It feels to me as if the world has taken a turn for the worse in the past few weeks, with impending war in Iran, the Wuhan Virus panic and other notable events taking their toll. It will be interesting to see how markets react to this inundation of potentially negative news in the coming weeks and months. Of particular interest is the FED meeting tomorrow. The awful China coronavirus news comes at a critical time. Serious Fed firepower — three interest-rate cuts and Treasury purchases akin to quantitative easing — have yet to lift inflation close to the 2% Federal Reserve target. How will the fed react to the potentially damaging spread of the coronavirus? Will they continue to prop the market?Eyes on the fed tomorrow.On a personal note, I was stricken with equal parts grief and anger upon hearing of the death of Kobe Bryant. First, I was angry at the irresponsible news reporting that has become par for the course. This was how the news was reported.Kobe Bryant and 4 other people died in a helicopter crash.All of his children were on board.None of his children were on board.Rick Fox was on board.One daughter was on board. 7 people died.Rick Fox was not on board.9 people died.Imagine finding out that your loved ones died from hearing an unsubstantiated news report rather than from the authorities or someone you know and trust. There was a time when news was vetted before it was reported.That will likely never be the case again. This issue extends to every facet of our lives and is crucial to understand as traders. Most news we read at this point is conjecture or opinion - not hard fact. Discerning what is real is huge for predicting the movement of markets. This is becoming more difficult by the day. In crypto in particular, I favor avoiding news narrative and prefer to focus on the charts for this very reason.Back to Bryant... I know rationally that Kobe's life was no more valuable than the average person who dies tragically every day. His death strikes closer to home because he was an inspiration to myself and others.He was the rare athlete who went out on top on his own terms and never seemed to miss the game when he left. He scored 60 points in his LAST GAME. He seemed equally happy in his "second act" as his first and was doing incredible things (winning Oscars, Venture Capital, parenting) in his new life.He was an icon for me. I had a relatively successful music career, but struggled for a long time to let go and transition into new things. I knew that I was too old, that I didn't love it anymore, but had trouble moving on. Seeing someone like Kobe helped shine a light on the fact that it is possible to excel at multiple things and to reinvent yourself as something completely new - and to still add value and bring happiness to others. I am sad that we will never know how much more he could have done for the world "after basketball." I will keep his memory in my mind as I pursue my future goals in the crypto space and beyond. I am 43 years young and intend for my second act to be more impactful than my first.Side note - if you have chart requests for Thursday, please respond to this email! One chart per person, and specify USD or BTC pair. Thanks!What’s in this issue:Bitcoin Thoughts And AnalysisA Note On VolumeTraditional View On Asset AllocationLesson - How To Trade With IchimokuViruses Vs. World MarketsStart Investing Now!Altcoin Charts And TradesLegacy MarketsA Quick Lesson On Buy Walls And Sell WallsTop 10 Crypto Traders To Follow In 2020Grayscale (GBTC) Now Reporting To SEC
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The Wolf Den #16 - Bitcoin At Key Resistance…
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It feels to me as if the world has taken a turn for the worse in the past few weeks, with impending war in Iran, the Wuhan Virus panic and other notable events taking their toll. It will be interesting to see how markets react to this inundation of potentially negative news in the coming weeks and months. Of particular interest is the FED meeting tomorrow. The awful China coronavirus news comes at a critical time. Serious Fed firepower — three interest-rate cuts and Treasury purchases akin to quantitative easing — have yet to lift inflation close to the 2% Federal Reserve target. How will the fed react to the potentially damaging spread of the coronavirus? Will they continue to prop the market?Eyes on the fed tomorrow.On a personal note, I was stricken with equal parts grief and anger upon hearing of the death of Kobe Bryant. First, I was angry at the irresponsible news reporting that has become par for the course. This was how the news was reported.Kobe Bryant and 4 other people died in a helicopter crash.All of his children were on board.None of his children were on board.Rick Fox was on board.One daughter was on board. 7 people died.Rick Fox was not on board.9 people died.Imagine finding out that your loved ones died from hearing an unsubstantiated news report rather than from the authorities or someone you know and trust. There was a time when news was vetted before it was reported.That will likely never be the case again. This issue extends to every facet of our lives and is crucial to understand as traders. Most news we read at this point is conjecture or opinion - not hard fact. Discerning what is real is huge for predicting the movement of markets. This is becoming more difficult by the day. In crypto in particular, I favor avoiding news narrative and prefer to focus on the charts for this very reason.Back to Bryant... I know rationally that Kobe's life was no more valuable than the average person who dies tragically every day. His death strikes closer to home because he was an inspiration to myself and others.He was the rare athlete who went out on top on his own terms and never seemed to miss the game when he left. He scored 60 points in his LAST GAME. He seemed equally happy in his "second act" as his first and was doing incredible things (winning Oscars, Venture Capital, parenting) in his new life.He was an icon for me. I had a relatively successful music career, but struggled for a long time to let go and transition into new things. I knew that I was too old, that I didn't love it anymore, but had trouble moving on. Seeing someone like Kobe helped shine a light on the fact that it is possible to excel at multiple things and to reinvent yourself as something completely new - and to still add value and bring happiness to others. I am sad that we will never know how much more he could have done for the world "after basketball." I will keep his memory in my mind as I pursue my future goals in the crypto space and beyond. I am 43 years young and intend for my second act to be more impactful than my first.Side note - if you have chart requests for Thursday, please respond to this email! One chart per person, and specify USD or BTC pair. Thanks!What’s in this issue:Bitcoin Thoughts And AnalysisA Note On VolumeTraditional View On Asset AllocationLesson - How To Trade With IchimokuViruses Vs. World MarketsStart Investing Now!Altcoin Charts And TradesLegacy MarketsA Quick Lesson On Buy Walls And Sell WallsTop 10 Crypto Traders To Follow In 2020Grayscale (GBTC) Now Reporting To SEC