SotN #49- The State of the Charts, with Ledger Status
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 9 June 2021
⏱️ 96 minutes
🧾️ Download transcript
Summary
In this week's State of the Nation, we bring on UpOnly co-host Brian Krogsgard (AKA LedgerStatus) to teach us about the charts. This is the official Bankless TA episode 📈
State of the Nation is live-streamed on the Youtube Channel – Tuesdays at 11am PT.
This week's episode is airing two hours early -- 9am PT / 12pm ET
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State of the Nation #49: The State of the Charts
Guest: LedgerStatus
Bankless is not a trading or market-specific podcast by any means, but the chaos we have observed in the markets over the past several months warrants discussion. So we brought on Brian Krogsgard (AKA Ledger Status) to help us understand the price action in the markets from a variety of perspectives. Brian is a host on the Ledger Status and UpOnly podcasts, and co-founder of the FlipMetrics data platform.
Brian introduces the concept of investing and trading as a pyramid -- at the bottom of the pyramid lies fundamentals and an overall investing thesis. As one moves up the pyramid, the time frames become increasingly shorter, and at the top are the pure psychological and analytical-based trades. Having sound plans throughout this pyramid is what makes for strong investing. Fundamentals, narratives, and tactics form a holistic approach which dictates how you should execute rotations and denominate wealth.
Ledger screens by fundamentals, and enters by technicals, while keeping the tactical side of things as simple as possible to avoid "analysis paralysis." The technical top of the pyramid is influenced by market psychology, and is inherently chaotic and more difficult to grasp. With a broad approach to playing this money game, Brian went down the DeFi rabbit hole throughout the course of 'DeFi Summer' in 2020. The object of this game is a quest to get more ETH. Although there are countless ways to view a chart, these 'horoscopes' can easily become self-fulfilling prophecies when it comes to aggregate market psychology.
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Resources:
Ledger on Twitter:
https://twitter.com/ledgerstatus?s=20
Flip Metrics:
https://flipmetrics.com/
UpOnly:
https://uponly.tv/
Ledger Status Podcast:
https://ledgerstatus.com/
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Topics Covered:
0:00 Intro
7:12 Brian Krogsgard aka Ledger
10:53 The DeFi/Miami Rabbit Hole
15:35 Trading, Narratives, and Fundamentals
22:25 The Work of Savvy Investing
27:41 The Approach
36:30 Diving into the Charts
39:40 The BTC Death Cross
42:15 Ledger's Favorite Charts
45:23 Moving Averages
51:43 Where do I wanna buy?
55:26 Decoupling, Dragging, & PR
1:03:59 Visualizing 2017 and Psychology
1:08:00 The Not So Happy Scenario
1:11:00 The Happier Scenario (For ETH)
1:15:00 ETH / DeFi Ratio
1:20:28 DeFi's and Tech Growth Stocks
1:25:55 Flip Metrics
1:28:27 So... Up or Down?
1:35:15 Closing & Disclaimers
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://newsletter.banklesshq.com/p/bankless-disclosures
Transcript
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| 0:00.0 | Hey, Banclist Nation. Welcome to another state of the nation. David, how are you doing today? |
| 0:18.8 | Absolutely. Fantastic, Brian. Except the market is not feeling all that fantastic, even |
| 0:23.6 | though I am. And that is what we are going to talk about today. Today is our first ever charting |
| 0:30.8 | and technical analysis episode. Neither you or I are at all like TA people. But people have been |
| 0:39.5 | like asking for a lot of clarity as to like what the hell is going on in the markets. Is the |
| 0:44.0 | bull market over or is this just like, you know, a pause, a seventh ending stretch, hopefully not |
| 0:49.6 | something, maybe a third ending stretch. I don't really know. But we're going to get into that |
| 0:53.4 | in today's episode because we brought on ledger status from the ledger cast podcast and also the |
| 0:59.1 | up only podcast. And he's somebody that I've been getting close to in this last like 12 months. |
| 1:04.5 | He's the guy that I go to to just kind of like put the charts on my face and trying to kind of |
| 1:10.2 | get a feel for the market. And so I've always appreciated his content. And so we have two |
| 1:14.6 | podcasters coming together. Do you want to hear something funny, David? Tell me around. I have not even |
| 1:20.0 | looked at the price this morning. Like I haven't even looked at it. Oh, you don't know what's going |
| 1:23.9 | on then, huh? I don't know what's going on. What like what price is Bitcoin? What price is E? |
| 1:28.2 | Bitcoin's at like $33,000. ETH is at $2300, you know, and some change. I mean, I know nowhere near |
| 1:36.1 | where we were like two weeks ago. But like people don't like being down this low, right? Well, |
| 1:40.4 | this is just it. So David, David, I know we do look at the price more like more than once a day |
| 1:45.4 | certainly, but like neither of us are traders. That's why it's it's really cool to get ledger on |
| 1:50.0 | because I feel like I'm going to ask all the explain it like I'm five type of questions, right? |
| 1:54.9 | Like is this TA thing? Is it horoscopes? Is there something else to it? Explain it to us. |
| 2:01.1 | I've heard a lot about this Bitcoin death cross thing. I want to hear ledgers take on all of this. |
| 2:06.8 | So it's definitely going to be an interesting episode. I feel like I'm going to learn a lot |
... |
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