Egggg yolk, what is going on with the Chico
Army & if your a newbie, a viewer of the tube.
I’m the host Tyler, and this is the crypto
channel, that brings you more questions than
answers, kind of like this video clip….have
a nice trip, see you next fall!?
It’s time for Chico Crypto!
Well isn’t this nice, 10k seems to be holding,
and even further seems to be holding, 1 thousand
dollars above….the 11k level.
What about that 9.6k CME gap?
It needs to be filled right???
Wrong.
Cuz Bitcorn gonna bitcoin & the setup isn’t
fully complete...yet.
What do I mean?
Well, I explained it better in this video,
that youtube analytics decided to fudge up
on, so it performed absolutely terrible, kindly
give it a watch if you would to help it get
the views it deserve.
But, in short, pulling out the bitcoin 7 day
chart...with the bullish price runup from
9300 to over 11k...there has been a good amount
of liquidations, mostly “shorts” which
in total over 7 days, has been liquidations
of over 236 million face value, on BitMEX
shorts alone.
Now breaking it down by day, we can see the
bulk of short liquidations in the green, came
over the weekend on Saturday 65 million & on
Sunday 120 million in short liquidations.
Now as we know, on Monday, Bitcoin reached
a peak of around 11200, and then took a pretty
steep dip down, to 10700...now, if you know
what leverage is, and you go 50x or 100x,
you have no wiggle room if you go long or
short, that serious of price movements, should
of set off a flurry of long liquidations,
if degenerate gamblers were getting confident...but
as we can see, it only reached 15 million
in long liquidations, the red...on Monday
the 27th.
There were some that took the bait, but not
enough...so, I personally don’t think we
take the BIG Dip, just yet...there is still
much more room to be made rekting the shorters
than the longers in my personal opinion.
We have traders setting up big shorts, as
we speak...the levels we are at right now,
are serious levels...as we have once tried
to get past 10k in February of this year,
but “the rona” fizzled that one out, and
then of course back in June of last year,
we got past just past the levels we are at
right now, but got rejected.
Twice now, Bitcoin hasn’t been able to sustain
prices and keep bull pumping forward.
The rona isn’t gone, and the past tells
us down, and people know that, thus I think
it will go in the opposite direction….
But for how long?
Well this leads me into the title of my video,
my Cash out plan for this bullrun.
Now the last time I did a video like this….it
was about a year ago, in early July 2019.
And my plan, was to begin cashing out at the
old 2017 all time high of 20k...beginning
with 10 percent of my portfolio then, and
then each 10k move up, if bitcoin reaches
30k..then another 10 percent, 40k...another
10 percent, 50k another 10 percent and so
on and so forth.
And the cash out would come in the form of
a stablecoin, DAI which I would use in DeFi
to earn interest on, until deciding to rebuy,
hopefully at lower prices, when the big crash
comes.
But, I have seriously adjusted that since
then….the markets have changed, the world
has changed, and DeFi has changed and evolved.
So what’s my plan now??
Well, we have to understand that it's very
very uncertain what is going to happen...but
one thing we do know, is the lifeline of how
crypto functions, the volumes we see, is a
factor of one thing and one thing only….Tether
USDT, per example the volume of that stablecoin,
was over 29 billion dollars yesterday, while
bitcoin was only 24 million.
It’s the dominant trading pair, yet I’m
sure you at home, if you ask all your trader
friends, hey you use Tether?
They would say, no….So Who uses it?
No one really can say, but supposedly just
large Chinese whales, that deal with Russian
OTCs.
But the stablecoin has a big ole target on
it’s back, as we know, and there is a likelihood,
it implodes...that is not out of the realm
of possibility, and actually in my opinion,
is a likelihood.
I wish I could tell you exactly when, but
your guess of the exact date is as good as
mine, although….Tether and corrupt financial
operations, are currently being protected
by the current United States administration.
It’s freaking obvious, if you can’t tell.
The New York prosecutor, going after Tether,
AG James, is not friend of Mr. Trump...suing
the administration on multiple occasions….which
has grinded Trumpster’s gears, tweeting
and crying about it but not meaning her by
name...In which she responded “As the elected
AG of NY, I have a sworn duty to protect & uphold
state law.
My office will follow the facts of any case,
wherever they lead.
Make no mistake: No one is above the law,
not even the President.
P.S.
My name is Letitia James.
(You can call me Tish.)
