Actual Trading – Market Update
April 16th, 2019
Actual Trading Announces Crypto Targets at 12 pm ET on April 16th, 2019.
We remain short and medium term neutral with a bias to unwinding longs at BTC 5,100 and ETH 164.
Market looked to extend downside over past few days with several large orders that overwhelmed liquidity. Levels held and now other traders are looking to walk prices higher. Given that trades on both sides of the market seem geared to move prices more than actually accumulate or liquidate substantial amounts, the likelihood that a trend develops has a lower probability.
We view the push higher to 5,100 and 164 as an opportunity to sell out long positions. While this move higher only began today and has the potential to work to higher levels, we tend to look at it as a chance to turn and fade the move with modest amounts from 5,100 to 5,300 and 164 to 167. We would sell more aggressively only from significantly higher levels (5-10%). Small shorts established at these levels and slightly higher are to position for a 3-5% push lower if the buying abates. Positions are small given we think at some point the upside will take hold but we do not see that in the picture yet.
David Reich | Head of Actual Trading
DISCLOSURES: This Commentary is for informational purposes and does not constitute investment advice, any type of recommendation or an offer to sell or a solicitation to purchase any securities from the Actual Trading or an entity organized, controlled, managed by or affiliated with Actual Group, LLC (“Actual Group”). Any offer or solicitation may only be made pursuant to a confidential private offering memorandum which will only be provided to qualified offerees for careful review prior to making an investment decision. We aim to educate, report and/or opine on certain developments relating to the digital asset market. These are our subjective views, based on information and sources we believe to be reliable as of the date we publish, but we make no representations or warranties with respect to the accuracy, correctness or completeness of our opinions or any information herein and have no undertaking to update it. Please do not rely on it.
Actual Group and/or its affiliates and personnel have made investments in some of the assets or instruments discussed here, and may in the future make additional investments (long or short) in such assets or instruments without further notice. Actual Group does not, here or anywhere, provide accounting, legal or tax advice, or make investment recommendations. Please do not rely on us for the foregoing. We strongly suggest that prospective investors seek independent advice with respect to any investment, financial, legal, tax, accounting or regulatory issues discussed herein. Certain information contained in this Commentary constitutes “forward-looking statements,” such as statements that include the words“may,” “will,” “should,” “expect,” “anticipate,” “target,” “project,” “estimate,” “intend,” “believe”. There are so many risks and uncertainties that actual events or results or the actual policies, procedures, and processes of Actual Group and the Actual Trading and the performance of the Actual Trading may differ materially from those reflected or contemplated in such forward-looking statements. Please do not rely on forward-looking statements. Past performance is not necessarily indicative of or a guarantee of future results.