Scott Redler’s Dog Bytes: How I’m Trading Crypto

I don’t think Bitcoin or Ethereum have bottomed.

Bitcoin moves fast and also follows active sequences. On 11/9 it gave \ a sell signal around that 69k pivot which was confirmed when $63k broke to get me into 75% cash. It just hit $45k and bounced a bit but I'm still waiting. I’d be interested closer to $42k down to $37.6k if we get a whoosh.

I warned that Ethereum is vulnerable and can play downside catch-up after the double top and loss of the 8/21 day near $4250. It broke below the $3960 area but didn't accelerate lower. I’d be interested closer to $3400ish, $3200ish, and then $2700ish. Otherwise I”ll stay away until I see a more constructive price pattern.

I sold more than half of my CRO as it hit .97c. I kept 25% and got filled Friday night into the .40 area. I took most of that off into the .60+ bounce. Be careful! If Ethereum and Bitcoin break this can see the .30's again which might be a spot to accumulate.

WAX was a huge winner. I started at .08. I sold 25% at .74 and another 25% at .97 to get me down to half. Recently, I got very heavy into the .40-.50 area again but was able to trade around that as it hit .73 on the AMZN news. This is still my biggest alt coin. But the market still seems vulnerable so I’m being careful. I’d be interested closer to .35-.42 again if it sees it.

Positions Disclosure as of 12/20/2021 at 8:03 a.m. ET