Ethereum and Chainlink Surge #97

Market Meditations | February 12, 2021

? So many coins to trade, so little time.

Dear Meditators

There are so many coins to trade and projects to support in this space. At times, it can be hard to know what to focus on.

That is why in today’s exclusive letter, we share the top 3 coins we are trading.

Read, enjoy and share with your network. Let’s all grow richer together.

We are extremely grateful for our partner ? Phemex. This collaboration makes our free content production possible ? 

As well as receiving free bitcoin and discounts for signing up, Phemex have recently launched Crypto Asset Management ? Their savings accounts allow you to earn crypto passive income and as Warren Buffet famously said, ‘you want to find ways to make money while you sleep’.

  • Jack Dorsey and Jay-Z to Set Up 500 BTC Bitcoin Trust ?
    Twitter CEO Jack Dorsey has announced the creation of a blind Bitcoin (BTC) development trust worth 500 BTC ($23.7 million), along with rapper Jay-Z, for teams working on the project in India and Africa. Dorsey revealed the creation of the trust on Feb. 12 while sending out a call for three board members to oversee the blind trust initially. Dubbed the ₿Trust, the application form for board members reveals the mission statement, “Make Bitcoin the internet’s currency.Read more.

  • Swarm Raises $6 million in a Private Token Sale ?
    Swarm Association, the team behind the development of an Ethereum-based decentralized storage network, has raised $6 million in a private token sale. With fresh capital at hand, Swarm looks to launch its mainnet in Q2 of this year that has been under development for the last four years. Swarm’s network is expected to serve as the serverless internet’s operating system that hosts and runs decentralized applications. Near the mainnet release, Swarm also plans to hold a public token sale, details of which will be shared when it is confirmed, said the association. Read more.

  • JPMorgan May Offer Bitcoin Trading ?
    JPMorgan co-president and COO Daniel Pinto has said that the banking giant will support bitcoin trading if there is client demand for it.”If over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved,” Pinto told CNBC in an interview published Friday. “The demand isn’t there yet, but I’m sure it will be at some point.” Read more.

  • DeFi Aggregator 1inch Stages New ‘Vampire Airdrop’ to Uniswap Users ?
    The protocol, a platform that aggregates decentralized exchanges and provides its own automated market maker, is airdropping a new stash of its 1INCH tokens. The airdrop follows the initial generation of the new tokens on Christmas, which were distributed to past users of the aggregator. A common point of contention for the initial airdrop was the exclusion of Mooniswap users and liquidity providers, as the project’s AMM platform was superseded by an integrated 1inch Liquidity Protocol. Read more.

  • Crypto Payments Provider BitPay Adds Apple Pay Support ✅
    BitPay’s U.S. cardholders can now add their prepaid Mastercard to their Apple Pay wallets. Apple Pay functionality will allow cardholders to use their mobile devices to make purchases in store and online using the crypto held in their BitPay wallet. BitPay supports payment in bitcoin, bitcoin cash, ethereum and four USD-pegged stablecoins. The announcement by BitPay states that support for Google Pay and Samsung Pay will be added later this quarter. Read more

Chainlink and Ethereum Surge


One Day

$50,000 – Resistance / Psychological Level

$44,000 – Structural Level / Support

$40,000 – Bias Invalidation

Expecting continuation straight past $50,000. Key level for my bias is $44,000, as long as we’re above $40,000 I will favour longs.

? If / When bitcoin breaks $50,000 level, I would be ready for the altcoin market to take a hit.

Trading has a range of risks associated with it. How sure are you that you know what these are? If you aren’t 100%, check out our ? Risk Management Guide ?


One Day

$2000 – First Take Profit

$1700- Structural Level / Support

$1500 – Structural Level / Support / Psychological Level

? I don’t plan on selling until we get to $2000.

I stand by our previous target of $2000. A breakout play with a solid close above $1800 is on my radar.

Interested in learning more about trading with leverage? We have prepared a ? Leveraged Trading Guide ? for you.


One Week

$38 – High Time Frame target

$22- Structural Level / Support

$20 – Danger Zone

?This week we zoom out on the chainlink chart. After 3 weeks of consolidation, which in this market feels like an eternity, we have our first breakout.

Assuming bitcoin doesn’t break $50,000 and stall altcoins, I have a medium term target of $38 on chainlink.

If you are making profit trading cryptocurrencies, make sure to protect your capital, check out our ? Essential Crypto Security Guide ?

Trading 101: How Much Money Do I Need to Start Trading Full Time?


Key takeaways:

1) Make sure you fully understand what trading is. Trading is not what you see on social media: it is not easy money ?

2) Don’t be tricked into thinking you can be profitable due to bull market conditions ? It is easy to make money when the whole market is moving up but just as easy to lose this money when the market starts to move down.

3) Try part-time trading first. This will show you the reality of trading whilst allowing you to develop the relevant skills.

4) Develop a trading system. This can seem intimidating, however, long-term profitability is impossible without one. There are plenty of online resources available including our ? Free Technical Analysis Guide ?

5) The amount of money needed to start trading full time is different for every individual ? It is essential to have at least 6 months of expenses saved up.

6) Get data to test whether your trading system is profitable. You should have at least 12 months of data validating your system and ideally should cover a variety of market conditions. Looking for a way to monitor your trading system? Check out our guide to creating a ? Trading Journal ?

7) Do not rely purely on data gathered from paper trading. Trading with real money has vastly different psychological impacts and therefore it is essential to have trading experience with real life consequences. For more on these psychological impacts, check out our ? Trading Psychology ? letter.

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Disclaimer: The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision.