In the last episode of market talksCointelegraph welcomed Jake, known on Twitter as “Korean Jewish cipher” or “KJ”. is founder The Trading DojoA platform that provides guidance and coaching to help traders locate profitable trades.
During the interview, KJ shared some tips on how to take advantage of the US Federal Open Market Committee and CPI events, as well as his opinion on how Fed policy can influence cryptocurrency prices:
“Regarding what Powell said and how the news cycle broke, I was adamant a few weeks ago that something had changed. I was bearish and expecting a break in support for BTC, ETH, and everything else.
There was a dip below the range on Friday, but the asset was immediately bought back. […] The Fed’s Bullard made some bullish comments as we regained support and held at that level on decent volumes. The same thing happened with stocks.
“Something’s different,” I said to my friends and Dojo users. The price was supposed to crash, but the drop soon caught buyers. The market is very different.”
Regarding the recent price hike of Dogecoin (DOGE), KJ commented:
“I feel there is something bigger behind it. When you compare the structure, although the price has reached a certain level, it is starting to look very bullish to me. I wouldn’t be surprised to see a contraction trade, the price goes up to around $0.55, and then it goes down.” Then it rises again.”
in his opinion, Now that Elon Musk is the new owner of Twitter, Dogecoin can be integrated into the social network:
“People are speculating that there will be some kind of DOGE integration. I think that’s a perfectly reasonable speculation.”
Are we at the bottom of the market?
Regarding broader market sentiment and investor risk appetite, KJ said:
“[Il movimento rialzista di DOGE] It shows that there is once again a certain degree of greed in the market. In the past, upward moves in DOGE would have sold out almost instantly, and it would not have produced these numbers. It would have had 20% support, which would have sold out by the end of the day.
Litecoin is also showing an increase in market greed and increased risk appetite. And in my opinion, it is not ordinary users who are taking such risks at the moment: it is the big merchants who are making such deals.”