Flipping DeFiantly: XTZ, LINK & ATOM
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Flipping DeFiantly: XTZ, LINK & ATOM

By Thomas Wolf | wickedthewolf | 9 Aug 2020


I noticed some unusual percentage gains for the positive with Tezos (XTZ), ChainLink (LINK), and Cosmos (ATOM) and thought to myself; Tezos is doing quite well and the DeFi bulls are running; what is my next move?

Flipping.  Easily, and I'll explain why.

Defiantly: Adverb.  Definition: "In a manner that shows open resistance or bold disobedience."

ChainLink (LINK) is up over 25% which is an abnormal gain from its usual 10 to 15 percent swings, and is up even further throughout the last few days, currently at $14.27 USD:
LINKCBP2

Cosmos (ATOM) went up almost 29% in the last 24 hours, going from $4 USD to $5.24 USD, now holding at $5.15 USD:
ATOMCBP

Tezos is up 21% with a peak of $3.75 USD which is currently holding.

I've been capitalizing on Tezos swings using limit orders overnight, as you can see.  I am up 0.35 XTZ so far, which is a demonstration that you can flip with under $100 USD; in this case around $68-72 USD in XTZ - or 20ish Tezos:
XTZCBP2

The rest of the market isn't doing terrible but also isn't very note-worthy at this moment.  My current move has been to keep flipping Tezos by watching for chokepoints and setting my limit buy & sell orders to reflect them while waiting patiently for ATOM and LINK to dump.  I keep an eye on the rest of the market too, of course - but this is what currently stands out.

I am usually a few cents short of what I could have made "guessing in real-time" but this is a method that works if I am sleeping or in the woods; I just woke up from a nap to see another filled order.

Flipping is an easy process, though it requires Patience:

1) Sold 20 XTZ at $3.4279 during a peak.

2) Bought 20.07 XTZ at $3.3821 during a drop.  This was sufficient enough to see a 0.07 gain which is extremely minimal but was really to serve a point: Use your limit orders!

3) Sold 20 XTZ (this way I was already saving my 0.07 gain) for $3.4809 USD in another peak.  I am now up both in USD value and XTZ.


4) I set another buy order for 20.27 XTZ at $3.40 which is my predicted drop based on previous choke points in the current rise within 2 to 4 cents which still leaves a little margin for error to maintain profitability.

5) Kill my XTZ buy order as the three were correlating closely so it was pointless to focus on just this one.  This showed potential in LINK where I was able to invest in 5.1 LINK at $13.90 USD and quickly flip it for a small profit at $14.11 USD; I did this for two reasons:

1) To show how close the line can be and still be profitable despite fees, which on CoinBasePro are under 1% between the maker/finder fees associated with these orders.

2) It's a near picture-perfect example of a token permitting volatility for a flip in a short period of time.  I wish I'd adjusted the resistance bars better, but I was watching the market in the fastest intervals of 1 minute:
LINKCBP3

This was a $1.06 USD gain in 9 minutes.  5.1 * 13.9 = 70.89 minus 0.35 for fees = $70.54 USD.  5.1 * 14.11 = 71.96 minus 0.36 for fees = $71.70 USD.

$71.60 - $70.54 = $1.06 USD.

Clearly, if I had more capital down and waited longer this would make greater gains; the fees stay the same up to $10,000 USD.  Coinbase is known for high fees, but CoinbasePro is a lot better.

Now I search for the next dip with a promising spike ahead of it.

Unless the market holds upward, this process will continually repeat itself on a long enough timeline.  If a market indefinitely holds downward - that coin or token is dead.  This phase is usually sorted out during or shortly after airdrops which is why new tokens have to be dumped watching the market FAR closer.

Here's the thing guys, it doesn't matter which tokens you sell for how much; all that matters are the %'s gained and the %'s lost.  Even with fees, volatility allows easy manipulation of this system for profit.  The Tezos I am holding now will not discriminate against the 20 I flipped before that, or buy after that.

You can see how learning to flip small amounts can turn you into a wizard at flipping larger amounts, given enough time, common sense, and patience.  It doesn't work 100% of the time, but I'd say 9 times out of 10 it lands in my favor.

The only times flipping has been upsetting is when you sell thinking the price couldn't go higher than it did and it does and you instantly begin to lose money when holding would have left you in the positive.  Ie: Tezos going up while I have a buy order in for a lower price.

Alternatively, you could buy and then suddenly the price keeps dropping, rendering you further into the negative.

This is why I speak of choke-points.  Choke-points are basically marks on a graph where you will meet heavy buyer and, or seller resistance based on the current mid-market prices.

Because so many people trade scared and rely on limit buy, and sell orders - they are easy to find, usually.  Sometimes the market becomes random, and in that case - good luck to you as it's a 50/50 toss at that point.

If you see an immediate loss upon selling via increased mid-market price, it encourages the next dump in price.  Alternatively, if you see a nice loss above your initial buy-in, the market becomes more likely to jump in price.  The chokepoints -usually- remain valid, despite this.

But, without risk, there is no reward.  Also, wait for the next dip - that chokepoint will still remain valid most of the time.  If you see a better opportunity in the interim, take it.  Otherwise, Patience!!!

Now, what to do about LINK/ATOM - and the first thing I am noticing while watching all three of these tokens on a graph is that they are all correlating... which is odd because they usually don't share correlation to this degree.

I believe this is a DeFi related pump between the three tokens and likely more I am not seeing and, or are above the top-200 coins/tokens.

I am waiting for a bigger dump with LINK or ATOM and plan on using the same method in a slower fashion (1-2 limit orders or sales per day, or every other day) to make a purchase and start waiting for the next peak point that meets heavy resistance and start flipping LINK/ATOM.

I've heard from another user that flipping LINK alone is worth it due to the pump and dump attitude people have towards it in combination with non-Bitcoin correlated swings that defy the rest of the crytpto market.  This appears to be becoming popular with DeFi oriented tokens.

When line graphs suddenly get exciting... I've been doing this with various currencies forever - starting with Bitcoin (BTC).

However, Bitcoin has had some "stale" moments in the last few months so I had to find something else to flip while I HODL the king, BAT, etc.

These tokens are offering some DeFi-ance to the typical market movements and therefore, new opportunities.

Keep stacking money folks!  Tezos, LINK & ATOM are all up since I started writing this article.

Wait for the choke points...


Stay safe & Stay healthy, everyone.

Questions and comments are always welcome.

"I can make this money flip & I'm not even into stocks" ~G-Eazy
Fire in The Booth (Charlie Sloth) 2014

-Thomas Wolf


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Thomas Wolf
Thomas Wolf

I am a cryptocurrency advocate, a STEM undergraduate student, a nature enthusiast, a survivalist, a DIY specialist, and I'm a little crazy at times.


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