TL:DR - Buy Sceptres like Bitcoin. Now.
New “Pharaoh’s Sceptre (Uncharged)” was added a few days ago with extra charges for diary tiers. Coincides with the new Raid at new desert pyramid. Yet to be launched.
Trade limit - 10k every 4 hours.
Only about 10k of them were traded in the first days following launch. At best - those looking to accumulate only got about 5k of them stashed - max.
We are now 2 full days into trading FLAT into a sell-wall at 4.49M.
Pull up the chart! Buy pressure has been slowly grinding from 4.2m to 4.44m while the sell level has frozen at 4.49m. There is currently a 15k spread after GE tax - flippers can no longer participate profitably!
LET’S DO SOME MATH!
With 5k sceptres ABSOLUTE MAX (likely half of that) sitting on that 4.49M sell-wall - we have seen 1.5k average trading volume for the past 2 days.
We can assume ~750 sceptres bought each day at the sell-wall. 1500 down so far.
THE THEORY:
I’m implying that there are only a couple days before sceptres break that 4.5M resistance level and go for an absolute blue-sky breakout.
“But wait” - you say! “That sounds risky! The new sceptres can hold 100 charges so demand will surely dwindle! Who’s to say they continue trending up anyway?!”
That IS my main risk factor - the amount of charges. However - I’m looking to close this position in a week or so - assumably before the event even launches. I’m taking this trade from a technical, mathematical perspective based on volume and price action.
If my short-term play fails, I expect enough buy-pressure at Raid launch to ensure a profitable exit.
I give this a 90% home-run rating. As such, 80% of my bank is currently in sceptres and I’m still buying above 4.4M with the rest of these anonymous cowboys that I see placing bulk orders.
Fortune favours the brave. Not RS financial advice. See you on the exchange 😉
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