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hullo i am pow and i am a degen volume trader/horny narrative buyor. follow me to riches or to dust, don't complain. https://twitter.com/traderpow Business proposals: DM @traderpow first or @NFTDefiFutures if I don't get back to you fast!
I think many think bear market = we are ACTUALLY going to 0 (lol)
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As far as that goes, just gonna stick thru positions I've covered already and my conviction there on:
-$PSYOPANIME
-$PIGEON
-$SPARK
-$TOKABU
Maybe one day we will win hard there, but we will see at the end of the day. Will take new trades as I see fit with new info we get each passing hour/day/wk, etc.
Definitely not saying that is a metric to win on but just my observations as regard to how p/a has been reflected since then. The RR is there, clear S/L and the traders get to speculate on p/a rather than a concrete path
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Usually I don't really look at holder count as a metric too much bc all of the launches are bundled and eventually get raped out from the multiwalleters
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I cut this one bc not trying to overallocate into diff things as market has shown decline on newer narratives and just going to selectively take trades where mindshare has a possible good RR in taking
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Clearly the appetite for on-chain games are still there, just need confidence all around for one, and two non slop coins rotating the capital of what is left
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Feel like most are just waiting to see where BTC finishes dumping, Elon's interaction on Chammath's $ELON tweet, or just doing nothing
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Will this be a successful coin as I anticipate? How the FUCK would I or ANYONE know LMAO
U pick some coins you want to ride and you go for it, nobody fucking knows, anywho, back to TFT
How do you know if something is a good coin?
YOU DON'T
Until price is higher maybe, but that's where believing in something/conviction comes into play, which is what many lack // dont have the patience nor risk tolerance for that, hence why the "good coins" take off much further
Good thing the new TFT patch is balanced out now and grind city resumes
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Unfortunately majors are still not behaving tho there are good coins still in this period
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Sometimes we traders get blinded by the up-only price action and forget how great coins are first. Think we will be ok
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Will look for other stuff to position in if anything else interests me, but that concludes it for the most part today
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Aside from the tech coins, I'm only positioned in EMBER and going to be rooting for the others. Don't wanna overstep there until we see confirmation via interest in that side of things while gauging CLAWD's momentum
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Arguably bear markets is where you build your foundation and wealth, bull markets are where you put the skills to the test that you've acquired to multiply that to your portfolio.
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Also for the first cyclers, I think there is a misconception of what a 'bear market is'
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As for the OTTO trade I took on my fomowallet, I have no idea if this erc-8004 tech is even good/appealing or if it is bad/bc market sentiment is not fit for it, but am underwater there and will reanalyze. I also cut my $EMBER position as it was a thesis of treating it as a true beta to CLAWD base if momentum continued to go, however with the market as the way it is now, it's declined so buying demand has stalled and so I cut there.
I rather be wrong on trades that I've built a thesis conviction on, sticking with the plan, and cut the loss/take profit to execute when needed than be playing the new pairs that are obviously pnding more than your average traders are winning.
But the divine bid after the tweet/launch was pretty insane to witness. The 2-5m zone was respected and has went from 8.5k to 7.5k holders after the redistro phase and now to 10K again.
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10K holders breached at 3H of launch now, pretty impressive
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Meanwhile $WHITEWHALE gravedancers are shutout and the chart looks like this lol, not even in but that's a W
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Needless to say but 20m vol+ 9.7k holders since 3H of launch is quite impressive with the amount of capitulation and fear today was
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I bought some of this an hour ago then it got mindshare taken away and redistro'd. It held 1m pretty nicely so added more https://photon-sol.tinyastro.io/en/lp/DeBx2mYw7xGXRpsd72o7gFB9fEYxGApc5kcctHdkHkjr?handle=303736156aa47e7c7a8e04
You're only one $WIN away
That's why I'm going to believe in something on $PIGEON as I think the sentiment on it gives good vibes + actually a good representation of a "MEME"
Makes me laugh and can see a community bagwork on the TL
There are good coins more than there were few weeks/mos ago, that is no doubt. The fear of market (majors mainly) dipping from its higher low formations/chop sequence is just outweighing it all IMO.
On-chain will still have those opportunities you seek and will continue playing. Just don't chop yourself up in between to 0. Untilt, refocus, execute.
Bought some more $PIGEON, tried OTTO for the new ERC-8004 tech and just going to sit on hands till whatever else is good of a bid to test the waters while majors volatility do its thing
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The amount of panic that came across diff chats today was when it had its first redistro phase
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I aped some into $olive oil due to its virality and an AFK bag into $BRAINROT as well as a slow cook bc it's where the memes we get in this arc.
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NOBODY knows, place your money where YOUR conviction is, not where your fav wallet is throwing money in.
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