Let’s add our FTT position back on, 13% of the portfolio selling bitcoin for it.

I expected Alts to capitulate sell against Bitcoin due it’s strength but that didn’t end up materialising. FTT is roughly the same price as when we sold, SOL on the other hand ripped it and unfortunately has surpassed our exit. We’ll wait for opportunities for a re-entry but probably not as big. As expected the markets have performed well since our re-entry and I assume continued bullish price action till the end of the year. We have a conservative target of 83.5k USD per Bitcoin, I’ll write a detailed post soon about that and how we came to that figure.

FTT/BTC 2hr chart

Before

Elrond (EGLD) is forming a beautiful horizontal wedge against BTC on the 4hr. It showed relative strength over the past 2 days compared to our other positions and looks primed for a breakout, hence we increase our position here from 10% to 20%. Decreasing out FTT position from 23% to 13%, making Elrond our 2nd biggest holding.

EGDL/BTC 4hr chart

BEFORE

(no changes to the portfolio yet)

It’s been a bit of a tricky gestation period for crypto. We have been somewhat accurate in our bearish prediction so far but I don’t think we’ll get the extreme sell-off to the 35’s we originally speculated.

Technically Bitcoin doesn’t look good for upside…

Yao - King of the Rock

The 10k to 100k journey — I’m simulating an unleveraged Crypto based investment portfolio. Started 26th July 2021. Blogs for each rebalance. @YaoKingOfDaRock

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