$INJ is now officially live on @fomo
Track real-time updates and posts directly from the Injective team.
Stay tuned as we reveal something new later today 👀
A very valuable trading lesson:
The thing with trading is that it’s fun to get excited & it’s fun to think it’ll keep going your way.
But you always need to consider the “what if” it doesn’t go your way. Or think bigger and look at multiple points of view.
Yes, there are lots of macro bullish signs - but we have a recent development of bearish signs at a macro resistance level that could very easily play out.
That leads to if it doesn’t go my way, what is my risk?
Because if you were to buy right now at 81k - your risk is extremely high considering that we’re at resistance with some recent HTF bear formations. Yes there’s a chance we breakout - BUT we’re at a resistance in a market that consolidates between S/R 90% of the time. So arguably there’s a 90% chance we don’t breakout (yet) and you lose this trade.
Imagine what happens if these 1W bear divs play out & bitcoin:native drops to 55k from here. All these celebrations will turn into despair because they never thought about the “what if” and looked at a different point of view. They took a risk based on emotional fomo rather than fact.
And I’m not trying to be a “perma bear”. I’ve been buying spot since June 6th. My job is to point out the facts and the fact is that bitcoin:native hasn’t broken its macro structure and until it does there is no reason to get ahead of yourself.
And I’m also not saying we can’t break through 82.5k. I’m saying we haven’t yet which means structure hasn’t broken. We are technically making lower highs inside a bear market currently. You’d be jumping the gun buying here because if you’re wrong and we don’t breakout - you took a very easy avoidable loss.
And look, if we do breakout then we do. You missed it. That sucks. You should have been buying a lot sooner. There were bullish signs all over the place. I pointed them out for months. The best thing you can do is regather your thoughts and wait for the next reasonable opportunity because buying at resistance with bear signals generally doesn’t work long term.