My weekly routine is to research the cryptocurrency market for coins which I think are showing good FA indicators and few weeks I decided to create my first public post on Publish0x on my ‘coins of the week to monitor’
Now I am not a day trader but I will look for opportunities where I think it will result in a positive yield.
Here is my article for last week's coin to monitor last week which covers my reasoning for investing in these coins - Crypto Coins to monitor this week - W/C 4th May 2020
So how did the coins of the course of the week.
The coins were actually performing well throughout the week and between Mon-Friday there were all in the positive with over 10% gains.
However, as you probably expected they all dipped over the weekend when bitcoin dumped. This was stated in my original article that I expected the coins to outperform Bitcoin and over the course of the week my predicted outcome was playing with both coins outperforming Bitcoin but then they also outperformed Bitcoin in the dump too.
This was the first time in a month my stop losses took effect on both coins.
I managed to take a 10% profit on RVN on Friday as I could see a lot of sideways action throughout the week and didn’t expect much price action on the week (well I was wrong) and matic stop losses were set at buy entry which saved me from making a loss.
I will be monitoring the market this week to see if BTC can hold resistance or not before opening any position into Altcoins.
Hope you found summary helpful, follow me for some other future suggestion which will help you conduct your own research before investing.
Legal disclaimer: This is my personal opinion based on the research I have conducted, this is not professional financial investment advice, please conduct your own research before investing.