Tag Archives: cryptocurrency

Crypto Update: DSH, IOT, XRP

(Disclosure: I have trade positions in DSH, IOT & XRP. Long-term HODL positions include: BTC, ETH, XLM, and XRP. This is not a recommendation to buy or sell any currency.)

After a successful couple of months with gains of 2800% since October, I decided to split my portfolio into two. The first will be a trading portfolio while the second will be more of a HODL portfolio. The analysis provided below is on the trade portfolio only.

Each trade is risk adjusted to reflect portfolio capital at risk of just 2%. This means that when one of these trades stops out, my max loss will be limited to 2% of portfolio value. Trading with this style of risk management is profitable provided that greater than 30% of trades prove profitable.


Dash (DSH) appears poised for a reversal after consolidating on the Daily chart since December 20th.

Entry: $1099.80
Stop Loss: $1100 (moved to break even from $1050)


Iota (IOT) is a low-risk entry point near trend and moving average support. After consolidation since a high on December 19th, Iota appears ready to move again.

Entry: $4.12
Stop Loss: $3.80


Ripple (XRP) has already had a fantastic run to close out the year. I’m skeptical that it will continue without consolidating for a few weeks. To that end, I have a quarter position with a tight stop in the event that it turns bearish.

Entry: $2.72
Exit: $2.60

Crypto Update: Bitcoin Reversal?

(Disclosure: Mr. McHugh owns XRP and XLM. This is not a recommendation to buy or sell any currency.)

Bitcoin (BTC)

Bitcoin corrected, but held steady at weekly support of $12,000. If BTC closes above $14,550 today, we’re looking at a bullish reversal which bodes well for the rest of the crypto market. If it closes below $14,550, which is trendline resistance, it’s possible that we may still be in for a sell off. Depending on the direction of the breakout, I expect a $6,000 move to $8,000 on the bear side or $20,000 on the bull side.

Bottom line: A close above $14,550 is a bullish signal.

Ripple (XRP)

It’s been a great run since buying on the breakout of 80 cents. I’m holding strong waiting for an inevitable Coinbase listing, which should spike XRP nicely.

New Position: Stellar Lumen (XLM)

There is room for competition in most markets. Stellar is the Google Android to Apple’s iOS or Microsoft’s Windows. Both Stellar and Ripple should prosper in the coming year.


Trade Record: +2080% (since October 28, 2017)
– Fund forthcoming

– Key trades:
— BCH buy stop at $401
— IOT buy stop at $1.11
— XRP buy stop at $0.80
— XLM buy limit at $0.000036