This post will be the best Cryptocurrency to invest in for the week of August 25th. It is coming out a couple of days early since it is only August 23rd but it is what it is. I will be going over Bitcoin, Ethereum, Litecoin, Ripple, and Dogecoin.
This post will be the best Cryptocurrency to invest in for the week of August 25th. It is coming out a couple of days early since it is only August 23rd but it is what it is. I will be going over Bitcoin, Ethereum, Litecoin, Ripple, and Dogecoin.
You can view other stocks, futures, and Forex I review on https://evancarthey.com.
Bitcoin is in a wait and see mode. I am long Litecoin and am waiting for a deeper pullback in Ethereum before I enter.
I wish I could get in Litecoin but Robinhood (the trading app I use) doesn’t let you trade it. If you are looking at trading cryptos or stocks and haven’t yet then I recommend checking out Robinhood.
They don’t charge fees for trading so you don’t waste any money on fees which is crucial for those with small accounts. If you plan on day-trading then do not use Robinhood. It isn’t made for day-trading. It is made for holding your trade for several days and longer.
If you use my referral link when you sign up then both you and I will receive a free share of some random stock: http://invite.robinhood.com/evanc203
I truly believe that meditation is the key for every person to discover how to become a profitable trader. You have to tap into your subconscious mind in order to access the wisdom you have accumulated over the years.
If you are anything like me then you have read countless trading books, taken numerous trading courses, and have been ripped-off from “gurus” with their crappy trading systems and trading rooms.
It wasn’t until I started looking within myself and trusting myself that I started having trades become profitable rather than losers.
I spent over 10 years grinding my gears trying to learn from other people. There were a couple of guys who have good products but they are few and far between.
I wrote a guide on how I discovered and continue to discover the trading styles and systems that work for me. You can read the exact steps I take here: https://evancarthey.com/how-to-become-a-profitable-trader-using-meditation/
Video for The Best Cryptocurrency to Invest In for the Week of August 25
If the video does not embed then here it is if you click on this sentence.
Charts From the Video
Here are the charts from the trades from the video. I’m not going to type out the entries and exits because I go over them in the video.
But if you want to see them and enlarge them, then here they are.
Bitcoin is in wait and see mode. The way my setups work I am waiting on Bitcoin to break one way or the other. The pink line is the parabolic curve line.
Ethereum is currently in a short setup for the 1-hour chart. I am not in the trade and am not looking to get in unless it takes off to the upside without the exits being filled. Right now the risk vs reward isn’t worth it.
Litecoin is a cryptocurrency that I currently am long in as of 8/23/2019. I go over the setup and the strategy for how I am trading it in the video above.
If Robinhood offered Ripple to be traded then I would be all over this trade! I still might go and put some money back into my Coinbase account in order to get in this trade. I just hate Coinbase for trading purposes because it is not user-friendly in my opinion. If you are just using it for super long term holdings then that is fine.
Conclusion
When the dust settles it will be interesting to see which crypto comes out on top. Right now Bitcoin is king but personally, I don’t think they will end up as the king.
The transaction times are too slow for it to be adopted to mainstream use. But if you are using it for online transactions where you can afford to wait a couple of minutes for it to go through then it is just fine.
Since it has been adopted by the people who use cryptocurrency (myself included) it is going to take a new crypto that becomes a highly used source of transactions. Also, the trust factor is huge.
People trust Bitcoin because it works and has been shown to be safe. The new crypto will have to develop the trust that Bitcoin has garnered.
But as you can see from the charts above there are still plenty of trades to be had and money to be made in the cryptocurrency market.
