Hello Friend,
How have you been doing?
I've been wanting to send you a good video update but I'm dealing with some kind of bronchitis and a bad cough so my voice and breath are a little weak. We'll hold off on the video update for now but I want to get you something here as I know you're watching the markets and wondering where we're at. Well, it's been seven months in waiting with some nail biting along the way, but Bitcoin is finally achieving new all time highs. It's been a long test of patience.
We are still fully vested in our original BTC positions and holding solid from a position of strength. The recent downturn was a true test of faith and required some management but all of our positions are now in the green which seems a little strange after the last 7-8 months when price went for a deep dive.
You can see in the image overlay below, which is our model: we have the 'channel' which is the lighter green area in between the price action for the same time period 'Post halving' for the 2012 cycle and the 2016 cycle. The current cycle and price is the white line and you can see that, even though we tested the limits, we're still on track to follow the model as price action is almost identical right now to the 2016 post halving cycle price action. In other words, we're right on track.
This week price has shot almost straight up and we're not going to chase it with FOMO (Fear of Missing Out). Most assuredly there will be profit taking and a pullback or correction. So we'll probably take 'wait and see' attitude between now and early next week before looking for new entry points to add more positions as our strategy previously discussed calls for.
We are also benefiting from some small positions in Silver, Corn and Ethereum which are also longer term plays which we'll be sitting on for awhile. Oil is expected to easily see $100 a barrel and we're looking for good entry points there to balance things out a bit.
So if you are really into watching the market I'll leave you with some great analysis from Jordan of Conquer The Markets (CTM) here: https://youtu.be/JvTW028CzI0
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