Not much to trade today. There is lots of red on the board; however at 8AM nothing is down significantly, so we wait.
The Fed ends day 2 of the FOMC meeting. My expectation is that Powell makes a statement that says they are still not worried about inflation, which will send shockwaves across all markets. The 10y will rise more than it has already (currently it is at 1.66%), crypto and equities will sell off. That is when we want to start watching for some good opportunities.
In other news, Cardano ($ADA) is going to be added to Coinbase Pro starting on March 18th. That should send Cardano to new highs. I have placed a trade in that at $1.24. Since then it has been ranging between $1.21 - $1.28. I am anxiously awaiting the opening for trading tomorrow.
I am still in that trade. Just like most of the other cryptos, it has not made a big move yet.
GRT - The Graph
We got into $GRT yesterday at $1.65. As of this writing, it is $1.68. I expect it go to the $1.80 range, maybe higher. If the Fed gives a hint of news that the market likes, I think it will easily hit the $1.80 as cryptos will soar. However if the Fed gives hints to doveishness, it will be a slow climb to $1.80
UPDATE 1 19:00hrs
ADA is on fire!!! It hit $1.44 before retracing a little bit. Tomorrow is going to be spectacular, thanks to Coinbase & The Fed. I am really thinking $2 ADA is going to be a reality tomorrow.