This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use! Reminder that they are offering up to a $600 deposit bonus through next week.Today is officially the 1 year anniversary of The Wolf Den Newsletter. Hard to believe that time has passed so quickly and that I have put out over 120 newsletters in the past 365 days. What started as an excuse to expand on the ideas of my Twitter has turned into a business and product that I am both passionate about and proud of.Thank you to all of you for coming along for the journey, it means more than you know.So.Bitcoin is correcting. Assuming you have been following along, you know that a 30% correction during a bull run has been standard historically, so this is something that we have been both expecting and preparing for. I took quite a bit of profit last weekend, as I said here:https://twitter.com/scottmelker/status/1329857124869005314?s=20I am not bearish AT ALL. I just think it is is important to know your emotions and to realize that as a professional trader you HAVE to ring the cash register and take profit early and often. If you are simply investing and believe that price will rise over time, then buy the dip and don't even think about selling. There's no point.Also, today is a perfect illustration of why you should ALWAYS have USD or USDC (USDT?) in your portfolio. This is a PART OF YOUR CRYPTO PORTFOLIO and not just dollars in another account that you view separately.There are a few reasons.1) You have to have dry powder to have the opportunity to buy dips. If you have no dollars in your portfolio, you can't buy.2) The BTC value of the USD in your account GOES UP when BTC drops. It hedges against BTC losses even if you see your USD balance drop. So you lose dollars, but you do NOT lose as much BTC.At the moment, my portfolio is down 10% in the past 24 hours in USD. I am UP 2% on my BTC balance, because I moved more into USDC last week (gaining 9% interest on Voyager) and because some of my larger and more exotic alts (EGLD for example) that I hold are actually up.Always hold dollars or stable coins - at least 15% of your portfolio.Please note that today and tomorrow are holidays in the United States. I am working hard to still deliver newsletter.A general note - whenever I draw a line on a chart, it should be viewed as elastic and not static. It is more of a zone. So the areas around those lines are usually more accurate. Further, I try to use multiple techniques and indicators on various charts, so if you are learning TA, you should read through all of these to see how I blindly look at a chart.If you are a new member, please refer to Issue 10 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-crypto-newsletter-issue-10-219754 and have it sent to you) for instructions on how to make my charts your own.IMPORTANT - I will only accept requests on Wednesdays, between 8 AM and 1 PM EST. That will make sure that they are your most pressing requests. Please mark it in your calendar and email me by responding to this email! Also mark that I will chart them LIVE ON YOUTUBE at 2PM EST EVERY WEDNESDAY!What’s In This Issue?Bitcoin Thoughts And AnalysisChart RequestsBase ProtocolBrian Armstrong Warns of Possible Threatening LegislationDon’t Day Trade on PayPal!eBay Coming to Crypto?The US Intelligence Community is Eyeing China’s CBDCThis Headline Is Stupid!The Wolf Of All Streets Podcast Ft. Chen ZurMy Recommended Platforms And Tools
The Wolf Den #123 - One Year Of The Wolf Den!
The Wolf Den #123 - One Year Of The Wolf Den!
The Wolf Den #123 - One Year Of The Wolf Den!
This newsletter is sponsored by PHEMEX, the only exchange that I use to trade crypto with leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out - you know that I never endorse a product that I do not use! Reminder that they are offering up to a $600 deposit bonus through next week.Today is officially the 1 year anniversary of The Wolf Den Newsletter. Hard to believe that time has passed so quickly and that I have put out over 120 newsletters in the past 365 days. What started as an excuse to expand on the ideas of my Twitter has turned into a business and product that I am both passionate about and proud of.Thank you to all of you for coming along for the journey, it means more than you know.So.Bitcoin is correcting. Assuming you have been following along, you know that a 30% correction during a bull run has been standard historically, so this is something that we have been both expecting and preparing for. I took quite a bit of profit last weekend, as I said here:https://twitter.com/scottmelker/status/1329857124869005314?s=20I am not bearish AT ALL. I just think it is is important to know your emotions and to realize that as a professional trader you HAVE to ring the cash register and take profit early and often. If you are simply investing and believe that price will rise over time, then buy the dip and don't even think about selling. There's no point.Also, today is a perfect illustration of why you should ALWAYS have USD or USDC (USDT?) in your portfolio. This is a PART OF YOUR CRYPTO PORTFOLIO and not just dollars in another account that you view separately.There are a few reasons.1) You have to have dry powder to have the opportunity to buy dips. If you have no dollars in your portfolio, you can't buy.2) The BTC value of the USD in your account GOES UP when BTC drops. It hedges against BTC losses even if you see your USD balance drop. So you lose dollars, but you do NOT lose as much BTC.At the moment, my portfolio is down 10% in the past 24 hours in USD. I am UP 2% on my BTC balance, because I moved more into USDC last week (gaining 9% interest on Voyager) and because some of my larger and more exotic alts (EGLD for example) that I hold are actually up.Always hold dollars or stable coins - at least 15% of your portfolio.Please note that today and tomorrow are holidays in the United States. I am working hard to still deliver newsletter.A general note - whenever I draw a line on a chart, it should be viewed as elastic and not static. It is more of a zone. So the areas around those lines are usually more accurate. Further, I try to use multiple techniques and indicators on various charts, so if you are learning TA, you should read through all of these to see how I blindly look at a chart.If you are a new member, please refer to Issue 10 (you can click on it here - https://www.getrevue.co/profile/TheWolfDen/issues/the-wolf-den-crypto-newsletter-issue-10-219754 and have it sent to you) for instructions on how to make my charts your own.IMPORTANT - I will only accept requests on Wednesdays, between 8 AM and 1 PM EST. That will make sure that they are your most pressing requests. Please mark it in your calendar and email me by responding to this email! Also mark that I will chart them LIVE ON YOUTUBE at 2PM EST EVERY WEDNESDAY!What’s In This Issue?Bitcoin Thoughts And AnalysisChart RequestsBase ProtocolBrian Armstrong Warns of Possible Threatening LegislationDon’t Day Trade on PayPal!eBay Coming to Crypto?The US Intelligence Community is Eyeing China’s CBDCThis Headline Is Stupid!The Wolf Of All Streets Podcast Ft. Chen ZurMy Recommended Platforms And Tools