My stop-losses have triggered... I've lost my 4%, and I'm back in the game. Feels nice to be wrong. Truth be told, it makes sense because this run is clearly stronger than 2019's and by my count that means Bitcoin should get at least to $37k.
I don't think I'm going to try to pull that silly front-running technique again... I'm just going to wait for the top to blow off this thing... it won't be long now... maybe a couple of weeks. Sometime in January for sure.
Honestly I'm still holding out hope that people get really stupid when Biden takes office. I could definitely imagine some people with deep pockets shoving all in on Bitcoin because they are mad/scared about the regime change... or even because they are happy about it. It's really a win/win on both sides.
As long as the market has certainty, I guess we're going to continue on the way up. $40k is the next real mental barrier, but I think the real resistance is at $50k if you ask me.
When we got that dump today I thought that was the signal of a blow off top... but really it was just some big whale pulling the trigger... all that liquidity got eaten up by institutional investors immediately... pretty crazy. In 2019 we got that crazy volatility on the way up, not because of some crazy dump. I guess I'll be looking for that scenario in the future: aka FOMO buying.
Liquidity is off the damn charts. 48k Bitcoin sloshing around on Coinbase alone and the price is still shooting up. Again, wow. This bull is unstoppable. Don't be surprised if Michael Saylor has changed a lot of CEO's minds about the strength of Bitcoin.
This leads me to even more strongly believe now, more than ever, that holding any cryptocurrency other than Bitcoin is a complete liability. Sure, alts can and do moon all the time, like Doge and whatever else, but it's really just a crapshoot just like trying to guess the top.
Conclusion
Trying to trade during a Mega-Bubble year during unprecedented economic conditions is quite likely a fool's errand. Corporations and institutions are still heavily buying into the space, and it's hard to see where this is going to end.