 Man, Jackson. That intro beats smooth. I like that. Welcome to Market Talks, everybody. Sorry, we're running a little bit late today. We had some a few technical difficulties, but they're all sorted. I think that you waiting will definitely be rewarded. It was worth the time. I'm Ray, head of markets at Point Telegraph. And in today's show, we're going to discuss the latest events that are shaping the markets. And we will also bring you insights from industry leaders and experienced traders. Today's guest is Jake, also known as Korean Jew Crypto on Twitter. What's good, KJ? What's happening, Ray? Thank you so much for having me on. It's been a... Yeah, you did good. You didn't fumble. Had some technical difficulties. Yeah, it was a little hectic. And people that watch my YouTube know that when it comes to setting up a stream and technology, that's not exactly my forte. I'm kind of a boomer, but we made it happen. Likewise. Yeah, I'm a boomer too. Even though we're on tech all day long, I just use it in kind of an instant gratification consumer sense. Don't actually read manuals or understand anything beyond like click, delete, pay. So it is what it is. Do you prefer to be called Jake? KJ? What do you prefer? I think KJ is pretty standard. That's what most people tend to call me. Gotcha. But it doesn't matter. All right. So for the audience, if nobody knows KJ, Jake is an independent market analyst and educator. He's got more than 113,000 followers on Twitter. Do you have a blue check or are you going to pay the $8 for it? No, I mean, well, $8 is a lot better than like 15K, which is what people were asking for. And I was like, you know what? I'm not paying that. So $8, I think that's doable. I didn't like how Elon came out with this group of peers that really seemed to be leaning in one direction. It didn't seem to be a diverse group, but Twitter's, I think it's in good hands. I'm excited to see how it looks. I do too. Yeah. Yeah. I feel like the platform is, like it's not ingenuitive. It definitely is not, like the user interface is not as dynamic as it could be. There's a lot of room for innovation. And I think that while he's a controversial person, right, and there's some things we can agree or disagree with, I think he's the dude to at least experiment with it and take it in a new direction. Because as is, it's boring, right? So make some changes. The worst that can happen is Twitter stays the same as it is now. And we all still use it anyway. So, you know, I'm good with it. It's the marketplace of ideas and interaction with people across the world that makes it great. Like the people are the product. You don't need, it doesn't need to be a sexy interface or anything like that. Obviously updates and improvements will go a long way. But really, it's more of like the freedom to speak your mind within reason, of course, not just, you know, saying anything you want. But it needs to be a little less restrictive. In my opinion, we need to do away with the bots, you know, the scamming and all that. And if you can do that, I mean, it's, it's, it'll be fine. If not, there will be something new. And in my hope, something decentralized that that emerges. But I think, I think Elon's going to write this ship when it comes to Twitter. Yeah, I agree. I agree. So KJ, you're also the CEO and founder of the Trading Dojo, a platform that provides quality coaching and education to help traders identify profitable trades on their own. So I like that. Teach a man to fish to eat forever. Yeah, I don't know what the inverse of that is. Keep feeding a bird food in its nest and I'll never leave and fly. Right. So that's right. Educate us today. We're going to talk about a range of topics. So let's kick off with your perspectives on, you know, post FOMC and we got a CPI report coming up. The Fed has increased rates by seven, you know, 0.75%. And yesterday's presentation of all that information. Did you hear any particular language from Chairman Powell that might lead you to believe that a change in market direction and sentiment could be on the cards and talk to me a little bit about your perspective as a trader on the whole CPI FOMC trade. So price tends to like correct leading into FOMC. And then if the delivery of interest rates are or the CPI print is within the consensus of expectation for, you know, market participants, then we get a little bit of a rally and then like inequities and also in crypto. And then before the day ends, we've retraced all those gains and we're back either at support or below support again. So you wait till the dust settles. So I've traded it. Yesterday I went out of my way. Well, at least I told my friends and the people that I'm trading with, like I'm just not going to mess with it because it just felt like a little too much like gambling as well as I'm preparing for a crypto fight in two weeks. I'm going to Dubai on Sunday. So like I didn't have the ability to sit there next to Squawkbox and be ready to act as soon as possible. So I'm like, you know what, I just want to see how this plays out, how the dust, what it looks like when the dust settles. But at the same time, in regards to like what Powell said and the way the news cycle has been, a few weeks ago, I was very adamant that something has changed and I was quite bearish. I was expecting a support break of Bitcoin and Ethereum and everything else. And I believe it was a Friday. We got the dip that swept everybody out of a tight range and it was immediately bought back. And at the same time, you saw Japan's federal bank kind of stepping in as well as the Fed, the Fed had bullied from the Fed, had some bullish things to say. And we reclaimed support and held on with nice volume as well as in stocks. And I said to my friends and the dojo, like something's different. Like that was supposed to break down, but there were buyers there, like a lot of them. And the market just feels very different. And in the upcoming days after, you're starting to see like across the board, the language coming