Hello BT Family. I pray everyone is doing well.
Previous Mentor’s Memo Posts
Click the “Mentor’s Memo” button on the main page to access previous posts. Main page button is at the bottom of this post.
Pi App Update
We are waiting now for the KYC process to be announced. Stay tuned for instructions. Once I know what to do with it, I can give you all some guidance. 🙂
Bearish Or Bullish Market???
I have been over and over and over and over again about the possible market dumps over the past couple of weeks. As of this week, it “looks like” the market has turned bullish on us after the war with Russia and the Ukraine have caused prices to change up and down in short spurts.
But, beware of the possible selloffs as people who are understanding the market structure are only out to take profits as high of a percentage as possible in bearish times. These fake out market pumps in the bear market times can be very confusing and could cause you to let your guard down.
So, please stay alert and even if my initial analysis does not show an immediate market reaction to suggested moves. Just know that it will likely happen at some point when you’re least expecting it. 🙂
Watch Steve’s Video About The Macro Market Trends
Of course Steve at Crypto Crew University is where I have learned more than half of my chart TA skills from. I completely respect and follow his knowledge to help me get better with my own personal skills as a trader and mentor.
He posted a video earlier today that I decided to watch. I don’t watch his videos every week like I used to do. But, every now and then, I take the time to watch just to see if where my initial thoughts are do line up with his in some way…
Now that you guys have been taught some of the usual trader’s jargon or slang, you might be able to understand what Steve is pointing out in his video for us to know about the possible moves of the long term picture of the macro market setup. Enjoy and learn… 🙂 Click here to view the video…Â
Certainly ask me any questions if you have them too!!!
Weekly Challenge Results
I took a moment today to pull an analysis of what the amount of rewards that the group has received for participating in the challenges. Starting the first challenge in December 2021 until last week’s payouts, the rewards totals that have been earned for participating has been a total of $840 shared among all participants.
The participants who have beaten “your mentor” for the entire period are Princess and Jane… 🙂 Congrats to you both for having continued success making better picks than your mentor over the total of 3 months… LOL
I am still proud of everyone being able to see success in making picks. I pray that everyone is using their rewards to fund your own personal trading accounts to build wealth.
As of the end of this month, we will no longer have the same kind of payouts as we have seen up till now. We will run a monthly challenge that has weekly updates to the monthly totals.
At the end of each month, the final rankings will be based on averages and not just who is ahead in each individual week. This new challenge format will run thru the end of 2022.
It will teach you how to adjust your trade positions in real time along with how to move trades around to capitalize on your existing trades.Â
For now, just enjoy the new “LONG” and “SHORT” format. I think you will have much fun and success with it.
Chart Drawing & Market Trends (NOTE I am working on this)… 🙂
For those who would like to know how to draw the lines on charts and define the trends on a market I will be hosting some tutorial videos for how to do these things on your phone or computer.
The videos will be simple 1-2 minute lengths where you can practice the process in your own time. Please look out for the announcements with the specified links to come in the days/weeks ahead.
Enjoy them and learn well… 🙂