Cronos breaking out in Bitcoin value, this shows strength towards CRO buying power priced in CRYPTOCAP:BTC and it will likely be trending toward the upside over the next few weeks.
Cronos produced more than 1,000% (10X) in its 2021 bullish wave and there is possibility for something similar this time around.
In this chart we can see the 2021 bull-market on the left side and going from left (Feb. 2021) to right (June 2023) we have a long-term higher low.
Here you can see a very strong bullish divergence with the MACD, the same signal...
On the left we an see price hitting 0.5 fib which has been previously seen as a support area, also aligning well with the green uptrend line
On the right the Gaussian Channel indicator shows the middle band as a point of support, price on this BTC pair is just above this Middle Band right now
Expectation based on historical analysis is that Cronos will oscillate against BTC, scenarios:
1. either BTC to rise in value
2. or Cronos to drop in value
so that proportionally Cronos to fall below the long-term trendline.
BTC is acting as a strong resistance level for CRO. In order for the breakout to occur, CRO should break out the long-term converging channel -- otherwise, it is smarter to buy just BTC instead of CRO.
No financial advice.
CRO may be forming a 300 days converging channel. Be patient.
Super stressful accumulation period may be coming.
Short-term
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- SuperBowl expectations may be too low or too high
- Launch of Crypto.com Exchange US, unexpected results
No financial advice.
Last time, we had 87% drop against BTC with CRO. Historically, it is more probable that either CRO will drop or BTC will rise proportionally more against CRO.
- is this behaviour an anomality or is it because Crypto.com can control and affect CRO the most?
- no support with moving averages (illustration with 100W MA)
- volume not increasing
- if CEO remarks is...
Altseason is somehing predicted and expected, #CRO could be a major benefiter.
- The volume of #CRO is not yet on the level I would expect for the explosion
Be patient. This can change very quickly!
Not financial advice.
BITTREX:CROBTC is on a descending triangle on the daily taking us down to 700 Satoshi. We haven't broken the triangle downward yet, so the trade is not confirmed. We might still bounce off the top of the triangle in the next two days before breaking it downwards.
We are currently in the land of none: there are multiple scenarios that may occur.
++ US Exchange listing may break the up and cause Bull run
--- but if the expectations are not met, then we may end up to lower support bands.
--- volume is deteriorating
Currently we are falling against BTC so this looks like bearish for CRO, monitor intermediate time-frame RSI...
CRO has intermediate RSI indicators above 50 and Price Point Momentum oscillator Green with positive volume in long-term, the RSI indicator now broke overbought zone.
Historically, last time this happened the bull run lasted about 100 days followed a massive drop.
Monitor RSI indicators before executing any trade!
No financial advice.
One of the worst scenario is that Crypto.com in unable to find new applications for CRO in which case we can lose 95% of the value against BTC.
It all depends on how well Crypto.com is able to utilise the Crypto market potential, execute new products and how well attract new customers, particularly organically.
Currently, the new audience from organic channels...
I have no simple answer to this:
1. if mass adoption continues as explosive as 2021Q4, it can beat BTC in which case the valuation can be extraterrestrial.
2. If mass adoption gets hindered and crypto will regularised, banned, then the prospects are minor.
3. Scenario: something inbetween?
It is as important for an utility coin to find new users as to find...
Historical overview to CRO against BTC:
1. CRO acts as oscillator against BTC, this is a good thing.
2. bull runs can be very short or long
3. over extensions are quite common in both directions
No financial advice.
Intermediate timeframe RSI indicators rose above 50, this may be a bullish signal, let's see how long this will last.
Check RSIs in different timeframes to investigate this.
No financial advice.
With CRO vs BTC, I'm expecting a bullish breakout of the Falling Wedge. Having said that, there's also Bearish Divergence on the daily chart so I'm expecting a short-term cooldown, perhaps to the 1D 50 EMA, before ultimately breaking the wedge.
Sidenote: Price action on CRO over the last three years looks heavily manipulated (more than most, anyway). Be...