out of all the big players in banking is starting to change a little bit. You saw Canada making some adjustments. I know China has some sort of thing where they're not supposed to sell a certain amount, but it's just like all of a sudden from that moment, as soon as that dip was gobbled, the whole news cycle and everything globally seems to have pivoted in a way. And not to say that we're just bullish now and going to be shooting out of here and making an all-time high kind of similar to like what we did in last October, November. That's not my expectation. However, I was definitely looking for a rally, which is now stalling at like giga resistance basically. So like foam seas coming, you're at major, major resistances. It's a time to be careful. But however, if we're able to push through these levels, like a really strong rally could be in the cards and you're starting to see a lot of signs of that as well. Like for instance, Doge, which I'm sure we'll be covering. We're talking about Elon. We got to talk about Doge. But there are plenty of signs to indicate that potentially the bottom is in. That's how I'm seeing it. I wouldn't rule out a retest of the lows, but I think the next three to four months is like, I'm like a permeable here. Let's put it that way. I'm buying every dip. That's how I see it. And to prepare for 2023 and 2024 and what comes then. But this is like maximum opportunity. So you did hear leading into FOMC like from the White House, apparently Biden was kind of saying Biden supports a pivot and Bullard said that. And then there were some other leaks about BlackRock and some other giant fund talking about, we are going to possibly start talking to our clients about the potential of the Fed shifting policy. But then Powell comes out yesterday and he's like, look, inflation target is 2% and it's sticking at that and we're not changing it. Rate hikes will most likely stay at 0.75 and there's a potential for them to get larger. I was thinking that we might get 0.5 in December. Because I think he said 1.25 for the rest of the year and October, there is no FOMC arbitrarily. It's kind of straight like the world is going down the tubes, but we scheduled a month off. So we're going to stick to that. I mean, that's kind of odd, but I think he said 1.25. So that would kind of price in 0.5 in December. And if he decides to go 0.75 in December, that's your catalyst to kind of retest the lows one last time. So we'll see how that plays out, or they could go 0.5. And there was some pivot language, but I feel like it was misinterpreted by the market prior to him speaking. And then during his comments during the presser, he clarified that by saying, we are looking at things in the moment and we recognize that there's a certain latency or lag between interest rate hikes and how they're impacting other metrics within the economy that show whether or not inflation is going down, whether or not consumer demand and payrolls are going down. And we are willing to have some flexibility within those timeframes, within those moments. But I didn't really hear anything like, we are thinking about a policy pivot away from raising rates or changing our 3% inflation target. You can't come out and say that now because they're not going to run away. The market crumbled as he said that. Yeah, yeah, yeah. So it was a nasty rejection. It was. Yeah, yeah, it was pretty much led by him. So I want to ask you, outside of how you trade it, what do you tell people within the dojo? Do you advise people to trade FOMC, CPI and all that? Or are you telling people, don't trade it, just trade the larger trend? What's your approach? I know what your personal style is. We founded the dojo in 2017 during that parabolic run. It was just absolute mania. And frankly, I don't think that at that point in time I was necessarily equipped to provide that service. Let's be real. Not to say that people didn't make money, but I didn't really know what I was doing at that point in time. And then over the next five years or so, things just blossomed and grew. But it's not something that I'm actively marketing because I'm very happy with the membership that we have. There's about a hundred people there. But the thing is the people that are there have been there for years and years and years and are very successful traders in their own right. So it's one of those things where it's a group of, for the most part, people that know what they're doing and are able to identify setups and bring alpha to each other. And they've made money, you know, clearly if they're sticking around for four or five years, it's because there is valuable insight. But some of that valuable insight comes from the members. So in regards to FOMC yesterday, like I announced, I'm not messing with this at all. I'm not going to trade it. But there were other people in there playing around. But, you know, at the end of the day, like that type of price action, you have to know what you're doing. Like you can get wiped out super quick if you're trading with leverage on moves like that. And the market gets extremely irrational, emotional. And you're playing against people that have access to the information a split second faster than you, more capital, they may know in advance what's going to be said or what's happening. It's just so many different things that you're up against. And it's like a regular kind of newer trader. If you're going to play that, like you have to play it as like a wider range, in my opinion. But for me, I wasn't messing with it. And, you know, I suggested that people probably stay away and let's see how this shakes out. It was just too much like gambling for me. Right, right, right. I like to gamble. But, you know, I want to have that advantage when I'm doing it. Yeah, exactly. All right, so talk to me a little bit about Bitcoin's market structure on the daily or weekly timeframe and then kind of contrast that against what's going on with Dogecoin. Okay, so Bitcoin, one of the things that I was very kind of adamant