US Dollar Strength Puts Pressure On Cryptocurrency Values
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The recent strength of the US Dollar on the heels of the rally in the US 10 YR interest rates has put pressure on highly speculative risk assets and high PE equities. There have been huge moves in several sectors and money is flowing from tech and stay at home equities into stocks that generate consumable products, produce income and pay their share dividends.
Maybe we are seeing a similar pattern within cryptocurrencies. We can look at the DeFi complex to find cryptocurrencies such as Coti (COTI) and Cosmos (ATOM) which pay interest in order to find trades that have weathered the risk asset sell off better than other assets.
For example Binance is offering up to 63% APY on 1INCH.
Our trading system continues to monitor for long entry levels in cryptocurrency markets.
Watchlist:
|
Cryptocurrency |
Ticker |
Entry Price |
Target Price |
Stop Price |
Entry Date |
|
ATOM |
ATOM/USD |
$42.39 |
$61.48 |
$37.50 |
TBD |
|
COTI |
COTI/USD |
$0.41419 |
$0.54014 |
$0.36156 |
TBD |
The following are recently closed trades. We continue to monitor the markets for bullish entries.
|
Cryptocurrency |
Ticker |
Target Price |
Exit Price |
$Profit |
Exit Date |
|
ATOM |
ATOM/USD |
$36.80 |
$36.80 |
$8.30 |
01/06/2022 |
|
LINK |
LINK/USD |
$26.49 |
$26.49 |
$5.27 |
01/07/2022 |
Disclaimer: This post is not financial advice. We are providing our trade journal entries for entertainment. We provide this information not as trade recommendations rather to monitor and follow ...
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