Buying Insurance; Happy with both outcomes

30 ene 2021

I predict that there might be a huge sell-off from short term traders hoping to ride the momentum led by Maiar launch. These traders are likely not hanging around because of Elrond's superb fundamentals nor know anything about Elrond. Overrall still bullish with EGLD in the long run (1k EOY) but would like to hedge my EGLD with a short position to be opened anytime before the launch. Seeing that the dip after previous parabolic moves ranges from 10-20%, I intend on setting a limit sell order -10% from the ATH so that there's still a high chance that it will never even get triggered. This position is purely meant as a HEDGE! Will be happy to lose the amount that I'm using to open this short position.

Happy MAIAR launch. On 1st Feb if my order isn't triggered then I'll know that EGLD will be going straight to moon! Will be buying 200usd of EGLD to earn the 10usd of EGLD bonus. Excites!