Crypto Portfolio Update (Aug 2021)

  • Buying the blood was certainly paying off now.
  • See the blue circle, that was the time period that I have been heavily accumulating.
Crypto Fear & Greed Index Over Time
Crypto portfolio as of 7 Aug 2021 @ 01:35PM SGT
  • When we analysed Bitcoin chart, it is obvious that we are hitting resistance block, drop in price should be expected.
  • So, now the question is: What should we do from here?

Answer:

  • I am expecting the price action to test weekly support block (indicating as light blue box).
  • I will place buy order in blue box.
  • Short term we shall see volatility.
  • Historically, Q4 had been some good months for Bitcoin and Crypto in general and I am expecting Santa Claus rally by this year end.

With all being said, we should be wary that:

  • Though there is a possibility, it is unlikely. We spent almost three months since mid-May below the blue box — accumulation phase. Therefore, we should see some reactions when price meets the mentioned zone.

Exit strategy:

  • I will sell 65% of my crypto holding when first target is met.
  • Sell another 15% of my crypto holding when second target is met.
  • Let the remaining 20% ride no matter what happens.
  • I will record my crypto trading journey on my blog.

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