we're not there yet. I say $52.5k is my mark because that basically means we've got an entirely new set of buyers that don't care about Elongate or Michael Saylor's really really stupid mining council idea and the proof-of-work fud. The slope on the 200MA daily is beginning to level off, which is a good sign. Maybe the 4th cycle will play out like Plan B says.
I've got stablecoins on the sidelines to buy up any dips, so I'm still not 100% in yet. I'd say like 25% in. Still buying BTC on a consistent basis.
Looking back on it, it's kind of boring to write about. Honestly, it's kind of boring to execute as well. Yield farms aren't giving me those thousand dollar days like they were. Income is consistent but low. But you'd be surprised how quickly these little farms add up into pretty big stakes in the pristine assets I'm collecting. Even though I'm secretly wishing shit would take off, this is honestly completely cool if the market stays like this for the rest of my life, lol.
Another advancement in my thought process as a trader — I got rid of the notion that pumps like this are "good news." I'm honestly not happy about it, so I won't be disappointed if it turns into be a fakeout. I'm definitely closer to the zen mindset that makes for the best trading decisions. I'm not married to any of my farms or coins, I know where my stops are, and I have a long-term plan. Everything is working as it should.
Cue the US gov't banning USDC in 5, 4, 3, 2...
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