As you know I can trade Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT) and Cardano (ADA) through my stockbroker. I don’t buy the real ones but only the certificates. DOT and ADA are new ones. They removed Litecoin.
Many Cryptocurrencies have gone up a lot the last few weeks. The NFT craze is going bananas. Mainly ETH is used to create and buy NFTs. Cryptocurrencies are also being led by the rise in price of Solana and ADA. Both are ETH competitors and have broken out to new All-Time-Highs. ADA did today. It’s gone up a crazy 16000% or 160x since the bottom in March 2020.
I’ll go through all of my cryptos. I mainly hold ETH and DOT. I’ve just sold some ADA since it reached one of my targets.
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It seems like BTC is not done and the price is acting strong IMO. 42.5k should hold. Although intraweek and intraday dips can occur. During previous bull run flash crashes did happen. Buying opportunity?
I have around 10% position with a good entry. I’ll reevaluate it and all other cryptos if price closes below 42.5k. I might just sell everything to protect profits.
The last 2 charts are old ones I updated. They are still in play. It seems like a retest and good buying opportunity. My guess is that the Market cap ratio should reach around 0.72 like last time. I’ll probably start selling if it breaks down or reaches 0.7.
I did buy some more today up to around 25% of my portfolio. High risk.
I did increase it bit since my last portfolio update. Before that I stopped out twice I think on the way down. It has gone up to 25% of my portfolio. Higher risk trade. I’m in profits and have a pretty good average entry price. I’m looking at a retest of previous highs at 46 USD and if that level holds, fib extensions at 58 and 88 USD. I’m moving up my stops to around 21 USD if not before. Or if BTC price action is weak. There are som planned events next month I think. Parachain auctions?
I bought at 1.5 USD and sold some today. I’m looking at 3.4 and 4.9 USD next. THE upgrade (one and only?) is scheduled for 12th of September. I’m planning to sell most (2/3) before. I don’t know much about ADA. I have a smaller position of around 8%.
I hope the crypto craze continues. I’ll try to keep my mental stops tighter this time around. I’ll aim to decrease my exposure before the weekend and perhaps increase it on Mondays. I can only trade crypto certificates during Swedish office hours (some also to 8 pm or 10 pm) while the crypto markets trade 24/7.