Day 3 – La Fortuna

dExplain marathon la fortuna day trading defi binance futures

Bitcoin is hovering at key support levels of 50-52k, just above its 200 EMA on the 4-hour chart. Would like to see bulls flip 54k resistance into support to confirm trend reversal. That’s where we would look to enter a long position.

If BTC continues sideways above 4H 200 EMA, then we’re expecting a green weekend on Altcoins. Over the last 3 months price has always gone up after CME options expire, so we will be looking for that to happen again.

  • Starting balance: $1,400
  • Current Balance: $1,692 (+20.8%)

Farms

  • bDIGG/BTCB: $279 (up $29)
  • RAY/ETH: ~$232 (down $18)

bDIGG gave us a positive rebase, very nice! Kind of hard to monitor our deposit on Raydium as they don’t have any analytics yet. We provided ~14 RAY and ~0.07 ETH into the pair, so calculating off that.

Futures

We entered several aggressive positions on coins that had recovered above their 100 EMA on the hourly chart. Our EGLD and SUSHI entries were based on positive news attracting more volume. Elrond launched the third phase of its staking program and Sushiswap released its first BentoBox dApp. Ren Protocol recently announced a partnership with 1inch Exchange to bring renBTC to Binance Smart Chain. We noticed volume was increasing quickly on BNB and REN in the morning, meaning there was a strong demand to buy the dip.

These were pretty risky trades, so we chose not to share them in real-time.

Closed all positions once Bitcoin was approaching resistance on the 4H chart. No point in taking any further risk, as rejection would mean losing all profits. We look for new entries over the weekend, once we have clear confirmation of a new trend!