{"id":8932,"date":"2021-08-23T21:19:36","date_gmt":"2021-08-24T01:19:36","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=8932"},"modified":"2021-08-23T21:23:17","modified_gmt":"2021-08-24T01:23:17","slug":"best-crypto-swing-trades-aug-2021","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/best-crypto-swing-trades-aug-2021\/","title":{"rendered":"3 Explosive Cryptos Setting Up for Potential Buy Entry Now"},"content":{"rendered":"\n<p>The following timely and actionable crypto trading commentary was originally published in the August 23 issue of <em>Morpheus Crypto Report<\/em>.<\/p>\n\n\n\n<p>We start with a quick chart walk-through <strong>three top swing trade setups to add to your watchlist now<\/strong>, then share a quick update on our current positions in the Model Portfolio.<\/p>\n\n\n\n<p>If you like what you see, you may request a free trial membership until September 1, 2021 by emailing &#8220;TRIAL&#8221; to <a href=\"mailto:editors@morpheustrading.com\">editors@morpheustrading.com<\/a>.<\/p>\n\n\n\n<p>Feel free to drop us any questions or feedback by leaving a comment at the end of this post.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\" id=\"best-crypto-trades\">Quant ($QNT)<\/h5>\n\n\n\n<p>Quant ($QNT), the largest position and biggest gainer currently in our Model Portfolio, remains one of the best-looking charts in the market:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/QNT082321.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/QNT082321.png\" alt=\"\" title=\"\"><\/a><figcaption><em>Press to view full-sized image<\/em><\/figcaption><\/figure><\/div>\n\n\n\n<p>Notice how cleanly $QNT has been trending higher for the past several months.<\/p>\n\n\n\n<p>$QNT recently rallied to new all-time highs after the 10 and 20-day moving averages converged to provide support on August 17.<\/p>\n\n\n\n<p>Now, $QNT is consolidating near its highs, holding above new support of the prior breakout level.<\/p>\n\n\n\n<p>In addition to a great-looking chart, we are also quite bullish on the fundamental, long-term growth story of Quant.<\/p>\n\n\n\n<p>Do a bit of your own research on the project and you too may come to the same conclusion that $QNT deserves a spot in your long-term portfolio.<\/p>\n\n\n\n<p><a href=\"https:\/\/youtu.be\/Uaalh7YWoBI\" target=\"_blank\" rel=\"noreferrer noopener\">HERE<\/a> is a YouTube video that does a great job of explaining the Quant story (a bit long, but worth a watch).<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">TABLE OF CONTENTS<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/morpheustrading.com\/blog\/best-crypto-swing-trades-aug-2021\/#Is_it_time_for_DeFi_to_shine_again\" >Is it time for DeFi to shine again?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/morpheustrading.com\/blog\/best-crypto-swing-trades-aug-2021\/#Crypto_Commentary\" >Crypto Commentary<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/morpheustrading.com\/blog\/best-crypto-swing-trades-aug-2021\/#Ethereum_now_poised_for_a_potential_breakout_above_the_highs_of_its_range\" >Ethereum now poised for a potential breakout above the highs of its range<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/morpheustrading.com\/blog\/best-crypto-swing-trades-aug-2021\/#Model_Portfolio_Report_Card\" >Model Portfolio Report Card<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/morpheustrading.com\/blog\/best-crypto-swing-trades-aug-2021\/#Closed_Trades\" >Closed Trades<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/morpheustrading.com\/blog\/best-crypto-swing-trades-aug-2021\/#Open_Positions\" >Open Positions<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/morpheustrading.com\/blog\/best-crypto-swing-trades-aug-2021\/#Announcements_Crypto_Trading_Webinar\" >Announcements: Crypto Trading Webinar<\/a><\/li><\/ul><\/nav><\/div>\n<h4 class=\"wp-block-heading\" id=\"crypto-trades\"><span class=\"ez-toc-section\" id=\"Is_it_time_for_DeFi_to_shine_again\"><\/span>Is it time for DeFi to shine again?<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>The DeFi (decentralized finance) sector has been consolidating for the past several weeks, but is starting to show signs of relative strength.<\/p>\n\n\n\n<p>We are anticipating a rotation back into DeFi in the next phase of the bull run, and are now targeting both $COMP and $MLN for potential buy entry.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">Enzyme Finance ($MLN)<\/h5>\n\n\n\n<p>Enyzme Finance ($MLN) has been forming a long consolidation pattern after pulling back from the highs of a big rally a few weeks ago.<\/p>\n\n\n\n<p>$MLN has broken out above short-term resistance of its downtrend line, and we are now stalking it for potential buy entry above the high of its recent range:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/MLN082321.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/MLN082321.png\" alt=\"\" title=\"\"><\/a><figcaption><em>Press to view full-sized image<\/em><\/figcaption><\/figure><\/div>\n\n\n\n<h5 class=\"wp-block-heading\">Loopring ($LRC)<\/h5>\n\n\n\n<p>Loopring ($LRC) was a huge mover last week, exploding more than 40% higher on August 2.<\/p>\n\n\n\n<p>With such a strong move, $LRC may need a bit of time to digest its recent gains.<\/p>\n\n\n\n<p>However, Loopring is already on a pullback, as the 10-MA on the 4-hour chart rising up to provide short-term support.<\/p>\n\n\n\n<p>Rather than listing a pre-set buy price in the Watchlist, we prefer to monitor the price action in the coming days to wait for a low-risk buy entry based on the price action.