033. PIGGISH PLAY - Long MANA/USDBeen a while since I posted a pig play. This is mainly because I have been waiting patiently for markets to pullback or crash for months now. While I have posted some short plays, this market is being propped up on hot air and it has become clear that trading should be done sparingly until this topping nonsense comes to an end.
Meanwhile, I have many ideas for AFTER the drop in the stock indices and bitcoin and only two bullish ideas for the here and now: gold and mana.
One could argue on behalf of either of these assets for being the next major wealth transfer destination for their inherit defensive properties against inflation. As natural safe harbors for wealth preservation (well, gold for sure and mana tbd), I feel comfortable longing either and/or both in the near-term.
I have stated before that MANA is particularly interesting to me because it is (for now) completely decentralized - meaning the central banks cannot f with the supply dynamics via obviously bad policy practices. I love gold, but in keeping with the crypto zeitgeist and the general trend of computerizing assets, I present you with the idea above.
The instructions are all displayed in the chart and if you follow them somewhat closely, I am sure that you will be happy you did in a year's time.
The last and most important item is to WAIT FOR BITCOIN TO RETRACE SIGNIFICANTLY before an entry consideration into MANA or any other coin. Alternatively, for the more diligent crowd, you can see whether MANA diverges from BTC as BTC is dropping via basic side-by-side observation or keeping a close tab on the near-term correlation coefficient. Either method can serve as additional confirmation of a bullish future for MANA, but I would still wait for the price levels depicted above before entering.
That is all, best of luck, don't get greedy in stocks, etc.
-MANIC-PIG, MANA-PIG
COINBASE:MANAUSD
BINGX:MANAUSDT
COINBASE:MANAEUR
COINBASE:BTCUSD
COINBASE:ETHUSD
BITPANDAPRO:BTCEUR
BITPANDAPRO:ETHEUR
