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The crypto market bottom is ‘almost in’ — Market Talks chats with trader Korean Jew Crypto

On this week’s episode of Market conversationsWe welcome Jake, also known as “Korean Jew Crypto” on Twitter and the founder of “The Trading Dojo,” a platform that provides quality coaching and education to help traders identify profitable trades on their own.

The wide-ranging interview covered KJ’s view on how to trade the Federal Open Market Committee and Consumer Price Index events, along with his views on how Federal Reserve policy affects crypto prices.

According to KJ:

“Regarding what Powell said, and the way the news cycle was, I was determined a few weeks ago that something had changed. I was quite bearish and expected a support break for BTC, ETH and everything else. We had the dip on Friday that swept everyone out of the tight range, but it was immediately bought back … Bullard from the Fed has some bullish things to say and we reclaimed the support and with good volume, as well as in shares, held. I told my friends and the dojo, something is different. It was supposed to break, but there were buyers there. The market just feels very different.”

When asked whether or not Dogecoin’s (DOGE) recent 100%+ pump is a one-off or a sign of a larger trend change, KJ said:

“I feel there is something bigger behind it, personally. When you compare structure, even thorough price rejected at some level, it actually starts to look quite bullish to me. I wouldn’t be surprised to see a reflation trade where price rises to $0.55, falls, and then rises again.

KJ suggested that Elon’s new leadership of Twitter “has people speculating that there will be some kind of DOGE integration involved. I think it’s actually a reasonable speculation.”

Is the market down?

Regarding a larger reversal in sentiment, investor appetite for risk and the crypto market bottoming out, KJ explained that DOGE’s recent bullish price action is:

“Shows that there is an element of greed that is there again. In the past the DOGE move would sell, somewhat instantly, not the numbers it did. We may have gotten a 20% move sold by the end of the day. Litecoin also shows greed in the market and risk-taking behavior and this risk, in my opinion, is not yet taken by “norms”. It’s more powerful players who are willing to do that.”

To hear more alpha from KJ, tune in to Market Talks here, and come back every Thursday at 12:00pm ET to hear interviews with some of the most influential and inspiring people from the crypto and blockchain industry.

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should do your own research when making a decision.

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