So ya their is bad blood, and the most suspect
thing of all in my opinion, that Tether may
be trying to be protected, is when Trump specifically
fired Geoffery Berman, The prosecutor going
after Reggie Fowler and the shadow bank crypto
capital...which is directly tied to AG Jame’s
Tether case, as yesterday, I showed they have
to turn over all banking relationship documents
and communication, including that of crypto
capital.
Now, I don’t want to get too deep on you,
but don’t you find it suspicious, that Berman
was also investigating the ole Epstiener stuff,
including trying to get interviews with Prince
Andrew...and then FIRED?
Ya I have a feeling, Tether, BITCOIN and crypto
is tied to all of this.
But hey that’s just me.
Soooo all of that, makes me weary as can be
about this November, election time.
And why don’t we look to crypto, to see
what’s the public sentiment is….Augur
V2 just launched, which shows what people
are predicting on outcomes, and they don’t
think Trump is gonna win...but this isn’t
limited to crypto...across betting, and predictions...trump
has slid like a MOFO, with only a 36.4 percent
chance of taking it.
And if he loses, and if I’m correct that
things will be uncovered about Bitcoin and
Tether, which go beyond just fractional reserves
and hiding the loss of funds, BITCOIN will
go down with that crushing news.
And in my opinion steeply.
Thus the bigger chance of loss in November,
the quicker and bigger the PUMP!
So, my plan is to start cashing out, once
we hit the range of 13k to 14k.
It won’t be in 10 percent increments like
before, but 5 percent increments.
So, at 14k, 5 percent of my portfolio will
be sold, and it will be half 100 percent altcoins...no
BTC or Ethereum.
Why?
That level is unknown territory….we have
only spent a total of 6 days during the 2017
runup, and January fall in the range of 12.5
k to 15k...just 6 days back then...and the
last time, we got there, just a single day,
in June of 2019.
So, if that is gonna be the peak, at least
I will have 5 percent of my altcoin dust taken
out and secured this time.
So, like last time...will I be cashing out
into DAI?
Actually no, and some people might hate me
for this, but 50 percent USDC & 50 percent
DAI...why have I decided to do this?
Well, let’s just listen to Vitalik, just
2 days ago, and what he said regarding his
concerns with DeFi…
Yes, underestimating, the risks of smart contracts
and Dai is a smart contract.
The most trusted, time tested decentralized
stablecoin, but there is risk there nonetheless.
Now I know, USDC, is not decentralized, but
fully centralized with Circle and Coinbase
behind it, and running the banking relationships,
which hold the USD backing it.
But those dollar accounts are audited unlike
Tether, and they have the functionality of
actually being able to redeem it
for
those dollars, unlike Tether.
Although since it’s fully regulated, there
is the risk of blacklist, as just last month
in June, Circle confirmed freezing 100k, at
the request of law enforcement.
But if you're not doing anything wrong, you
don’t have anything to worry about.
So, the next move I will make will be between
15k to 16k...as if we get past and stay past
14k, things will get moving and they will
get moving quick.
I plan to now begin taking out bigger chunks,
beginning with 10 percent of what is left.
All Altcoins, and the Same 50-50 ratio applies-
5 percent DAI and 5 percent USDC.
The same goes for the next move, skip 1k and
cash out in the next range 17k to 18k range
and this time bump it up to 20 percent of
what I have left.
As this will be bubbly territory.
This time, 15 percent altcoins, and 5 percent
bitcoin and Ethereum.
Finally, it’s time to skip another 1k, and
start cashing out in the 19k to 20k range,
and I vow if this comes before, or around
elections time, to cash out 50 percent of
what I have left, but this time, 100 percent
USDC, as the amount of money cashed out, will
be risky to leave full trust to a pretty damn
young still smart contract.
And this will be 30 percent bitcoin and Ethereum,
20 percent altcoins, because the ALTS left
are the ones I’m gungho on, my top and I’m
not letting them GO, Chainlink, EWT…
By taking out 5 percent first, then 10 percent
of what is left, then 20 percent of that,
and finally 50 percent.
That would leave me with about 1/3rd of my
cryptocurrency stack left, a majority bitcoin
and ethereum, with my strongest altcoins..and
with this, I’m gonna let it ride...because
the prices could go much higher, they could
go right smack back down to 3k like in 2017.
And this strategy could change & change real
quick.
I’m just a guy with a computer, I have no
idea what will happen, and you should form
your own strategy, based on multiple sources
of information.
Cheers I’ll see you next time!
