Blog

$GUP Update

So, after a brief recovery, GUP was rejected at the downtrend resistance. As long as we put in a higher low, we are looking good in my opinion. GUP has a loaded month so as I’ve said before, this is a mid-term hold that we just have to wait on for a bit. Wouldn’t concern myself that much with the price right now, but here’s a chart: gup4hr.png

As you can see, the 4 hour RSI has been floored for a while and it is bound to pop in anticipation of the events coming towards the end of the month. Keep hodling.

$SALT Update

So, BTC didn’t go on another run and bleed out the alts. This is great for our calls because it means they were able to have an extended recover. For SALT, this meant that we could push the bounce past the former support (now resistance). Now, the 1 hour RSI needs to cool and hopefully that means we will bounce off of the resistance which could now be used as support. The 4 hour RSI still has a lot of room to run so hopefully we will get a full recovery here and all altcoins will continue to fly up.

salt4hr.png

We are looking good unless BTC goes on another big run. Will keep you updated. Thanks for reading!

$GUP Update

GUP hasn’t bounced very hard yet, but as you can see on the chart, the 4 hour chart is absolutely floored. That and some events coming this month make this a definitely hold. I sold at the beginning of the BTC run today to buy back in lower and now my bags are packed and ready. I’ll be kind of forgetting about this one for a while until a real bounce but I am definitely bullish.

gup4hr.png

Will be updating on all my calls daily. Thanks for following!

$SALT Update

So, Bitcoin finally cooled off a bit. Hopefully it is done charging for a while so that the alts can recover. SALT has not had a very big bounce yet, but both the 4 hour and 1 day charts are looking good and ready for a decent recovery. Like I said in my original post for my entry, I am perfectly comfortable holding this coin at whatever price it is in the market because I know that I can redeem it for $27.50 on their lending platform if I were to take out a loan backed by crypto.

Here’s the 4 hour chart:

salt4hr

As you can see, the 4 hour RSI has begun to turn up. The first test is the resistance that was formerly a solid support. If we can get past that, I’d be comfortable calling it a recovery. If BTC decides to go again, we should drop down to the descending support line.

Here’s the 1 day chart:

salt1d

Same thing here. Bounced off our new support and looking to cross the former support turned resistance. RSI is at the bottom. Hopefully all signs for an incoming recovery.

If things still refuse to go our way within the next couple days, holding this coin long term is not a bad decision. The arbitrage change is very appealing. I might take out a cash loan on SALT’s platform and pay it off with the discount tokens we’re getting now just for the 300% gain. Before I do that though, I’d prefer to be able to see 300% gains against BTC if at all possible.

Thanks for following along!

$GUP Update

GUP is also suffering from today’s alt bloodbath. Fortunately for this coin, it has big catalysts this month, so I’m comfortable holding through this. When we broke support, I dumped most of my GUP at a little under breakeven to gain a better position (tweeted this). I rebought at .000074 BTC and am now watching closely in case I need to cut it lose for today.

Stay strong, people. This is completely normal and is likely to happen a few times a month whenever BTC goes on a run. We’re not going to always have winning trades but what I can promise you is that our wins will be more often and larger than our losses.

Will update GUP on twitter tonight and if anything big happens, I’ll make a post on it.

$SALT Update

Welcome to your first Bitcoin baptism. Alts got absolutely destroyed by Bitcoin today. No worries though, I’ll walk you through this.

SALT was looking great until Bitcoin decided to go wild, but that’s how things go. As much as it sucks, my strategy with SALT is to just hold tight. As more and more loans are granted, the higher the demand for this coin will be. I a perfectly comfortable holding this coin for the long term, so in the short term I’ll just have to stick it out. If you are able to do so, .0006 BTC is a great place to add more.

salt1hr

We fell through the solid support today and it looks like it will find a new, declining support. Hopefully the bounce will be strong on that line, otherwise we will have to reevaluate and possibly take the loss on this trade. If we do bounce, former support will likely become new resistance. I will keep you updated via twitter.

