Mentor’s Memo 4/1/22

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 still waiting 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. 🙂

Markets broke bullish in the past 3 weeks

While we have seen a nice bullish run (rally) over the past few weeks. Keep in mind that the overall market pattern is still in a bearish market until we cross above $64k in BTC so that we can retest the ATH of $69k.

In the meantime, our market stair stepping upwards in the short term would be a retest at $51k-$52k BTC. That is the next level or resistance above $48k BTC. We have already seen a rejection at the $48k level this week and then we dumped down to the $44k BTC level.

One of the main things keeping the markets up is ETH project related to the DeFi, Metaverse and NFT that continues to grow in the space. As more money gets pumped into the crypto markets resulting from those projects, it does help feed the moves in BTC and ETH prices collectively.

Levels To Watch Daily On BTC Prices

If we break higher than the $48k level, expect retests up to between $51k-$54k to be seen within that week after the breakout.

If we drop below $44.5k in the short terms, expect retests down to between $41.7k-$42.3k within a day or so after the breakdown.

Weekly Challenge Changes As Of April 1

As I have mentioned in past posts, I am very proud to see everyone grasp the knowledge of making good trade decisions using the simulated challenges. 

Upcoming in this month of April, there will be some new twists in the game. The payouts will be done at the end of the month, instead of the end of the week.

But….. 🙂 You still need to participate weekly in order to make yourself relevant to winning the top prize for the month.

What’s new? Here it is below:

  1. You will have a “virtual” $300 budget for spending “on the challenges”.
  2. You will have to pick 3 coins per week and use a portion of the virtual funds on each pick until the $300 is used up.
  3. The buy price will be same as always, the time stamp of your pick(s) and what the charts show at that time or next price available if your coin did not have a price posting at the exact timestamp of your pick(s).
  4. The total amount of profits calculated from your 3 trades will determine the top profit earner for the week.
  5. No sell price will be necessary, as we will use the highest price on a LONG trade or lowest price on a SHORT trade that has been reached for the week ending the usual time.
  6. The top performer for the week will be given opportunity use a TA that has funds for trading for the next week only. And whatever profits that can be earned for that next week will be split 50/50 with the funding program. That will be your weekly prize opportunity. NOTE: There cannot be the same winner during the month to use the TA. In those cases, the 2nd place winner will be eligible. In other words, 4 different players will be able to take advantage of finishing as high as possible weekly to get a chance at using the TA for a week.

I’m looking forward to this challenge among you. Your mentor will not be included in the winning positions for this version of the challenge, but I will be submitting my picks to challenge myself against my students of the game 🙂 

Chart Drawing & Market Trends (NOTE I am still 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… 🙂