Investment Log 6-19-24

I am currently as deep as I could possibly be into $ACH. Currently looking for a reversion to the 200 day moving average. Holding 200,000 tokens, entering profit at $4,900. If we revert to the 200D MA our position will be worth +9%


Yesterday the price wicked down to the bottom of a multi-year uptrend. I am confident in my position, I just wish my dollar cost average was lower. At the top end of this formation, my stake will be worth $9,200, +188%. 

Bitcoin, the market mover, looks to be in an ascending formation which terminates mid-July. There is potential for downside movement to the 200D MA, however with institutional investment we may see it float above for quite a while. 

Looking at the chart for $IBIT, Blackrock's $BTC ETF, we can see clear resistance at the top. The chart at the bottom shows assets under management. Clearly, Blackrock is continuing to accumulate at current price levels. We are in the final month of the second quarter so there is a chance we will see a pump so these wall street cryptos will show positive ROI.

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Investment log 6-20-24

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  Yesterday was a significant green day for $ACH. I cashed out the principal on my bottom 3 positions in the green at .023637, totaling $1,100. I retained appx 3,900 ach tokens as profit. It is quite a relief to have the cash back, it was nearly every single dollar I own.  Currently the price is jumping up and down my entry points like strings on a guitar. ACH is holding above the 200 hour moving average which gives me a bit of confidence I'll make a profit on the remainder of my positions. Zooming out to the daily chart, we can see there is still upward potential before it meets the 200 day moving average (See RSI). I recognize we are still in a downtrend, coming down from the highs of April, therefore I am planning to sell for a minimal profit. Just basically exit the market with my butt intact. Zooming out even farther to the weekly chart, you can see the big picture. I need my entry point to be right on that lower purple line. This is a very well established upward triangle for
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