about, should I do the screen share now? Yeah, go for it. Go for it. Yeah, let me do that. Yeah, I think when you say screen share, it must trigger the guys in some support to do something magical for us. What the? I think you do it in Zoom. Yeah, no stress if it's not working. I got it. I got it. I think we got it here. Can you guys see? I should have Bitcoin one day. Yeah, all good. Okay, so one of the things that was very dominant two weeks ago was this comparison of this wave here in 2018 before the capitulation from 6K to 3K. A lot of people were comparing that with this, right? And I understand why, because you have this fake out bounce, and then the sharp retrace, and then low volume, and I mean low volatility range that then nukes. But the part that they were omitting is they were just holding onto comparing this to this, but they weren't including this part of it. And when you look and zoom out, you could see that this was actually more similar because of the velocity of this dump and as well as the price difference. You went from the retest 47.5 to under 20K, and that's really kind of this move, and it's indicated with the volume as well. So for me, I was like, no, I'm not really buying that. And what we're seeing now is when I was talking about how the market changed, this was the candle that did it for me. Because if this was going to follow this kind of fractal idea, this would have dumped here, and it really didn't. So right now, you're making a bull flag at resistance. When you're looking at SPX, this is also coming into resistance here as well. The weekly looks kind of rough. Everything is basically at levels that if we are to continue, it's going to provide a very good move. But in a bear market, when it gets to that point where it's like, if it pumps now, it's going to go crazy, that's usually like your cue to kind of take some risk off and let it prove itself. Because if it goes up like another 10% here, that's going to imply like additional upside significantly. So I'd rather wait and let it do that and miss that extra 10% and then be able to structure a trade that's a little bit safer than playing at resistance. So as far as doge is concerned, it also kind of invalidates that whole concept of this being the 6k, going to 3k. If that were the case, you wouldn't have had this. And look at that volume. This is different. Well, that's just by a bit, but I'm sure the volume is significant across the board. Yeah, aggregate is high. What do you think is behind that? Is it just Binance, Musk, Quitter, Hopium? Binance has launched like some Bluebird index, which looks like there's going to be some sort of like ICOs can happen on Twitter possibly. And we know that CZ put in 500 million and funding for Musk to take over Twitter, so on and so forth. So in your opinion as the dogecoin move, because SHIB hasn't followed really, is the dogecoin move just a short term event? It was oversold, open interest is high now, people are piling into perpetuals, retail's going long on it, Musk might be filling up his bags or whatever. Do you think retail's going long on it? There's been some speculation about that. I feel like there's something bigger behind it, personally. And when you're comparing structure, this, you have, so if you want to compare for the people that were doing the 6k fractal, this is kind of your area, you get the dump, you have your bear market, and then it reclaims. We're not there yet. It rejected at a very key area, but this is actually, even though somewhat being rejected here, this is starting to look quite bullish actually in my opinion. And I wouldn't be surprised to see like a reflation trade where you come up here somewhere maybe $0.55 and then come back down and then mark up again. But I mean, at the end of the day, like Elon running Twitter, you have people speculating that there's going to be some sort of doge integration involved. And I think it's a reasonable speculation actually. And when you look at the cycle at how bottomed out this was, the people that were loading in this area were wise. I wasn't, but they saw it. I wasn't expecting the catalyst. I wasn't thinking in regards to Elon and Twitter, but you see like A16 I think is involved in this as well. This isn't like regular people that are buying on Robinhood pumping this. In my opinion, I feel like this is more of like an institutional push. And because like when you think about it this way, like people in my regular life, at least the people that were calling and texting me in 17 and 2021 and, you know, those people that always hit you up at the top looking to buy, like they're not buying doge right now, at least from what I can tell. Yeah, they're not calling. I'm not getting nobody calling me. Nobody wants to talk about crypto. There's limited interest in my circles of people who are not like crypto native. So yeah, perhaps it's a rotational play. Perhaps it's an institutionally led play and we'll see stronger fundamentals and continuation in the price action. But I kind of want to dial back because we know Bitcoin's still in a downtrend. It's trying to carve out a bottom on a macro level equities and crypto are still bearish, even perhaps the worst of the sell-off have left. So if you recall back like in 2016, 2017, also in 2019 or 2020, it was like Litecoin that started to outperform the whole market. Let's go ahead and say Litecoin, yes. Well, Litecoin pumps. Litecoin is actually kind of bullish. Yeah. And it's coming up on a halving. But then Dogecoin has done that in the past also, like these dinosaur tokens and altcoins tend to lift off before Bitcoin does. And then at some point, Bitcoin dominance flips and inflows are more saturated in Bitcoin. And then we get like a more confirmed rally that propels the whole market. So do you think this Dogecoin thing is it's an isolated event as you just discussed, you know, in the last few minutes, or is it signs of, okay, we're starting to get into this consolidation phase and this pre-having push and Dogecoin is