I think we are likely to see a massive move down in DeFi names, the contract issued by FTX is a nice way of riding the eventual move down, which can be magnified if we get some large protocol issue, or some unexpected black swan event causing a cascading decline of epic size as a gigantic levered bubble bursts. It is likely the best short in crypto, to profit from...
On the USD pair (left) three breakout attempts including current can be identified, the current one presents a nice bullflag to buy into on this daily timeframe
I dont have much to say about the BTC pair
DEFI TOTAL looks extremely bullish as it sits above this yellow long term trend line and post moving out of a rising wedge that will end up playing in the bullish favor
Triangles like this have been seen before and are in green
Bad news for people holding defi coins/tokens.
The markercap of DeFi coins/tokens (TOTALDEFI) is looking weak vs USD and BTC.
Some serious corrections likely on the line as we observe some relevant trendlines being broken.
This chart represents a basket of top DeFi projects. DeFi tokens are down bad from their bull run highs, but seem to be bouncing off an area of previous accumulation / support.
Will we get a bearish retest of the 200SMA? This would amount to a ~30% pump for DeFi.
Bitcoin or ETH could easily steal the show, but perhaps worth keeping an eye on!
SNX is stuck in a massive 6-month long falling wedge against the DEFIPERP index and it looks like it's gearing for a breakout.
I marked some areas of interest where I will be looking to rotate out of SNX in between cycles.
It's hard to estimate when such targets could be reached however. Certain catalysts, like the futures launch, could send it flying in a short...
After 2 failed attempts and a fake out, DeFi Perp has broken through its macro downward sloping trendline, backtested for confirmation and currently finding support from its 12 day MA. 2 horizontal lines of resistance before DeFi Perp challenges the ATH.
After a long time of consolidation, the ZRX is in a troublemaker which, due to the continuation of the bull market, will be broken upwards, which is additionally confirmed by the MACD and RSI chart.
In my opinion, as soon as new capital flows into BTC and BTC's dominance stops growing, we will see a fourth wave of growth on Alt coins.
The first stop of the new...
Hi everyone, i not post often but when i do, if you follow me u know it, is because i think that my word worth, and my money and yours worth too.
Today we analyze BOND. Bond is a DEFI CRYPTO TOKEN, use in BARNBRIDGE BLOCKCHAIN, that would help traders to discorve defi-crypto average levels of risk, and returns, that they would assumere. In a few words others...
What is this chart? Essentially, it shows the performance of SNX vs an index of 25 Defi coins, such as LINK, SOL, CRV, etc.
We're looking at a few things:
First off, it's clear that SNX has massively underperformed the DEFIPERP index as a whole. With some rare, short-lived exceptions, it's been in a downtrend since Jan 2021. Second, notice the rounded bottom....
My expectation is that Defi is going to run hard for 2-3 more months until the EOY.
As you can see from the previous cycles, this one again seems to go parabolic, albeit long term as Defi hype dies down and gets replaced by the new flavour of the year, cycles will become longer and weaker until no longer relevant.
Don't marry your bags.
PS: This is not financial advice.