The Road to 100 000 dollars! Week 14 : Consolidation phase. Next? Breakout!

in cryptocurrency •  7 years ago 

Welcome everyone

Our target is 100 000 dollars.

Last week's Portfolio

Total amount : 14 161 dollars!

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Today's Portfolio

Total amount : 13 726 dollars!

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We are in a consolidation phase. Sooner or later we will break out of this range bound channel. The million dollar question is , will we go up or down? It’s hard to see where this is going. If we look at the fundamental part we see both good and bad news. More companies embracing cryptocurrency. The US investigation on bitcoin price manipulation is great news. Basic regulation is needed. In July we have another G20 summit. Bitcoin will surely be a hot topic among financial ministers. New regulations are being expected.

I will not buy anything today. Too much question marks. I expect we will go down more. Maybe setting a new low.

Let’s look at the technical situation:

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Bitcoin market cap : 126 650 756 282 USD
Bitcoin volume : 5 075 660 000 USD

The large downtrend has clearly been broken. But we are still in a dip. The red line is key here.
It is our long term support. If this breaks , we will see new lows.
Currently , the area around 7100 dollars is holding. If this breaks , we will probably drop to our long term support line.
Volume has been dropping too. But the price has been range bound these last few days. This means market is currently deciding which way it will go.

I bought :
Nothing

I sold :
Nothing

Thank you for reading.
Any advice is much appreciated.
See you next week and thank you for your support!

Portfolio week 1
Portfolio week 2
Portfolio week 3
Portfolio week 4
Portfolio week 5
Portfolio week 6
Portfolio week 7
Portfolio week 8
Portfolio week 9
Portfolio week 10
Portfolio week 11
Portfolio week 12
Portfolio week 13

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Still no Cardano (#ADA)? 😮

I am excited and golem (#GNT) and @wavesplatform (#WAVES)

At this point , I'm not buying anything. It could go either way!

Indeed. I tend buy a little when ever the prices drop. It's impossible to predict the exact bottom, so just averaging out my purchases.

I also sell a little if it spikes and bank some cash to use for the dips

have not read your posts in a while. Interesting how things are unfolding with crypto prices yet overall you are holding up very well. Seem diversification is crucial. Thanks.

It will all moon soon. :)

good work!! thanks for you recent support..I'm following!

Very good content!

Thx!

Thanks sir @d0zer for the valuable crypto analysis. I think the crypto market will not go down rather up very soon. Maybe we get some good news from G20 summit.

I also hope we will get some very good news! I want higher prices. :)

I love this style d0zer, you have to have some serious motivation to keep this up. I will live vicariously through you and your updates on your portfolio. I have too many holdings to do this ;)