Confirmed bottom - I'm now saddled up & longing my LONGS.
The past fortnight crypto markets in general has been bearish despite On-Chain data being very bullish. S&P 500 is now officially in a down trend ( lower lows and lower highs), this could change though if the money printer starts brrr again.
Despite all this uncertainty in the markets, today has been incredibly green with some coins being up 30%. We have also seen DERC react off a confirmed bottom support with a massive green candle.
DERC's $2.50 had many confluences, it was being a point of control, also a known daily level and a 0.618 fib level.
The DBSI is now very bullish showing -3 / 15 & the other indicators agreeing which is tells me that we had much more upward potential here. There's also lots of goods news coming out, with DeRace releasing their NFT marketplace in 2 days which means users can purchase horses with the native token DERC. This should complement the price by increasing the buying pressure and taking circulating DERC off the market by locking it up in Horses.
With all this bullish info, I'm expecting the next time we reach the highs of $4.20 we will break through and reach $5.20 in the short term. So we better hope that happens before the next big token unlock from DeRaces DAO.
I'm still keep on alert though for some volatility around this area as we are currently sitting under a resistance level & have pumped 30%+ today alone. The crypto market in general could have a correction so its always wise to take profits... especially if you have been accumulating at $2.50 like I have been. If it keeps heading up like I think it will, then so be it!
There's my thoughts.
Thankyou 🐎🚀
Taz
Despite all this uncertainty in the markets, today has been incredibly green with some coins being up 30%. We have also seen DERC react off a confirmed bottom support with a massive green candle.
DERC's $2.50 had many confluences, it was being a point of control, also a known daily level and a 0.618 fib level.
The DBSI is now very bullish showing -3 / 15 & the other indicators agreeing which is tells me that we had much more upward potential here. There's also lots of goods news coming out, with DeRace releasing their NFT marketplace in 2 days which means users can purchase horses with the native token DERC. This should complement the price by increasing the buying pressure and taking circulating DERC off the market by locking it up in Horses.
With all this bullish info, I'm expecting the next time we reach the highs of $4.20 we will break through and reach $5.20 in the short term. So we better hope that happens before the next big token unlock from DeRaces DAO.
I'm still keep on alert though for some volatility around this area as we are currently sitting under a resistance level & have pumped 30%+ today alone. The crypto market in general could have a correction so its always wise to take profits... especially if you have been accumulating at $2.50 like I have been. If it keeps heading up like I think it will, then so be it!
There's my thoughts.
Thankyou 🐎🚀
Taz