Binance

One of my first blog posts was a tutorial on using Bittrex, one of the most popular cryptocurrency exchanges. Today, I’d like to tell you about Binance. Binance is a fast-growing exchange due to its innovative fee structure and friendly user interface. It is widely seen as a better alternative to Bittrex because of faster speeds and more features. Being on multiple exchanges allows you to access more coins and projects which means that your investments will hopefully grow faster.

Deposit/Withdraw

Deposits and withdrawals are quite easy on Binance. The process of sending from your wallet is the same. You’ll need a deposit address and an amount. To deposit, locate the top navigation bar. Hover over “Funds” and click “Deposits/Withdrawals”.

Screen Shot 2018-01-03 at 9.11.39 PM

When you arrive to the balances page, find the coin that you need to deposit and click “deposit”.

Screen Shot 2018-01-03 at 9.13.28 PM

It will provide you with a deposit address and from there you just need to send it from your wallet.

This is the same process as Bittrex, but it might take some getting used to the navigation on the site. To check your deposit/withdrawal history, hover over “Funds” and click “History”.

Trading

To begin, hover over “Exchange” in the navigation bar at the top, and click “Basic”. On the right side of the screen, you can select your currency pair and then search for the coin you’d like to purchase.

Screen Shot 2018-01-03 at 9.22.08 PM

Once you’ve found your coin, click on it to go to the exchange page. Placing a buy/sell order is once again, very similar to Bittrex. You simply specify the price you want to pay and the amount you want to purchase.

Screen Shot 2018-01-03 at 9.23.41 PM

Another reason that I love using Binance is because of how they do their fees. If you hold their token (BNB), you can toggle a setting that allows you to use that token to pay any fees from your transactions. If you use their token, you get half off your trading fees (which are already lower than Bittrex). This also happens to make BNB a good investment. As more people start to use Binance, this coin will obviously increase in demand and therefore drive the price up.  I am slowly accumulating BNB not only to save money on fees, but as an actual investment.

Binance is quickly becoming the hottest exchange in crypto. If you are planning on trading frequently, you should absolutely have an account there.

Market Update

Good morning! Today, you got your first lesson on what happens when BTC pumps–alts bleed badly. Fortunately for our coins, we got great entries and are barely down anything. If things become worse, I plan on dumping the coins at a slight loss so that we can reenter when things look better. So far, the alt bounce has looked weak, so that makes me think that BTC isn’t done yet, but I will be watching closely today and trying to provide frequent updates via social media so that you can follow along with my thought process. Be sure to follow me on twitter @Caleb11Lombardo for the fastest updates!

$GUP Update

Yesterday I called an entry for GUP at a price of .000089 BTC. I said that I was going lighter than normal because of a possible drop to the second support line. Guess what happened?gup1hr

After a brief bounce on the first support, BTC’s bull run caused us to go to the second, more established support. That had a pretty good bounce but met resistance at our old support. I filled orders at .00008 to average out my entry to .000084, which means I am roughly 2.5% down on this trade so far. GUP has several events this month and I am not nervous at all holding this coin for the mid-term. If we break this support due to a continued BTC bull run, I will dump it at a slight loss and reenter at a better price.

$SALT Update

After breaking out of the falling wedge, SALT had a nice few hours when it looked like it would consolidate and continue its journey up. Unfortunately, BTC went on a run last night and hurt a lot of the alts. Days like today are exactly why getting good entries is so important. My SALT entry price was about .000008 BTC. Though it is unfortunate that I wasn’t able to sell at a profit following the break from the falling wedge, I am not down barely anything. At this point I am essentially breakeven. It looks like we may go down and touch the support if we don’t do a full bounce here. That’s fine with me, as I’ll probably add more at that point. I am comfortable holding SALT for a long period of time as it is a crypto that has a bright future and solves a major problem.

Here’s a chart: salt1hr

If we break the bottom support, I’ll be looking to exit at a slight loss and reenter at a better price.