#7 | Coffee & Markets

Morning!

Coffee is a-brewing, crypto is a-shootin’.

Today I’ll touch on some larger marketcap positions I’m holding or opening; Algorand, Orchid Protocol, Utrust, Stratis, VIDT Datalink.

P.s. If you’re interested in a review on Bitcoin and Ethereum, watch TraderSZ’s video on Youtube from yesterday. He goes over it in excellent detail, for sure a mentor of mine.

Personally I’m not taking any active longs or shorts. My bots are operating, but I don’t believe this is a low-risk area, TraderSZ will elaborate on that.

Algorand (ALGO)

Algorand, a great project. It has paid me well in the past. Furthermore, the bull cycle it has experienced isn’t as big as it could be considering how large its prior cycles were (not visible on the charts), and considering how long it spent in tight depression.

I’m holding about 3%, with the intention of being stopped out if we break below 1800 sats on the weekly close, to look for re-buys if we confidently reclaim 1800 sats, or for a retrace back to 1300 sats.

If we do hold this area, and I will also look to the USD chart for confirmation, if we can hold $0.95, I expect we’ll hold the 1800 sats area, if we fail the $0.95 level, I expect I’ll be stopped out.

Risk-averse speculators can wait for a solid directional confirmation here, I’m a happy holder for now.

Orchid Protocol (OXT)

While on the USD chart Orchid looks somewhat questionable since it has more potential downside for a retracement. Fundamentally, OXT is an amazing project. I’ve been a holder for a long time now, and I expect I will for much longer, since on the right, the BTC chart, I hope to see a big bull market yet, targeting the all-time highs, as well as August 2020 highs.

Invalidation is tight, with a weekly close below the all-time low on the BTC chart. I have entered 3% of my portfolio thus far, anticipating a full 5% if we get more movement on the Bitcoin chart, ideally on a break-out above the 1400 satoshi level.

If you’re not in it yet, buying as near to the Bitcoin all-time low could be a great entry, with a tight invalidation.

Utrust (UTK)

I won’t lie, I regret not having been in Utrust. It looks quite good, and I wish I saw the chart a little sooner. Entering in that dead-zone just before this break-out would have been ideal. Hindsight, so let’s stop whining and back to reality, my man.

Nik noted in his market outlook that last week’s UTK had extraordinary high volume (mainly due to that pump). If we can hold above ($0.25) 630 sats, I would want to see some moves for a new all-time-high and beyond, where my first target will be the current all-time high (not that massive wick, that’s wash-volume to me).

Stratis (STRAX)

Primarily, I’d like to focus on my entry for Stratis. I’m currently holding about 1.5%, and this is personally not a great area for entry purely because of the unconfirmed directional bias. I’ll look to add up to 4–5%, but with Ethereum and Bitcoin sitting at resistance, if they retrace hard, Stratis could be dragged down (just like the other mentioned alts). Now if that were to happen, I’d prefer to sell back into Bitcoin and buy back lower, ideally around 3500 sats. That gives me a tight invalidation, since a break back below 3500 sats would indicate a potential move for the Bitcoin chart all-time low (or close to).

As for targets, I have drawn some preliminary targets, but quite frankly, I prefer to do my analysis nearer to date when it is coming close, since price-action will give me a better idea of how high it might reach. Either way, I’d take more partials on the way.

VIDT Datalink (VIDT)

VIDT is a great investment at this point purely on R/R basis. VIDT is a great project, so I’m happy to be a holder here. I’m holding about 3% now, with another 2% to be added as soon as we get a break-out above 1600 sats.

Invalidation is if price closes the weekly back below 1000 sats. Targets are 4400 sats, all-time high (or 7700s), beyond.

I hope you found some value, again, not investment advice, just sharing my methodology and strategy.

Keep it easy, keep it breezy

Cyril

crypto trades — coffee & markets — risk management