Uploaded October 2019 | Updated September 2026, 18 hours ago
In this third installment of my Bitcoin Price Diary, I’ll revisit some open positions which are still in play and review a sizable trade on REN. I also have a position in Bitcoin (BTC) that is still largely open.
As I have said a number of times on Twitter, I believe that it has been an altcoin season for months and that altcoins found their local bottoms in August. I have been comfortably trading them since. In early October, Bitcoin dropped and was ranging sideways, giving altcoins even more room to appreciate.
At the time of writing, Bitcoin price is a few days removed from a sizable 6.6% move up, which caused a drop across the board on many altcoins. I am proceeding with caution on altcoins for the moment until Bitcoin has provided clearer direction for its next move.
I prefer to keep my active trades at a minimum because it helps me manage my risk. Opening multiple altcoin positions at the same time rarely works for me as they move in tandem based on Bitcoin price moves.
This is why I assign a 1% risk for multiple positions as failing to do this can lead to sizable loss across the board. I prefer to identify the 1 or 2 setups I like the best and allocate more funds to heavier positions. In this case, I deployed the bulk of my trading capital into a REN position, which worked out beautifully.
Let’s take a look at some charts to see how the process worked out.
In this third installment of my Bitcoin Price Diary, I’ll revisit some open positions which are still in play and review a sizable trade on REN. I also have a position in Bitcoin (BTC) that is still largely open.
As I have said a number of times on Twitter, I believe that it has been an altcoin season for months and that altcoins found their local bottoms in August. I have been comfortably trading them since. In early October, Bitcoin dropped and was ranging sideways, giving altcoins even more room to appreciate.
At the time of writing, Bitcoin price is a few days removed from a sizable 6.6% move up, which caused a drop across the board on many altcoins. I am proceeding with caution on altcoins for the moment until Bitcoin has provided clearer direction for its next move.
I prefer to keep my active trades at a minimum because it helps me manage my risk. Opening multiple altcoin positions at the same time rarely works for me as they move in tandem based on Bitcoin price moves.
This is why I assign a 1% risk for multiple positions as failing to do this can lead to sizable loss across the board. I prefer to identify the 1 or 2 setups I like the best and allocate more funds to heavier positions. In this case, I deployed the bulk of my trading capital into a REN position, which worked out beautifully.
Let’s take a look at some charts to see how the process worked out.
