‘To the Moon’ Watchlist: July 03, 2022

by | Jul 3, 2022 | Watchlists

Happy Sunday, traders. It’s Matt here.

 

I hope you’re doing something exciting with your long weekend. Remember that the markets are closed tomorrow to celebrate the fourth of July!

 

Of course, I think you know by now that I’ve been camped out by my crypto-focused screens … and the coins don’t sleep. 

 

So let’s get an update on where the mother coin is at — Bitcoin. 

 

Plus, I’ll share a recent crypto trade I made and what it can teach you about becoming a consistently profitable trader…

 

Bitcoin (BTC) on the Edge 

Bitcoin dipped below $20,000 again last week, and it’s started to set up a decisive situation. That is, when an asset consolidates sideways long enough, it eventually has to make a decision: up or down? 

 

Last week I mentioned that traders tend to look for a double bottom. We might be seeing a baby double bottom pattern right now … that is, BTC’s trading below the $20,000 level for a second time but also making higher lows than in mid-June — when it touched $17, 601.58.

 

A typical double bottom would bounce a bit higher. For example, let’s say it’s consolidating at $20,000, then bounces up to $25,000 (previous support is at $30,000), and back down to $20,000 before trending up for good. 

 

BTC, on the other hand, is still more or less consolidating around the $20,000 level. But if it stays below $20,000 for too long, it might spook out traders and send it down another leg … Perhaps to that $15,000 level I’ve been waiting for.

If You’re Going to Trade Crypto… Watch This Demo First

It reveals exactly how to tell which cryptos to buy.

And more importantly, which ones to keep your hard-earned money away from.

My Recent ApeCoin Trade 

I recently bought 5,500 shares of ApeCoin — the crypto coin belonging to Bored Ape Yacht Club (BAYC). My entry price was $5.15. Unfortunately, I had to sell all my shares at $4.44. But I didn’t sweat it. Why?

 

Because I knew I was taking a risk when I got into the trade. I felt there was a possibility that Bitcoin could drop again and influence ApeCoin downward as well. But there was also a possibility that it could bounce upward, and I wanted to position myself to catch that action if it did. 

I made an asymmetric trade. What does that mean? My potential gain of 40%-50% outweighed my potential 10%-20% loss. So it was worth it. Even though it didn’t turn out in my favor. That’s part of being a trader. You have to put yourself out there when there’s a good risk to reward opportunity on the table.

Conclusion

Trading is an art form … and sometimes you have to understand the war of art — or is it the art of war — to play the game. 

 

On a practical level, you also have to be willing to take calculated risks. Knowing how to do that is key to your success. It was for mine

 

I’m passionate about helping traders learn the strategies, techniques, and mental planning it takes to succeed, whether in crypto or in stocks. The patterns I teach work in both markets. I hope to see you at the next strategy session — catch you in the War Room!

After Showing This Stock Trader The Crypto Trader Blueprint… He was Able to Turn $20,456 Into +$200K On One Trade

Find Out How You Can Get In On What We’re Calling…

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