Just looking at the formations, seems a bull flag looks a bit like a small inv head & shoulders. Measuring it out, if it plays to the top of the H&S, and the previous top becomes support then the bull flag plays out .. here are the targets and potential 50% gain (assuming it stops going up there).
I like:
- It has recently been moving positively in dollars even when BTC is moving negatively in dollars. (Meaning it's not just gaining in BTC terms, but in real terms).
- I really like the potential lbry.tv platform, and in terms of fundmentals it checks all the boxes people leaving youtube have been asking for. Recently some larger youtubers have moved to it, or at least duplicated their videos there, expanding its user base.
- As youtube continues to kick popular creators off their platform, those people will go somewhere. Over the long term only LBRY and Bitchute seem like viable free services without censorship concerns.
I don't like:
- It's a small cap, $8.8 million, which could be why it's able to counter-trend against Bitcoin, but also lends toward market manipulation.
- It's only on a few markets, primarily Bittrex and VCC Exchange with Coinmarketcap reporting only about $140K daily volume at the moment .. and obviously I'm worried about wash volumes at those levels.
- On the fundamentals side, although some bigger youtubers are paying attention (those with +500K subs) it seems to be more of a backup and there doesn't seem to be much original viewership going on there yet. - although again, that could change any time with another wave of bannings.
I like:
- It has recently been moving positively in dollars even when BTC is moving negatively in dollars. (Meaning it's not just gaining in BTC terms, but in real terms).
- I really like the potential lbry.tv platform, and in terms of fundmentals it checks all the boxes people leaving youtube have been asking for. Recently some larger youtubers have moved to it, or at least duplicated their videos there, expanding its user base.
- As youtube continues to kick popular creators off their platform, those people will go somewhere. Over the long term only LBRY and Bitchute seem like viable free services without censorship concerns.
I don't like:
- It's a small cap, $8.8 million, which could be why it's able to counter-trend against Bitcoin, but also lends toward market manipulation.
- It's only on a few markets, primarily Bittrex and VCC Exchange with Coinmarketcap reporting only about $140K daily volume at the moment .. and obviously I'm worried about wash volumes at those levels.
- On the fundamentals side, although some bigger youtubers are paying attention (those with +500K subs) it seems to be more of a backup and there doesn't seem to be much original viewership going on there yet. - although again, that could change any time with another wave of bannings.