leading. Previously, it was ETH, right? This time it's Doge. In the last bull market, it was Litecoin. Could this be a sign that we're starting to kind of round the entire corner market-wise? Yes. Quite simply, yes. Simple answer, yes. I like that. I think it's showing that there's greed again. There's a greed element that's there that in the past, I think that the Doge move would have got sold off somewhat immediately, not did the numbers that it did. You might have got a 20% move that was sold off within a day. Litecoin as well also shows greed in the market, risk taking behavior. And the risk, in my opinion, is not being taken by regular quote-unquote normies yet. This is more powerful players that are willing to do so. And one of the things that I pay a lot of attention to, and I actually did a YouTube video on it recently, is the Jewish Schmittus cycle, which I'm not sure if the viewers know or have heard of this thing, but this is something that went back and looked at historical data. It's in a nutshell a seven-year cycle that Jewish people follow. It's in the Torah where on the seventh year, it's kind of think of like days of the week. You have seven days in a week. On the Sunday, you take your rest. You don't do anything the Sabbath. Well, for Jewish people, it would be Saturday. But they also do that by years. And in the seventh year, that's called the Schmitta year, you're not supposed to plant crops. You're not supposed to harvest. You're not supposed to really do much of anything. And if you look historically, during Schmitta years, you've had 2008 subprime. You've had 2001.com bubble crash. You had a crash in 2015 associated with that as well. You had 2022. The Schmitta year just ended in October. But you also, I mean, even Bloody Monday in the 80s, that was the Schmitta year as well. So it's something that I'm paying attention to. And I looked back and I charted and I saw how price behaves around these times. And typically the year after Schmitta is over, it's choppy. It's not like you just go straight up. That year is a year to buy the dip. For the most part. And then the next five to six years, at least traditional markets go up, you know, straight up pretty much with dips. But like in general, like if you're buying after the Schmitta year and the first year, if you're buying dips in that year, you're in good shape. And, you know, the charts are providing confluence to that idea. And I think I'm going to stick with it. Yeah, yeah. Hey, whatever your process is that works, that's good. I'm familiar with a similar story in the Bible where for crop rotation, you let the land lay fallow. I think in that seventh year, just, but you know, I don't have it like at that. It's at the tip of my tongue, but it's not something that I've memorized, but there's a similar kind of story or parable that's described in the Bible. So let's see how that plays out. I want to continue to touch base with you on that and see what happens. A turnaround would be nice. So aside from Bitcoin, East Doge, what are some other coins that you've got your eyes on? Soul, actually. So I really, I made a video like on soul at $28 and 30 cents. And like later in the day, it had crossed it hit like $32 in the same day, because this mainly I was looking at it structurally. And it was doing a move that I see and look for quite often it was a quite a bullish setup. I saw that Ethereum Bitcoin at that point was really bullish looking as well. So in my mind, I was like, yeah, I think soul could take off here, but mainly due to sentiment is why I was looking there. People were very upset with Sam and what he said in regards to DeFi, kind of like the Eric Vorhees interview. And Sam's being framed as SPF from FTX is being framed as like, it was kind of villain. And my whole, and that was that, you know what, that was the day BitBoy, you know, came after Sam and everybody was siding with BitBoy. And I said, you know, let me look at this chart, because anytime there's some, like I, I, I'm harvest a lot of information from Twitter. And I like to see what people are thinking, what's exciting, what's topical, what every what the herd is talking about. And it was very obvious that day was BitBoy and Sam. So I said, you know what, let me look at soul chart. I, at that point in time, I was one of the people that was looking to buy soul at $15 after capitulates. And I'm like, you know what, I'm not going to look at it until it goes down there. But then I decided to look at it. And I was like, wow, this is a very interesting setup. The sentiment is right. And we played it. And, you know, like looking at soul now, you're starting to see a lot of foot in regards to their solvency issues. A lot of their capital is tied up in FTT, which is supposedly a liquid, I mean, based off of how much of it they hold, if they wanted to exit, I don't think it was possible. But there's a lot of fear and, and, you know, discussion on that. But me personally, I don't think FTX is going anywhere. I don't think Sam is going anywhere. And I kind of like soul here still. Okay, so I want to follow up on that. Aside from technicals, aside from what the chart's showing you, what's the fundamental value prop for soul? Are you not concerned with the validator issues with the constant network outages? There's been like eight or nine in the last year. It feels like it's always off, right? Yeah. Yeah. And I mean, there are issues of duplicate DeFi protocols to the tune of like eight billion in TVL on soul, you know, like my concern with soul is, is it functional? Is it reliable? Is it hack proof? These are things that concern me beyond the chart. If I look at FTM, Phantom, Avalanche, Avax or Solana, in a way, they all kind of have a similar chart, right? I'm concerned with volumes on the weekly and daily timeframe. When we go look at on-chain data, I'm concerned with like DAP use and daily active users on those networks. And then with soul, I'm concerned about centralization. But then at the same time, the network always going