I haven't followed up my previous writings very well with all this action and time passing by so quickly, well have no worries none of this time has gone to waste!!!!!! I have recorded some of what I did according to my previous writings. To sum up what I said earlier: BTC miners revenue directs the flow of all things crypto. Using this I trade ADA....
So that went really well and I will break it all down. Many people did make more than I did in the last month with less to start with, I love that cause I love everyone but some of these people just held, they don't even trade.
What happens is I sit at home and read and trade and think and work and try to keep it going because it takes too much time to work for someone else. The way I see it I am a price checker. We start with the cost to mine a block of BTC (this prices in the halvening). Then we see if the BTC miners are selling or holding BTC they mined. My friend told me about some movement of stolen BTC, watch out the price could dump. I told him we have $20 billion in volume yesterday, fiat supply is the reason as it expands to preserve debt based money.
The BTC mining revenue:
Up for the last few weeks, lets zoom out, you can see that although this is good, the scale of growth is not enough to really change the price quickly in an upward direction just yet, so not going crazy on the longs here.
Its all there black and white, clear as crystal. So ADA is soon to have staking for the masses and that was one of my reasons to get involved at this point.
What I did was see the trend of the miners, sell 100% of the mined btc but sell no more than that. Then i saw the price rising. Boom time to act or I am wasting my time sitting here reading all day. I could be getting paid by someone else, I have to make this work.
So this woman asked me to work on her yard for $250. I did 2 days of 12 hours of hard work, even mowing a small field of wet grassy stuff that was 5 feet tall at least. After 2 days she expected me to come and do 2 more putting in a garden. I have learned to respect myself enough to stop pandering to toxic ideas like wasting my life so i told her keep the money and stop wasting my time. I could see this thing building like a storm in the sky. I was raised naive, truth is you don't let people tell you whats what when you can't afford a dentist working overtime!!!!!!!! Yes this is all essential to being here reading this and processing how one can care to keep up on this and use it, and find the way to take some risk out of this crazy game.
Had I been paid fairly for working, had that been part of society right now, I would not be doing this. But the hard lessons from "nice people"... well if I ever make it I would learn from this all to never be so blind to others and reality in front of me, and to always care about those around me.
I will explain how I traded it this way. Well I knew it was due to pump hard and the order book told me. I also new that ETH was valuable so thats my favorite ADA price indicator. When people are trading "90%?" of ETH 2.0 and all that staking and stuff, if you ever GPU mined ETH you now what I mean by stuff. So if people will trade hundreds of ETH into ADA these days, its a sign. But here I traded all 3: USD, ETH, BTC for ADA pairs. Why? You don't just exercise one muscle and variety is the spice of life. And sometimes you just see the order book get THIN. I tried not having fun, NOT GOOD.
So then I saw this all about 4 days ago and went long against ETH once again! Yes while ETH is pumping and for good reason. They move tighter together than BTC most days, its the low hanging ripe apple. And then the order books get so thin risk/reward becomes a question of when not if.
This handy tool tells me the volume in a good daily dose, a little more personal seeing just the whales.
This is the BTC/ADA pair. We can see the ETH pair below has the pump primed cause of the thin order book. So set some conditional orders and let it run up near the top of the gap and see if it works.
So thats how I know when and where to trade ADA. Imagine seeing cars priced like that, or food........
SEE? See how it spikes to fill gaps sometimes??
And then it happened again..... see how I do this? You can try too, its fun! Just don't be wild like me and stake your well being on it.
This is not altcoin spikes, this is the big boys top 10, catching those spies is sweet. Imagine this: You use ETH as collateral for ETH/ADA and ETH and ADA both pump on the Dollar$ that day. You get the ETH price appreciation and the ADA, double dipping. We all now ETH is more likely to go up 10% in a day than BTC. Make as much as you can safely make as safe as you can make it.
Its been a crazy month. I have another long like this going now just in case, I use stoploss when I can.
My car got stolen and i lost it and no way to get any money out of anyone its not insured for that. This standard mid age American woman gave me the standard modern crap that drove me here in the first place, not that its not great, the hot sun drove me to Thailand... but anyway even if i had wanted to work 4 days for $5.2 an hour while her teenage son plays XBOX, my car was stolen and I could not come to her house. Trading saves my body and soul especially in times of economic disaster and a virus, riots and all. I would sit here depressed that I was going broke working and could not afford to buy my own crypto as it all climbs. So I plan to keep doing this, I finally got to post something that relevant because you can see the order book is calling for ADA/ETH at... well lets see...
If you do not see 4200 ish, you shouldn't be reading this, you didn't get it and its not worth your time, sorry I can not give any back but at least your free now!
No one knows if it will ever spike again soon but we can sure hold ETH or BTC as we wait and see. You don't expect meat every time you hunt and you don't expect to never miss the far away shots so come on and have some fun with me!