<\/p>\n\n\n\n<p>As always, <strong>we will post an Intraday Trade Alert in the chatroom<\/strong> with exact entry and stop prices if $LRC meets our criteria for buy entry:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/LRC082321.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/LRC082321.png\" alt=\"\" title=\"\"><\/a><figcaption><em>Press to view full-sized image<\/em><\/figcaption><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Crypto_Commentary\"><\/span>Crypto Commentary<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ethereum_now_poised_for_a_potential_breakout_above_the_highs_of_its_range\"><\/span>Ethereum now poised for a potential breakout above the highs of its range<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Bitcoin ($BTC) and Ethereum ($ETH), as proxies for the overall health of the market, continue to exhibit healthy price action.<\/p>\n\n\n\n<p>Ethereum led the way higher on the initial rally off the July lows, then momentum shifted to a bit of relative strength in Bitcoin during the multi-week consolidation.<\/p>\n\n\n\n<p>However, as of the past two days, $ETH is again starting to show signs of leadership and relative strength.<\/p>\n\n\n\n<p>While Bitcoin faded back below the 50k level earlier today (August 23), Ethereum held in a range near its recent highs.<\/p>\n\n\n\n<p>On the daily chart below, notice that $ETH is now poised for a breakout above the high of its 2-week consolidation and resumption of its uptrend:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><a href=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/ETH082321.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/www.morpheustrading.com\/~rick\/\/charts\/2021\/ETH082321.png\" alt=\"\" title=\"\"><\/a><figcaption><em>Press to view full-sized image<\/em><\/figcaption><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Model_Portfolio_Report_Card\"><\/span>Model Portfolio Report Card<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Closed_Trades\"><\/span>Closed Trades<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>The altcoin market continued to perform well last week, enabling us to score wins on 6 of 8 closed trades and a <strong>total weekly Model Portfolio gain of +6.6%.<\/strong><\/p>\n\n\n\n<p>We locked in a <strong>+31% gain on another $ADA trade, +23% gain on $MATIC, and +8% gains on both $ETH and $WAVES<\/strong> swing trades. <\/p>\n\n\n\n<p>There were two minor gains (less than +1%) in $OGN and $KAVA, along with two losses of less than 5% on both $COMP and $YFI.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Open_Positions\"><\/span>Open Positions<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Six of seven open positions are currently showing a profit, led by solid gains of approx.<strong> +29% in $TEL, +22% in $ACH, and +17% in $QNT.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Announcements_Crypto_Trading_Webinar\"><\/span>Announcements: Crypto Trading Webinar<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>We are currently planning an upcoming <strong>Crypto Trading Fundamentals webinar to be held in late September<\/strong> (further details to be posted here on the blog).<\/p>\n\n\n\n<p>The webinar is designed to quickly get a stock trader up to speed with all the important things to know when trading crypto.<\/p>\n\n\n\n<p>Topics will include choosing a crypto exchange, building a crypto watchlist, and many other nuances to help you efficiently and properly get your crypto trading operations up to full speed.<\/p>\n\n\n\n<p>If there any specific topics you would like to see, drop us a line in the comments below.<\/p>\n\n\n\n<p>Finally, we are off to a fantastic start with a net gain of approx. +10% in the MAST (Morpheus Alpha Swing Trading) crypto fund, which we opened for select investors two weeks ago.<\/p>\n\n\n\n<p>We still have a few openings left in MAST crypto fund. <\/p>\n\n\n\n<p>Please e-mail <a href=\"mailto:editors@morpheustrading.com\">editors@morpheustrading.com<\/a> to request your <strong>free trial membership to Morpheus Crypto Pro until September 1, 2021<\/strong> or for further details on MAST.<\/p>\n\n\n\n<p>As always, be sure to honor your stops and <em>trade what you see, not what you think!<\/em><\/p>\n\n\n\n<p>Deron Wagner, PhD (h.c.)<br>Founder @ Morpheus Trading Group<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/twitter.com\/mtg_crypto\" target=\"_blank\" rel=\"noreferrer noopener\">Follow Us<\/a> on Twitter.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The following timely and actionable crypto trading commentary was originally published in the August 23 issue of Morpheus Crypto Report. We start with a quick chart walk-through three top swing trade setups to add to your watchlist now, then share a quick update on our current positions in the Model Portfolio. If you like what [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[772],"tags":[],"class_list":["post-8932","post","type-post","status-publish","format-standard","hentry","category-crypto-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/8932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=8932"}],"version-history":[{"count":5,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/8932\/revisions"}],"predecessor-version":[{"id":8942,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/8932\/revisions\/8942"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=8932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=8932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=8932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}