down, and that's liquidating people and decentralized exchanges and whatnot. So what's the value prop you see? Why should we be bullish on this asset outside of just pure technicals? So those are very valid concerns. And it's, this is why they call it speculation. You know, we're speculating on Sam being able to figure out how to fix these issues. And being that he's not a dev, it's not like you're in the hands of Vitalik or Andre, who could fix it themselves. You have to trust in his ability to delegate and hire the right people to do for the job. And, you know, everything you just mentioned is extremely valid criticism. For me, I'm looking at more of being a profit maximalist as opposed to a tech maximalist soul itself. I'm not certain on, you know, like I'm not a dev. So I couldn't really tell you how sound it is. All I do know is that it has been down plenty. There have been a lot of issues. But I'm the type of person where in crypto, especially, I like to bet on the, on the leadership and the person behind the project. And Sam, you know, say what you want about him, I do believe in his ability to make this thing successful. They do have the Solana phone coming out out of the three T ones that you mentioned, Avalanche, Phantom. Soul has the most thriving NFT ecosystem. But, you know, there's new stuff coming out there now with the stoppage of royalties. So I'm not so certain if that's going to continue to grow. But, you know, at the end of the day, Soul phones coming out, Sam's behind the project. And I do believe it will have a nice second run when the market resumes its bullishness, kind of similar to like, you look at like something like Cardano, like, I don't even know what they've done. But it doesn't mean that it can't go up 100x. You know, like, I'm just, I'm in it for the money at the end of the day. And I like the chances. That's it. I'm with you on that, you know, as a trader, I feel like we're always, as a multi-year trader, you're always like on this fence of, should I just trade the technicals? Because the technicals are reliable. These fractals, these market cycles, these trends, things are oversold or they're overbought. You know, there's a certain set of things that you can tools that you can use that are just pure technical analysis that ignore all other sort of network fundamentals. And they work most times. But then on the flip side, what we learned from DeFi is that, you know, looking at utility and fundamentals and network use and staking, liquid staking, those all have value too. So in technical analysis, we can say we're going to take profits at this level. You exit there, which is great. You got some profit. And then like Matic went on to $3, even though I exited like a 100x gain at whatever, 50 cents or something. And I bought it one set. And I'm still taking myself in the leg with that or link, banned, you know, there's so many, but it's then I did, I did the Phantom ICO and I had, I sold it in 2018, my full position. I think I put like 60 F into it in 2018. And the position that I sold for maybe $50,000 or something like that would have been worth 20 million. Like that was one of the ones that I was really kicking myself about. But this is this is crypto. And I want to say that because I like just because I like sold doesn't mean there's not going to be 100 coins that outperform it. Something will definitely outperform it. And if you're good at doing this fundamental research, you have a leg up on the competition as far as identifying these coins. And thankfully, I have friends that are really good at that too. So they help point me in the right direction as well. Exactly. Yeah. I think like as far as a blue chip and a big capsule is a pretty safe bet. Right, right. When you focus too much on fundamentals and do all the staking and all that, you know, those guys got wrecked anyway. So it's always like a 50-50 type thing. What are you going to do? Trade your fundamentals or chase after like network expansion and growth and all that? I think you do both. You got to do both. Make sure both. Yeah. Yeah. All right. I got some quick fire questions for you. What did you do for Halloween? My best friend had a party. I dressed, it was like a East Coast, West Coast, 90s rap type of party. And I was, you know, like one of these, I kind of looked like a beastie boy, I guess, with this costume. And my friend was LL Cool J. And my wife, my wife was one of the dead presidents bandits. So yeah, we had a good time. Nice. Yeah. I saw the picture. I thought you guys were the beat nuts or something. Yeah. Iron Man Hulk or Black Panther? Iron Man. Who are you rolling with? Iron Man. He is cool, man. Or at least the Robert Downey Jr. version is very cool to me. I always agree. I like all three of them. Yeah. Yeah. He's just, you know, he's doing it with his smarts. He's a regular guy. He's not regular, but he doesn't have super powers. Exactly. He's able to be a superhero. You know, I like that. Did you see Black Adam yet? I did. Black Adam was awesome. I really liked it. I didn't know what to expect, but that was a pretty badass movie. I enjoyed it a lot actually. It was one of the better. I'm starting to gravitate towards DC more than Marvel personally. Marvel's kind of like a little played out. Exactly. Wakanda forever looks good. Sorry. Wakanda forever looks good. Like I'm excited to see that one. I think when Marvel does the whole like Marvel DC, Marvel X-Men, whatever, like when they start doing this metaverse rollover, then Marvel content will get more exciting again, but I'm with you. I'm starting to gravitate more towards DC. It got too, it got too disnified. It's like too much Disney, you know, like it's a little DC feels a little darker. It's like more adult type content, as opposed to Marvel's like a little playing around. I guess now that feel to me, you know, I like the energy. If you haven't seen the Sandman on Netflix, I recommend it. It was killer. I couldn't get through the first episode. I don't know. You couldn't man. It gets