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Mind The Cryptos

Published 09/19/2022, 03:45 AM
Updated 07/09/2023, 06:31 AM

I’m beating this point to death, but I’ve got to say it again: don’t lose sight of crypto. I’d love to see an early week bounce and re-load some aggressive positions with the cash I’ve got left, but I’m not so sure we’ll even get that. My suggestion is to watch this crucial level on Bitcoin:

BTC Chart

And, even more important, see if we “slip away” from this already-broken trendline on Ethereum. More particularly, watch that dashed line. If we break 1350 or so, it could be sell-a-palooza time. (Please note I took these screenshots on Sunday morning, and as I’m typing this a few hours later, these markets have already broken down more).

ETH Chart

As a recap, my portfolio is:

  • 28 long put positions, all individual equities, all expiring next year;
  • About 10% cash for aggressive positions, since I’ve deliberately extracted most of my cash as profits

Latest comments

Interesting write up Tim. Could you please illustrate what would happen to the Crypto Market if the FED announce a 100 bps interest rate?
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