Crypto Update. What is our plan?— 30 Sep
(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. The flat bottom structure suggests further downside but the recent perkiness and bullish Altcoin structures suggests otherwise. Maybe we get a stab down and subsequent short-squeeze pump, maybe we just move up from here. But this is not the time to be heavily bearish, that time has long passed, and retail as usual is late to the party.
Extreme Fear market sentiment alone is a huge buy signal, but we don’t want to rush in here, we will wait and optimise our entries into either
1. A market sell-off or
2. A clear Bitcoin move and/or bullish low volatility state
And we’re adjusting our portfolio
SOL remains our dominant allocation, it’s very strong and I don’t think it’s done yet.
FTT likewise is strong technically and a great fundamental hold.
EGLD is a new pick. It held up very well during this sell-off and we think it’s going to perform very well short and medium term.
AUDIO is a high risk, high reward speculative play and it could rip. But it’s too high risk to allocate any more than 5% for now, we have too many strong horses to introduce too much risk.
ADA we are reducing completely. It’s still strong don’t get me wrong and it served us well, but I think our other picks will outperform.
Think like a buyer here, updates soon for when we enter.
Yao.