good around. It wasn't my thing. It wasn't my thing. How'd you feel about it? Maybe I'll give it another shot. It's like Daredevil and Luke Gage and like Sandman were all kind of like in the same kind of emotion. Daredevil was pretty cool. I like Daredevil. But Black Adam was awesome. Yeah. I guess it's interesting. I'm trying to bug her off really on Friday and go watch it. Oh yeah. Yeah. It got really bad reviews on Rotten Tomatoes, but the audience score was really high, which is kind of like the tell that this is movie is probably awesome. And, you know, the rock did a good job. It was really, really good. I like it. All right. Yeah. I'm going to go see it. It's what matters is fans' opinions, not Egbert and whatever the other guy's name is. So back to Crypto. I know the audience is like, we're not here for movie reviews. Ethereum, Solana or Adam, which are you most bullish on going into 2023? I think Adam's pretty bullish here, honestly. Like Adam, I'm hearing a lot of stuff. Adam might be the best performer out of the three. As far as like which one gives you the biggest gain, it might be Adam. It really might be. And it's strange because like Adam, well, it's Adam 2.0, right? Yeah. Yeah. The people that I trust that like know their stuff like over like the past five years, like these guys are always, you know, kind of like ahead of the curve. Like there's a good amount of them saying like Adam's like legit. So that's probably the way I would lean. And the funny thing is like, when you look at that chart and like how it's behaved, it's like, it was almost like a cursed coin for a long time. It's like people are really upset with Adam. There's a lot of salt on Adam. It's like, when you try to short it, it doesn't go down. When everybody is thinking it's going to break out, it dumps. And interesting enough, in like 2021, when Adam pumped, it was signaling the end of the cycle. So like Adam would pump and then the whole market crashed. Like as soon as Adam eject, that happens. So there's a good amount of salt on this thing. So I kind of, I kind of like it's potential. I don't think it's Adam's fault whenever I think Adam and Sushi have the same market maker. It's that guy's fault. That's his fault. Yeah. Yeah. Yeah. And the market always turned. It's a late comer. I think you're right about that. They do have the same market maker, but whenever the market's finally starting to break out, Adam runs and then everything falls apart. Like I feel like it's never got a chance to run for a good duration like other coins during the bull market. So hopefully this is it's time to shine. It's got some deflationary tokenomics coming through. There should be a network effect of all Adam interrelated tokens and the ecosystem also rising. They're launching liquid staking. They have some stable. What do you think? Have you heard of Kanto? Kanto? No, I haven't. Oh, okay. So that's like another ecosystem. I believe it's on Adam. C-A-N-T-O. There's like some coins trading over there too. You have to bridge, but I'm hearing some stuff about that one too. Yeah, I'll check it out because there's a number of... I'm curious to know what you think about it. All right. Yeah, yeah, yeah. I'll check it out. I like it. I think it's going on. It's super bullish. Yeah. I think once we get liquid staking enacted and then in week 20 the tokenomics become more deflationary, I think hopefully then we'll see some pressure on price. In your opinion, what will it take for DeFi to go on a bull run again? DeFi to go on a bull run again. I don't know. I don't know. Those bull flags just need to break out and then you'll know what's happening. It'll just start going. Like as far as like a technical reason, I couldn't tell you. I don't know. Yeah. Now, fair answer. Nobody knows right now. So as we wrap up, I want to check one other thing with you kind of related more to Bitcoin and Ethereum. What's your thoughts on ETH? If you look at Ethereum and its BTC pair on the weekly and the daily, it looks like there's a big inverse head and shoulders pattern. How do you feel about that? ETH versus BTC. So this wave has been going on since May of 2021. And previous to this one, you had like a three-year consolidation range that broke out to the upside. This one stopped people out in June and then reclaimed. And now we're kind of in the middle of this range. And typically with waves like this, you just want to play it as a range until it violates. And if people got stopped out on the bottom, like if you played it that way, you would have got screwed in June. But looking at what it's doing on the weekly three-day, at first Bitcoin actually still looks bullish to me. There is some potential for this guy to break out. And when you look at like Bitcoin dominance, I use an adjusted one that includes stable basket because I find that BTC.D is no longer a viable chart to even bother looking at because it doesn't account for when people are selling their crypto to go to Tether. And now in 2022, this is something that's very common on even like institutional levels, whereas in 2018 and 19, there was a ton of Tether food. There weren't as many stables that you can go to. And people were simply just cashing out of the market. You weren't sure if crypto was even going to survive that. But now, when there's dumps and people are risking off, there's way more people going into stables. So if you're not including that in the ratio, then your ratio would be flawed. But when I look at the one that is inclusive of stables, this is what I mean by we're at giga-resistance because even like BTC dominance is that it's about to be at support, but a support that if broken would lead to massive upside on alts. So I think like, yeah, you could still be a bit cautious. But like you're seeing, for instance, Phantom pumps 20%, 30% today from Andre's news. LTC is pumping. There's a chance that this Bitcoin dominance thing breaks down. And if you see this below like 50, I think F is going to go crazy and potentially breaks that wave