This past week has been absolutely devastating to the crypto space as a true Black Swan event occurred and we all witnessed history made. Billions were wiped out in a couple of days. Trust was destroyed. And this has all stained the crypto community in such a way that it may take years to actually recover.
Regardless, many of us were invested in LUNA, the crypto I am referencing in the Black Swan event, as it was completely annihilated. Backers of UST, Luna's stablecoin were forced to sell BTC and ETH in the midst of already heavy selling pressure in attempts to keep UST pegged to the dollar. All attempts failed and we witness a digital bank run. An event like this has not been seen before.
This brings me to the subject of this post and my video. I started this whole thing months ago for two reasons:
1. It's fun for me. I enjoy doing technical analysis and trading crypto.
2. I want to help others understand technical analysis and hopefully, make money by using this tool to their benefit.
3. It was something I could do as a hobby that didn’t interfere with my current employment and commitments to my employer.
If I feel that some of those main objectives are not being met, I have to step back, reassess, and potentially reset. And that is the situation I have arrived at. We are now in bear territory. I must prepare myself to aid all of you in dealing with a bear market. I have been through this before. But it does take some time to shift mentally and prepare. For this reason along with others listed above and in the video, I will be pausing paid subscriptions for a short time.
Understand. I am not going away. I will not leave you all hanging. I will continue my videos. And I will pick back up and restart paid services when I feel I have prepared adequately and make valuable contributions from a charting perspective. I will also keep the paid telegram channel up and running. That will not be stopped.
Those who are paid members. Here's how this will work. Your paid subscription will simply pause for the time I am re-calibrating and it will pick back up when I have un-paused. If you have 300 days remaining now, you will have 300 days remaining when I come back. If you have 30 days left, you will have 30 days remaining when I come back. Etc.
Anyhow, I hope you understand, that my main goals are to help people and to have fun while doing that. I want to be able to do this while maintaining my commitment to providing quality work to my current employer. I don’t know that I am meeting all of these objectives at the time and I want to ensure that these objectives all remain a priority. I will need some time to reevaluate and ensure that I can continue to meet all of these.
Any questions, please feel free to contact me. Tomorrow's video should come out as always.
See you then!