Hello friends.
I earned $4,000 shorting LUNC near the top. I want to sincerely thank every single retail trader who argued against me in the comments and provided me the liquidity needed to short this horse shit. Your losses will not be for nothing, as I will spend them wisely. The market manipulators who extracted billions of dollars from you "lottery ticket" mindset gamblers will also make sure to spend their hard-earned profits wisely. As such, one could argue that in fact LUNC is not a scam, but rather a redistribution of wealth from the ones who don't deserve it to the ones who do.
I've now closed my short at the low, and I'm waiting for another opportunity to short it again. It's clear that there's still some bullish sentiment as seen with these Youtube thumbnails, but in reality, many traders have sold out for a loss or are starting to get worried. This kind of momentum is always how a pump and dump scheme like LUNC ends, and when it starts getting nuked down it almost never comes back to fresh highs unless it's to briefly sweep the high before going much lower like Bitcoin did a year back.
The best bulls can hope for now is a small retracement up about 50% before the true collapse begins. Bears like us will also want this rally so that we can reload our short positions at a higher and more favorable price. The "catalyst" for this movement upwards could be something of the nature of Binance announcing that it will burn all LUNC trades on its platform. This would invigorate the gamblers to continue buying, based on their delusion that this would actually have any long-term impact on LUNC's price potential. This idea is not remotely true, but truth and facts are aside from the point in crypto land. Speculative delusions are far more important than truth, and herd behaviors around an event where you give them something to speculate about could cause a spike upwards in price.
Since there is a potential "catalyst" for prices to pump further, I like to phrase the market like this: "Risk is to the upside" (for now). What that means is the risk of an event occurring that sends price pumping is currently far greater than the risk of an event occurring that sends price nuking. Thus, "Risk is to the upside", at least for the next week or so. Think about it like when CEL token bottomed the exact day Celcius declared bankruptcy. The worst had happened, and so the risk was that something good might actually happen following that.
Thanks for the money.
I earned $4,000 shorting LUNC near the top. I want to sincerely thank every single retail trader who argued against me in the comments and provided me the liquidity needed to short this horse shit. Your losses will not be for nothing, as I will spend them wisely. The market manipulators who extracted billions of dollars from you "lottery ticket" mindset gamblers will also make sure to spend their hard-earned profits wisely. As such, one could argue that in fact LUNC is not a scam, but rather a redistribution of wealth from the ones who don't deserve it to the ones who do.
I've now closed my short at the low, and I'm waiting for another opportunity to short it again. It's clear that there's still some bullish sentiment as seen with these Youtube thumbnails, but in reality, many traders have sold out for a loss or are starting to get worried. This kind of momentum is always how a pump and dump scheme like LUNC ends, and when it starts getting nuked down it almost never comes back to fresh highs unless it's to briefly sweep the high before going much lower like Bitcoin did a year back.
The best bulls can hope for now is a small retracement up about 50% before the true collapse begins. Bears like us will also want this rally so that we can reload our short positions at a higher and more favorable price. The "catalyst" for this movement upwards could be something of the nature of Binance announcing that it will burn all LUNC trades on its platform. This would invigorate the gamblers to continue buying, based on their delusion that this would actually have any long-term impact on LUNC's price potential. This idea is not remotely true, but truth and facts are aside from the point in crypto land. Speculative delusions are far more important than truth, and herd behaviors around an event where you give them something to speculate about could cause a spike upwards in price.
Since there is a potential "catalyst" for prices to pump further, I like to phrase the market like this: "Risk is to the upside" (for now). What that means is the risk of an event occurring that sends price pumping is currently far greater than the risk of an event occurring that sends price nuking. Thus, "Risk is to the upside", at least for the next week or so. Think about it like when CEL token bottomed the exact day Celcius declared bankruptcy. The worst had happened, and so the risk was that something good might actually happen following that.
Thanks for the money.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.