versus Bitcoin. Also, you have F 2.0. If you keep up to date with Arthur's blogs, I mean, he's not shy about saying like how much the supply of F was being sold daily has been diminished since this change. So, you know, an actual flipping is possible. It is possible. I'm more bullish on F than I am on Bitcoin at these prices, to be honest. I am too. Based off fundamental analysis, I am also just in terms of like upside from a swing position, just trading that momentum. But of course, like Bitcoin's a big dog and everyone's going to roll with Bitcoin. And of course, it has the most structure and support built up around it. But I do realize that what moves Ethereum price is much easier to pinpoint and track than what moves Bitcoin price, right? So there's just more like fundamental reasons such as deflation. And if network like transactions and network use take up, which eventually they will eventually NFTs will come back, right? Eventually defy will come back. There's just a number of kind of like historicals with metrics that you can look at and measure in real time to kind of be like, okay, I can be bullish on ETH. Yeah, I think structurally, yeah, sorry. I think structurally you're seeing ETH come up on like it was rejected once around 1650. The 200 daily moving average, a simple moving average is still sitting right there. It's around like 1660. And looking at this structure, you have like kind of like this downtrend line from the peak of the relief, the first relief rally in August, and then the rejection in September. You're above this trend line. You're making another flag above the trend line. And if we're to break through this 200 moving average, which is around 1660, like I think you're going to see ETH in like the 2000s, maybe even 3000. Like it could happen like this year. So that's what I'm looking for. Like if the Bitcoin dominance thing breaks down, if ETH gets above 1660-ish, I think you're going to see it around like 2500 possibly. And like it'll happen. Yeah, I would like that. I would like that. I would like it too. That would be nice. Yeah, that would send shock waves throughout the market in terms of like market structure change. It would be massive FOMO. Like what people don't realize is you have like the news is beating you over the head with recession and the government is this. And like the reality is we can bottom as soon as the recession actually is confirmed and started and assets can start going up and regular people aren't even looking at it nor buying. And then they start to look at it like we're in a recession. Why is this going up? And you know, it just, it doesn't need to make sense. It just like I think we're, I think we're close. I think we're close. And I think starting like Q1, Q2 of 2023, we're going to start to put in some momentum. Like this could truly get bullish like next summer. That would be good. Okay, one more Bitcoin related question and I'll let you say whatever you want to say to the audience before we bounce. So this week traders started talking about the MACD histogram changing on Bitcoin's daily or weekly timeframe. And also some traders have pinpointed a bullish divergence on the weekly RSI and MACD also. Do you agree with that? Do you disagree? Do you have any thoughts on is that a sign of like momentum shifting and inflows coming back to Bitcoin and the bottom being confirmed? I wouldn't say the bottom is confirmed. As far as MACD and RSI, that's not really my bread and butter indicators that I use. One of my partners at the Dojo, Stillman, is a big guy on that. And he was, he was mentioning that a lot of bear dibs actually came in a couple days ago at resistance, which is logical. So we were very cautious in those areas. But as far as my take on what that means, is that a bottom confirmation? I'm not really the person to answer it. I don't, I don't know because I don't, I don't use that too much too often. What's your preferred indicator? Me? I like, I mean, I like market structure, I trade price action, the sentiment trader, I use MAS, like basic MAS. And I like to pay attention to volume, VP, VR. Like RSI doesn't really do too much for me. You know, it's usually- What's your favorite bet on moving averages? Moving averages. I like to, I like to look at low timeframe setups at key levels on multiple. So like for instance, from like, when you trade like the one minute chart, like for hours and hours and hours and years, you start to see different patterns, right? And there are some patterns that, you know, become more reliable than others. And then when you see them playing out, you know that there is two different paths that price can take. So it's like, if it does this, then I know then it's likely that this will happen. Or if it does this, then this is going to happen. So when you start to do that, like over and over and over on the low timeframe, you start to see those same patterns kind of play out on the higher timeframe. And that gives you like a nice sense for where your buyer should be. And as far as finding your entry, then you could zoom in to like lower timeframes to really kind of pinpoint that and get in there. So like for instance, with Soul, what I saw on Soul was basically what I was looking for was this rally. We were bullish in July going into this rally on basically everything and then got bearish when that started stalling. And we were expecting these lows to be tested again. And when that support holds, that's a structure that I play. And it's quite easy to structure your risk. And then I'm looking at what MAs make sense in relationship to how high this should be going. So you could see that, you know, you have this is the 99 day moving average, very simple. A lot of people use the 100 gives you a very similar level. It's clearly resistant. So there at that point in time, you would be looking to take risk off. You know, I try to keep things as simple as possible, to be honest. And then I use, at the same time, like sentiment cues, for instance, like the soul. All right, BitBoy is