Crypto Trading Watchlist #017
In today´s crypto trading watchlist, the following coins and tokens are covered: COCO, XRP, ARB and BTC.
Possible trading opportunities are followed by my own trades, best and worst, this last week. Which this time include only trades on one token, which is $SXP.
If you would like to watch my previous watchlist, you can do that here or visit my blog. I also do TikTok and Youtube shorts of some coins, so take a look at these.
I hope you had an amazing weekend. It's time to start off with cryptos showing opportunities at the moment.
Long
COCO/USDT
$COCO looks good on the daily for a longer term breakout above the $1.75ish area. It has been trending up slowly and made higher lows on the daily and got some good volume in today. If this keeps holding near $1.70 it can get a good breakout. I will look for a trade to the $2s as a first goal.
XRP/USDT
$XRP is consolidating above $0.49 so far and might be a good long if it holds above it. It has a really good risk reward goal with about 1 cent risk for potential +5 cents profit for every coin. It needs to break $0.525 first though on the way up for continuation which might be the first hurdle stopping any upward momentum.
Short
ARB/USDT
I still have $ARB on my Short list, as I think the support in the $1.10s will break soon. Even though it has got support so far, I am not seeing a positive development of the trend soon. Therefore, I am looking to go Short on any bounce on the daily as long as this keeps making lower highs. My price target will be in the $0.90s. Once this support breaks, I can see a big price flush and stop losses triggering.
Undecided
BTC/USDT
Bitcoin is still on the undecided list, as it is consolidating for almost a month now. Until this picks a way, trading volatility will be smaller across all cryptocurrencies. My idea for now is to wait and let the biggest fish in the tank pick a direction. Might happen today as US markets are open again after a long weekend and traders will probably put their gunpowder to work.
So below is the zone between which $BTC consolidates at the moment.
My trades this week
As always I will start off with the worst trade this week followed by the best. If there are more bad or good trades I will mention them more.
This time I will include both in one section as it was both on the same one. I am also trading in small amounts because I do not currently have the funds to trade in large amounts. So the account I am trading with is about $130. I will try my best to document the trades here and display my progress, good and bad. I hope it helps you, because I know that it will help me in sticking to plans and rules in any case.
Best & Worst
This time both, best and worst, trades were done on $SXP. Where I lost first, as I got Short on the runup, which I definitely should not do. Got in Short again on the backside and also lost some profits on the table as my last profit taking took place in the $0.67s. I could have waited a few days more and would have gotten 10 cents more per token. Holding on to winning trades is not easy and I will keep working on it until I see some major reason to exit, like price levels coupled with volume. See the P&L chart below.
Let me know if you are interested in such displays of my trades.
The End
Thank you for reading my newsletter, I appreciate you all!
I hope you have a nice rest of your weekend and a nice start to the new week!
Niklas
This is not financial advice, it is for educational purposes only!