Market Thoughts 6/13/22

Been a tough couple of weeks in the hospital business, I'm tired lads. Still, with even more fuckery afoot in the market I would be remiss not to take a look at some charts.

I will start by saying that I am glad my exposure to Ethereum is minimal right now. I am even more pleased that I have even less exposure in shitcoins. If $1,200 support breaks I think that we will see ETH under 1k. With these tough economic times, inflation, shortages, and people talking about not having enough money to drive. I see no reason to believe that ETH will approach $1,700 anytime soon. I think shitcoins will be absolutely obliterated short term.

Bitcoin lost a major support. There is strong support in the $23-24k region however, so I will be keeping an eye out. I am not really interested in trading volatility, so I am just watching right now. If we lose 23k support, we could see even more frantic volatility. I don't have the time required to manage a trade in that fashion. Working full time has always been my Achilles Heel. I inevitably sacrifice sleep and that never works out well. That said, I am looking for that sweet spot to place a giga long. I just don't know how long that will take. Remember, my plan is based on a minimum 2 yr time frame. I am just not in a rush, when I think I see it, I will shoot my shot.

I am happy with my current Stacks exposure. I am definitely keeping my eye on the chart. When I think I see bottom on Stacks I am going giga long here as well. I think Stacks will move with Bitcoin.

Pay attention to the builders. Who is building right now? That is who you want to know about. What are they building? What can it actually do for normal people? Look for the builders who are future facing, crafting solutions to our problems. What are our problems? Look around, they aren't hard to spot. This is why I am bullish on Stacks, these teams are steadily building. The community is growing, slowly, this isn't about hype. This is what I want to see, people organically being bullish on a crypto project when everyone else is panicking. If you can do this in the bear, how much more can you do in the bull? This is called being early. This is why I am bullish on Stacks.

All that said, this is not financial advice. I am not a professional. I am doing something I love, talking about the market. Your plan has to be your plan. In my plan I am playing the long game, so my risk tolerances are not yours. Finally, I could be totally wrong. I am only using money that I can afford to lose. I am a big believer in mitigating risk, some people like to hedge trades. I mitigate my risk by how I build my trades. You likely have a vastly different process. If I have learned anything it is that I have to trade in a fashion that I am comfortable with. I lost so much in the beginning trying to copy trade people. It doesn't work.

I have exposure in Bitcoin NFTs, some are just because I like to look at them. Some are because I have plans to use them, and some are based on what I am most bullish on so far. I will continue to be a buyer of Bitcoin NFTs. I think they will have a massively bullish cycle in their future.

That's all I have to say for now, thanks for reading as always. Until next time, Jack.