Cosmos has a nice setup here, and as a bonus it yields 20% or so if staking on-chain. (plus the chance to get airdrops that might be worth between $0 and who knows how much each time) The daily trend points to a steady rally until Feb 15th or so, depending how high it goes, this could evolve into the monthly trend being valid and upside to $27+ opening up over time (within 6 months). Seems like a nice setup to ride a potential resurgence in crypto, with a small speculative position. Best of luck!
Cheers,
Ivan Labrie.
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Similar pullback into support across the board, the ball is in the market's camp now...outcome depends on what happens when CME futures open, particularly with #ETH. Worth waiting.
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Similarly here, oversold and turning up intraday, daily has time to go higher over time so I hold.
One thing to consider with ATOM is the 21 day unbonding period for staked coins. When the price spikes, people rush to unbond their staked coins which they then dump on the markets 21+ days later. Ofc many will be late to this and the effect will be delayed over time but it can still be noticeable.
You can sort of see it here too. Jan 9th spike is coupled with a dump on Jan 30th, Jan 14th spike with small dump on Feb 4th, Feb 1st spike with dumps around Feb 21st etc.
IvanLabrie
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@TracksuitTrader good observation, similarly to some high dividend stocks, there's a sell off after they go ex dividend each quarter. and it's normally good to buy after that and exit before the ex dividend date. of course you need to do due technical diligence to buy.
behdark
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You are doing well,thanks
IvanLabrie
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@behdark thanks, it's setting up, I like the way it's coiling near the highs, tomorrow could see a confirmation trigger in multiple coins (and BTC and ETH of course)
TracksuitTrader
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I'm incredibly bullish on ATOM and the whole Cosmos ecosystem long term. It's probably the most easy to use of all interchain systems with low fees and extensive contracts, already has lots of coins with actual use cases and genuine communities building around them. One of the few smart cryptos that are newbie friendly and actually fun to use, something I think shouldn't be overlooked.
IvanLabrie
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@TracksuitTrader, yeah it definitely has interesting potential and for now it is an underdog but gradually gaining traction.
TracksuitTrader
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@IvanLabrie, Definitely. Cosmos eco growth has been pretty organic and it has largely reached independence from CEXs like Binance too. A rare example of chains where web3 vision is being realized as we speak.
pirszh
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@TracksuitTrader, It's DPoS based bullshit man. It has no future as well as the other "interchain" systems.
SwallowPremium
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Such an interesting overview! When will you enter the position?
IvanLabrie
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@SwallowPremium, I bot a small position to be involved with it, and staking it. Has to be super small to hold it long term, like 1-2%. I am having second thoughts regarding the broad market here though, but for now I'm in (staking has a delay of 21 days to stop it and sell anyways)
You can sort of see it here too. Jan 9th spike is coupled with a dump on Jan 30th, Jan 14th spike with small dump on Feb 4th, Feb 1st spike with dumps around Feb 21st etc.