There has been a lot of talk about cryptocurrency and crypto penny stocks over the past year.
Check it out … In March 2020, Bitcoin (BTC) was trading for around $ 7,000. Once in March 2021 people were paying over $ 61,000 a coin!
I used to think cryptocurrency was just another fad. But recently, large-cap moguls like Tesla are buying Bitcoin worth billions. I may have underestimated cryptocurrency, but there is no need to emphasize.
Hot cryptocurrencies can create hot crypto penny stocks. Some traders refer to these runners as sympathy games and you should study them.
Penny stock sympathy games can feature some of my favorite trading patterns.
Keep in mind, however, that these stocks tend to respond to the performance of the industry leader. For cryptocurrency this is BTC. So if the price of BTC goes down, some of these runners could probably do the same thing.
You can learn how to trade crypto penny stocks. Start by studying and making a watchlist. I started one …
Top Crypto Penny Stocks To See
Keep in mind that some crypto penny stocks only run when large tokens like BTC hit new highs or recover from a sharp drop in prices.
With this in mind, many Crypto Penny stocks are currently in a consolidation phase.
This is because Bitcoin is also consolidating. And these stocks can sell more aggressively than actual cryptocurrencies. That’s because many buyers are not confident about holding penny stocks for the long term.
That’s smart – and the kind of mentality comes with the territory. This is one of the reasons I look for quick movements when trading. I want to get on and off and keep my risk as low as possible.
If cryptocurrency continues to grow at this rate, these crypto stocks could offer us great opportunities in the future.
Note that this list is just a watch list. This is in no way a recommendation to buy or trade. Always do your own research. And only trade a stock when you have a plan that fits your setup.
Crypto Penny Stock # 1: MGT Capital Investments, Inc. (OTCQB: MGTI)
MGTI is a fairly popular stock that is traded OTC. It had a nice breakout around 5 cents as BTC hit new highs.
It has sold since Bitcoin was withdrawn, but I think there could be room for a possible dip. I’ll be on the lookout for any major BTC news or possible new highs.
This one can move quickly so I’m not going to chase it. If I miss the entry, I’ll be strict and look for the next best opportunity.
Crypto Penny Stock # 2: LM Funding America Inc. (NASDAQ: LMFA)
There are a few things to like about LMFA …
One is that it consolidates in the low $ 1 range, and I love inexpensive penny stocks. Second, the Nasdaq trades instead of the OTC markets, which can mean better liquidity.
This also means, to some extent, that it could be more legitimate than OTC blockchain companies. But all of this could be meaningless without the dynamism of the sector. I want Bitcoin to take a big step before planning a trade.
Crypto Penny Stock # 3: HIVE Blockchain Technologies Ltd. (OTCQX: HVBTF)
One thing immediately strikes me when I look at a daily chart? Minimal overhead resistance.
The HVBTF is consolidating well above most of the previous resistance from 2017. If the big tokens generate momentum it could potentially lead to a nice breakout.
And when the recent resistance is over, who knows where it might lead next.
Crypto Penny Stock # 4: Digitrade Financial Corp. (OTCPK: DIGAF)
I usually don’t like trading sub-penny stocks. But DIGAF consolidates around 1 cent and has been a nice multi-day runner in the past. I think it’s worth putting on the list.
When I see this graph, I can’t help but think of “bounce”. DIGAF is approaching a possible support from the last run. Let’s see if it can hold up.
If the market warms up and DIGAF has a massive first green day, I would consider being more patient with it. If there is to be another multi-day run, I’ll probably want to be involved.
Crypto Penny Stock # 5: BTCS Inc. (OTCQB: BTCS)
The story here is similar to some of the others. BTCS is a former OTC runner that is currently consolidating near $ 1. It is more directly tied to Bitcoin than any other token.
It looks like a large wedge may be forming on the daily chart, indicating that it is finding support.
This was another aggressive multi-day runner. I will be looking for the same type of price action in the future.
Crypto Penny Stock # 6: Bitcoin Services Inc. (OTCPK: BTSC)
This daily chart is one of the less attractive of the group. It mostly looks like a failed breakout, but attention to detail is key.
When BTSC had its last break above 12 cents, there wasn’t much volume. And the entire sector began to withdraw.
For these reasons, I think there could be more potential in the future. I will definitely keep an eye on this one.
Crypto Penny Stock # 7: Blockchain Industries Inc. (OTCPK: BCII)
This youngest runner went from 50 cents to $ 2.50 in a matter of days. Now on a daily chart, BCII is holding well near 90 cents.
After recovering from the big sell-off in February, it traded in a very narrow channel. That could mean fewer salespeople.
If it consolidates like this it could be a great game. It is definitely worth a watchlist.
Crypto Penny Stock # 8: Neptune Digital Assets Corp. (OTCPK: NPPTF)
Unlike some other watches, NPPTF didn’t give much back after climbing from around 38 cents to $ 1. It now consolidates around 71 cents.
If NPPTF finds its level, it could potentially move ahead of a few other stocks on this list.
If it breaks above the $ 1 high, the sky’s the limit.
Crypto Penny Stock # 9: AirNet Technology Inc. (NASDAQ: ANTE)
Here’s another Nasdaq ticker for all the liquidity dogs. In February, the price was between $ 2.50 and $ 7.
AirNet Technology is a China-based internet service provider, but they recently got into cryptocurrency.
This is the first year that ANTE has attracted attention. I think it needs to be further consolidated and a level of support created. But if we get a certain dynamic in the industry in the future, I will keep an eye on this.
Crypto Penny Stock # 10: ZW Data Action Technologies Inc. (NASDAQ: CNET)
CNET is another publicly traded stock making its way into the blockchain industry. It’s been an impressive runner this year, going from $ 1.50 to over $ 6.
I love former runners. You can make buyers expect that what happened before may happen again. And that can become a self-fulfilling prophecy. However, you need to be ready with a plan.
When we get breaking news in the crypto world, this stock is waiting on my list.
See the stocks that I watch
I want to help you as much as possible, so I am offering a FREE watchlist.
Can you find Crypto Penny Stocks on my list? Depends on. I go where the hottest market action is.
Subscribe to my weekly watchlist to see what makes the cut. Every week I round up my top watches and send them to you. Use these stocks to examine the trading patterns, catalysts, and price movements. Then create your own trading plan.
Know that I do not recommend that you trade the stocks on my watchlist. There is no guarantee that I will trade these stocks. I just look at them for possible future setups.
Never blindly follow warnings or hot tips. Ever. Do your own research. Your goal is to gain trust at some point your own Trading plan.
If you’re looking for hot crypto penny stocks, keep this in mind …
These stocks tend to move together at the moment of the sector. Don’t jump into these stocks until the markets give you a reason.
And keep your goals reasonable. Don’t swing at the fences. Destination for singles.
Keep an eye out for important news in the cryptocurrency industry. These stocks are unlikely to run without a catalyst.
Learn to be patient and wait for your best attitudes to come to you. This is what I teach in my Trading Challenge. If you want to become a self-sufficient dealer, you should apply today.
What do you think of crypto penny stocks? I would love to read about it in the comments!