I closed my longs yesterday before the US session.
The reason for this was fear of $SBET performance & a suggestion from the Giver about US sessions on Mondays.
Despite closing positions, I still made a huge mistake:
$ENA announced a $360 million buyback yesterday.
Each day, they are going to market buy $5m worth of $ENA - at the current price, around 8% of the circulating supply.
In my opinion, this is very bullish.
As you know, I track projects with buybacks: $HYPE, $BONK
The buybacks from $ENA dwarf both of these.
So I went max long around 2-3 hours before the close of the US session.
Today I woke up with a 10% loss on size.
What went wrong?
1) Of course, this announcement was front-run by insiders. Insider flows vastly outweigh the $5m daily buyback.
2) The US session wasn't over, and there was more "dip left in the charts". I got greedy and bought despite my short-term bullish stance.
Which brings me to a difficult situation today:
My bias on $ENA changed from mega bullish to neutral.
There is a real risk that insider flows mute the chart going forward.
But at the same time, I sit on a large loss & don't want to cut it.
The overall bias is bullish, especially on the Solana eco.
What would you do in this situation?
1) Take the loss on $ENA and move to other coins
2) Hold $ENA and try to make it back
Please vote below:

Seems like I can't add a poll below a post.
Appreciate any comments.
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