reading the launch block
from the desk
Every trench has a launch block, and every launch block has a story. The first wallets in are either the team, the snipers, or the suckers — and the only way to tell them apart is to watch what they do next. Buyers who hold are conviction; buyers who sell into the second candle are exit liquidity looking for a face. The terminal can show you the trades. Reading them is the part no chart does for you.
This is where the post would keep going — the second argument, the counter-example, the hard-won caveat. For now, the lesson is the same every week: the chart shows the trade, the ledger shows the trader, and the honest terminal shows the difference.