Hello everyone, it has been a while. I spent the past three weeks exploring the British countryside, enjoying the peace and quiet, drinking loads of tea and coffee, eating well, and, overall, recharging to prepare for the new bull market on the horizon. It's been great to get away from it all, but as the weeks went on, I more and more felt the itch of getting back to work. It's good to be back! I hope you are doing as well as I am. Let's get into a new update on the market, which from the looks of it - should be pretty light despite my three week absence, the market has barely moved an inch. That being said, there are some interesting developments nonetheless. While the price has barely moved, I feel the weekly chart has still moved in the right direction. Another three weeks have passed, bringing us closer to where a bottom usually forms: a year after the cycle highs. In this case, that'd mean a bottom forms right around the start of Q4 - just nine weeks away. Obviously not an exact science even if that pattern repeats (which it may not) - but it ties in well with my accumulation planning - and thus I keep my eyes on the start of Q4.
Obviously, the rest of the weekly chart leaves very little to discuss. The past 4 weekly candles have all traded within a $3,300 range. Not much has happened. And yet, if we zoom in to the daily chart, there is one clear takeaway; the bulls are regaining control. However, we usually start to see more action again towards the start of September, with volume and volatility picking up again as people return from their summer breaks. The real fight for support happens then, and until then, all I can do is stay the course. Dollar. Cost. Average.
ALTCOINS The altcoins landscape is not much different. Many coins have been struggling these past few weeks, pulling back or even making new lows. HYPE is an outlier, in the sense that it pulled back earlier and is now promisingly reclaiming some levels - not too dissimilar from how I thought it would go. Still holding those bags, and expecting it to do well again once the market wraps up its summer lull. Still liking that chart. ONDO & JTO are still in there re-accumulation stages. Both had a solid bottom form in the first half of the year, and broke out - but haven't found the strength to keep pushing higher just yet. All fine by me, I accumulated in this range, and might pick up some more here and there if we really get a good discount again. Missed that opportunity on JTO to buy sub $0.50, that would've been a good opportunity to buy some more. Plan remains the same, holding both until they're trading significantly higher. Haven't scoured for new altcoin opportunities - but as you know I don't wanna overinvest in alts too much, so unless I find a golden opportunity, I don't think i'll be adding more altcoins to my holdings anytime soon anyway. Will let you know if that changes, of course.
STOCKS The stock market printed new all-time highs during my absence, further pushing the portfolio into profits. I simply continue to DCA every month - while monitoring my individual stocks for larger spikes higher to trim those positions and move them into the S&P instead. The idea is to eventually have a completely passive stock portfolio that auto-compounds its way into retirement - while using Bitcoin as a turbocharger for that process, and so far - it's working well. Slowly reduce individual stocks, accumulate ETFs, chill. I feel like the market is 'due' a larger correction, but those things are hard to predict, and may be a while before they actually come. As such, I'm not trying to time the market - simply DCA-ing while having funds ready for a lump sum purchase if that larger correction finally comes. Perhaps around the midterms, would make sense with BTC Q4 bottom as well.
Q&A? I think this week would be a good time for a Q&A session, either livestreamed or through the chat feature. Anything you guys wanna discuss? Closing That's all for this week. Will keep you posted on positioning changes as usual, let me know if theres a need for Q&A session - and as always, have a great week! Cheers, J