✈ Friday Flight Log

ICYMI: The Trade Travel Chill Weekly Recap

This week had its fair share of turbulence 🌪️, but hopefully we will have clear skies over the weekend, and you can sit back and enjoy this week’s recap.

💸 TRADE

👩‍✈️ From the Flight Deck

Captain’s Log ✍

• On Sunday, Annii shared her concerns about a potential bull trap due to low volume and YouTube hype.
• In her mid-week update, she highlighted the levels where Bitcoin whales are placing massive buy orders far below the current price, raising further questions about the ongoing price action. She also discussed how market manipulation, unpredictability, and major news events this week are reasons to be cautious with spot purchases.
• On Thursday, Annii noted that this week’s price action has been pretty rough. The shorts waiting above price, combined with rising open interest and declining volume, suggest that the move to the upside may have been a trap for longs.

 

I don’t think this is the time to be trying to time the market exactly and go all-in at one price. I think the price action is showing us you’re probably not going to get it right if you try to