NEWSLETTER #8 (September/2018)
CONTACT:
Tina@shortmetina.com
Support@shortmetina.com
CONTACT:
Tina@shortmetina.com
Support@shortmetina.com
*Newsletter #9 (October/2018) will be released 10/8/2018*
Hello and thanks again for tuning in. Once again, our aim with this newsletter is to update you monthly on all things relevant impacting this new space, as well as some technical analysis.
(The content is purposely kept short, we want to provide information in contained soundbites)
(The content is purposely kept short, we want to provide information in contained soundbites)
Similar to August, September's Newsletter will mainly focus on Technical Analysis and the psychology of ‘trading/investing” in a new space. In 2018 alone, the cryptocurrency market has lost over 600 billion dollars. Despite that loss, the space continues to grow in notoriety and credibility.
I started this Newsletter in February of 2018 and laid out my game plan for all my members to see. As you read my game plan that was first published in Newsletter #1, as well as, all subsequent newsletter --- ---take into consideration the ‘sell-off’ that’s underway in the cryptocurrency space.
My game plan was thought out; with a worse case scenario in mind.
Do note; despite the loss of over 600 billion dollars; I strongly believe the cryptocurrency market is here to stay.
Invest wisely and think long term. In fact; with the exception of reading my newsletter monthly; I would unplug from the Crypto Markets and tune back in within the next 3-5 years!
Noteworthy NEWS
A great deal of the sell-off within the past week can be attributed to headlines circulating around Goldman Sachs plan to 'scrap' its Crypto trading desk. Here's where it gets interesting. I have searched high and low and there has been no official confirmation of this. Most headlines include the word, "may"! I think this news is a concerted, calculated effort to drive the price of cryptocurrency lower. A few news outlets have began to report that this is in fact, "fake news".
I started this Newsletter in February of 2018 and laid out my game plan for all my members to see. As you read my game plan that was first published in Newsletter #1, as well as, all subsequent newsletter --- ---take into consideration the ‘sell-off’ that’s underway in the cryptocurrency space.
My game plan was thought out; with a worse case scenario in mind.
Do note; despite the loss of over 600 billion dollars; I strongly believe the cryptocurrency market is here to stay.
Invest wisely and think long term. In fact; with the exception of reading my newsletter monthly; I would unplug from the Crypto Markets and tune back in within the next 3-5 years!
Noteworthy NEWS
A great deal of the sell-off within the past week can be attributed to headlines circulating around Goldman Sachs plan to 'scrap' its Crypto trading desk. Here's where it gets interesting. I have searched high and low and there has been no official confirmation of this. Most headlines include the word, "may"! I think this news is a concerted, calculated effort to drive the price of cryptocurrency lower. A few news outlets have began to report that this is in fact, "fake news".
Game Plan
(first published in Newsletter 1)
- Decide what I can actually afford to invest in the space without becoming homeless (this protects me if the Crypto market turns out to be nothing but hog wash).
- As a general rule of thumb; I wouldn't invest more than 10% of my savings. For example; if I had $250k saved in the bank; $25,000 would be the MAX commitment. That way if the market goes south and all my coins become worthless; I still have $225,000 to roll with.
- Continue deploying money into the crypto currency space in phases. Phase 1 started around November/2017.
- Deployment of capital will take place as coins near their support areas (hoping to complete my total purchases in 4 phases).
- If this is anything like the stock market (which I've participated in for almost 2 decades); the more negative the press, the more likely these coins have a chance of succeeding.
- Remind myself to stay away from calling 'tops' or 'bottoms'.
- Add to position in phases; take some off the top as I see fit (this depends on your profit targets).
- Remind myself to Hodl!
- Remind myself, this is a new space and the kinks will continue to get worked out.
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DIVERSIFY YOUR PORTFOLIO
With more than 1500 coins, tokens, etc.,and more hitting the market every month, it's hard to determine which will emerge as the leader(s) in the space. Given the above; diversifying your crypto portfolio makes a ton of sense. As I build my crypto portfolio; monies will be concentrated to my list of top 10s or top 20s.
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WHAT DID I BUY?
"Since our last Newsletter, I've made zero purchases. I continue to HODL and await better entries.
Technical Analysis
(Image September/2018)
BTC/USD
- As I anticipated during our last newsletter; the sharks are attacking and the sell-off is underway.
- At the time of our August Newsletter writing; Bitcoin was trading around $6300. Bitcoin at the time of this writing is trading around $6100.
- My stance remains, going into September and October; I am anticipating more downward pressure. Press remains negative and I expect a move to $4500-$4800.
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(Image September/2018)
(August Recap)
ETH/USD
(September Recap)
ETH/USD
- Similar to Bitcoin, for the Month of July; price action was ‘muted’.
- The beginnings of August; however, has the coin fairing differently.
- Major support of $400 broke in a meaningful way (refer to chart).
- Heading into September/October; I accept the sharks to attack.
- Expecting a $200 print.
(September Recap)
- Re-reading August's recap indicates I was very generous.
- I expected a $200 print; as I type this we are trading at $189.
- I am expecting further downside and capitulation to take place around October/November.
- I am expecting the sharks to drive this down to the low $100s. At that point; I would start paying attention for signs of a reversal.
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(Image September/2018)
(August Recap)
LTC/USD
(September Recap)
LTC/USD
- Last newsletter; I hinted that a break of $100 (which represented major support) would cause a massive sell-off.
- Sitting at $63; we’ve declined 37% from $100 support.
- Again, a coordinated attack might be underway; a $40 or $50 print should not surprise you.
(September Recap)
- As we anticipated in our last Newsletter, the sharks attacked and Litecoin has depreciated significantly.
- As I type this, we are sitting at $52.
- I am anticipating another attack to drive the security lower. Forcing most, if not all, retail traders out of Crypto-Currency.
- Anticipating a move to the $30s. At that point; I will begin to pay attention for a potential recovery.
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(click on image to ENLARGE)
XRP/USD
- Going, going, going... ...as with all other tokens, nearly gone!
- As I indicated in our last newsletter; I am expecting a decline with Ripple between August to October.
- Similar to the other coins; anticipating another 20% move to the down side. Once capitulation occurs; the rebuilding may be able to start.
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DISCLAIMER: Nothing on this site shall be constituted as investment advice. Cryptocurrency is a highly, note, HIGHLY speculative market. The returns are great but so are the risks! As with investing; I never invest with money I can not afford to lose.