the number one person in crypto for, you know, telling Sam what's up. All right, let me look at Soul. Sometimes it's just that simple. Simplicity and consistency. That's it. That's it. I wouldn't I wouldn't come on Twitter and make a video saying, Hey, I think right now, like literally right now is the time to buy this unless I had like a very high level of conviction. And within two hours, the price moon 10%. So like it's right. The proof is in the pudding. It's not the first time I've done that. The last time I did coin Telegraph was in July, where I was telling people, Hey, we're going to get a nice bear market rally here. Like I think it makes sense. Stay involved in crypto, get some money in. But if you don't have money right now, don't worry, because this is going to come back down here anyway. You know, like I've told them exactly what was going to happen. We're going to go up, but we're coming back to these levels. It's going to take months. So my advice to you is get involved in crypto. If you have some risk to take, take it now, but save it. You know, like say, don't continue to take risk, but wait for these levels to be hit again. And that's because I trade the structures and I have a sense for what's going to happen. Now, F and Bitcoin is a 20 something and F was like 22. I think if that continued, then it went up to like 3000, 4000 and something different want to happen, but it didn't. So, you know, here we are. Now, like we need to hold the lows that were put in a couple of weeks ago. And, you know, we're either going to go, Ethel either go to like 3K and then retrace back to this level, or we'll go back to those levels and you might see F at 1000. And that could happen in like January, February, something like that. And then you buy that. And, you know, that's, that's how I'm planning it out, like before it happens. Right, right. So what happens, I'm not scared about crypto fight. You seem pretty hype about it. So what's the fight? Yeah, what are they? What's, what's that all about? All right. So the first, the first one happened last year in October. It was, I mean, in my opinion, I think it was like the coolest event that I've seen in the past since I've been in crypto, as far as like a crypto centric event where you had, you had loom dart fighting rookie in a box. And this is a boxing match and Luke Martin fought Barney, Barney the boy. There were a couple others. I can't remember the names of everybody in the event, but it was a really dope event in Dubai. And they're running it back this year. So I'm fighting this guy named Barney, who he's coming back. He won last year. And I'm fighting Barney. This is on the 12th. And it'll be live streamed for free. The links are out there, but I'm sure we'll, we'll get those out there again. But you know, some good fights, Ponzi traders fighting trading Lord, you have ice bags, fighting Eric BLE, crutches, just fighting a guy named Joey. There's a bunch of, you know, crypto personalities, a little CT are going to get into a boxy rig and fight for real. So yeah, for a purse of Bitcoin, right? Believe me, we're not making anything. I mean, I was going to say, yeah, this is, this is, you know, we're doing it for the culture. Let's put it that way. You know, nobody's getting rich off this. It's more of like, like I just want the people to understand like it's, it's a real commitment that we have to put in to train and we're going to fly ourselves to Dubai and do all this stuff and doctors appointments and all this. Like it's been a real hassle. And then we're going to have to get in a ring and fight. And we're doing this for the culture. So, you know, I'd like to say I'm a fortune, but I'm not, I'm not, I'm not making anything. Well, it looks like you got jacked been lifting. I actually stopped lifting. I just been boxing, just boxing. So I lost, I lost about 20 pounds. I mean, I'm in pretty good shape right now. Yeah, absolutely. Yeah. All right. May the best man win. So what do you want to tell the world before we, we hop off here? We want to tell the world. Hmm. So I want to tell the world, tune into the boxing. It's going to be fun. But I really do believe that once again, you're at a, you're at a place like be it NFTs, crypto, anything blockchain three, which is kind of cringey to say, but like don't become disengaged over the next six months. I think, I think the price action is going to be difficult to trade. Honestly, I think it's going to be difficult. It's going to be brutal. But in general, like people right now, like if I said hodl, it's like a bad word. Right. And that's usually the time that you want to do that. And I think the people that buy the dip and hodl over the next six months, like two, three years from now could be even sooner. Either you're going to be pretty happy that you did. It's like really how I see it. The more involved you become in the communities, the more you do your own research, the more people that you network with, that's what opens up the opportunities to be early on potentially extremely life changing investments within the crypto space, as well as just like free opportunities, opportunities to get a job in Web three. Like all these things are related to how much effort and time you spend and don't be shy, interact with people, join telegram groups, join discords, make friends. And you never know like how far you can go in the space. And I think right now is the perfect time to kind of stake your claim. It's not over. It's not going anywhere. And people try to make you think that it is. And that's typically the time where you need to be the most, invest the most time that you can. And I think it's important that you start doing that now if you haven't already. That is Sage advice. Well, KJ, man, I appreciate you coming on. Good luck with the fight. Thanks for sharing all your expertise with us today. And I look forward to connecting with you in the future. Thanks for having me. Right. It was a lot of fun. Appreciate it. All right. Shalom. Shalom. Take. Peace.