Taking Profits on USD and Buying!

Markets have settled and look bullish (for now)

Hey guys,

I hope everyone took a bit of advantage from the drop to the downside, we were just on time to avoid the biggest drop on April 13th (my last post was on April 10th). Altcoins look to form double bottoms here and with the relatively good news from the Fed, US job market (today) and decent earnings together with massive buybacks (Apple) - I’m taking profits on USD and stepping back in 100% spot long.

My Updated Portfolio

High conviction

ETH
LINK
QNT
HBAR
RNDR
INJ
FET
SOL
KAS
TAO
ALGO

High risk

AR
ONDO
AKT
EWT
NAKA
CSWAP
ORN
GLQ
LAI

As you can see if lowered the amount of coins because it’s now a bit more clear which ones show more strength than others. For some, there’s news on the way - for example: Quant was accepted into the RLN, big news for Quant’s involvement with the Digital Pound. For others, it’s narrative, hype or upcoming news. Please just run your own due diligence on any coin!

What To Expect

It’s hard to say where we go from here, $SPX target 1: 5000 being hit, Bitcoin didn’t take all the liquidity to the downside and can still do but I don’t want to risk sitting in USD with this weekend being green for alts. There’s definitely still downside risk for the overall markets but systematic algo’s will be forced long in the short term and so am I.

If there’s no headwind on macro combined with buybacks and tapering of QT to serve as a cushion for the Nasdaq and the S&P500 - we could identify a new target for the altcoin market which is between roughly 1.2-1.5T (ATH).

On the bearish side, we DO expect declining earnings and potentially a recession towards the end of this year: either in Europe or the US - or both. The market also has been pricing in up to 4 rate cuts this year which is clearly wishful thinking. So(!), I want to keep a big warning around these factors and black swans are always just around the corner - therefore manage your risk, don’t gamble and set stop losses to avoid massive drawdowns - consult your own professional financial advisor, not me. XD

Have a nice weekend,
BlowOffTopic