ATOM looks like its building out the right side of its base just underneath the ATH. This has been one of the 2021 laggard L1s that I think will play catchup do very well this year. Would like to see a bit more consolidation on declining volume as selling pressure dries up and gets absorbed.
Currently, $9bn market cap w/100% supply circulating
Market cap of some...
CRV showing huge relative strength in the market today on a significantly red day for both crypto and stocks.
USD and BTC pairs both look great. On the chart, we have CRV re-testing the breakout and looks primed to hit the next resistance zone 3-4x higher from here.
Think this will be one of the strongest performers in the next 1-3 months. Research Curve wars
Weekly chart to cut through the daily noise. Notes on the chart.
Other Key points:
✅ DeFi basing >1 yr, looks bottomed
✅ YFI best chart in sector - broke downtrend already and making HHs and HLs from bottom
✅ Deflationary tokenomics (recent change). "Ve" token narrative tailwinds - $45m/yr buybacks & lockups
✅ Room for mulitples on your money given only...
YFI huge squeeze off the bottom and currently consolidating the move. Showed huge relative strength in this crypto correction. DeFi seems to be receiving much of the current inflows of capital and YFI has the best chart in the sector. Buy the leader.
Recently, the platform implemented a new token model which includes buybacks and a step-up in rewards for token...
Today, the Fed released their "Fed Minutes" and showed they're planning on acting more hawkish than everyone previously thought. The market sold off hard, with growth taking the biggest hit for obvious reasons.
Looking at ARKK and a bunch of other growth names, it appears that we're in the semi-early innings of a stage 4 markdown if the Fed continues down this...
ALGO was one of the L1 laggards of 2021, along with ATOM. I believe these two play catchup to SOL, AVAX, LUNA, etc. in Q1 2022.
Undercut the local lows for some liquidity and swinging back around into the range. Forming a mini flag and looks like it wants to breakout soon towards $2-2.10 which is the major resistance area.
Given we've already had a failed move,...
MATIC weekly view cuts through a lot of the noise and shows a solid ascending triangle breakout and quick retest. Looks like stage 2 continuation as depicted on the chart (text & diagram)
If volume picks up like Feb & May, we could easily see continuation to much higher highs
MATIC forming a wedge pattern right on the 21 day. Think this breaks out to the upside if BTC can recover.
A little bit of profit taking and rotation into laggard L1s occurred but seems pretty mild so far. Volume/selling pressure has died down over the last several trading days.
MATIC still has one of the best charts in crypto atm
Nice move off the bottom along w/ the other #DeFi names. Looking for this to continue towards next resistance and follow YFI higher. Market cap is relatively small at $3.5bn w/ 85% supply in circulation already. Ability to make multiples on your money over coming months.
Q1 likely to be a big quarter for #DeFi, which suffered in 2021. New capital flows clearly...
AVAX showing relative strength the past few weeks and putting in a medium-term inverted H&S or near-term flag.
Volume has been declining on this consolidation and price is currently retesting the 21/50 days. If BTC can hold here, think AVAX can launch higher over the coming days and weeks into price discovery
MATIC forming a series of HHs and HLs. Despite the recent pullback, MATIC just retesting the breakout here and looks primed to squeeze into price discovery in coming days (if Bitcoin can hold here). Hidden bullish daily RSI divergence as price made slight higher low and RSI made a lower low.
2021 has been a huge year for MATIC as its been one of the top 5 best...
FIL had a huge run at the beginning of 2021. Not sure what happened but I guess the market deemed it was way overvalued.
Now it looks like it's trying to round out a bottom as it recently swept the prior lows. Bullish daily RSI divergence in play. Levels are on the chart but could be a pretty big swing trade in coming weeks
Tesla recently broke out of a long consolidation and is now basing above the prior ATHs. Volume is declining, which should continue until we get a number of below average volume days.
Given the next catalyst is likely the Q4 deliveries number to be released probably January 3, 2022, it's likely that TSLA consolidates and tightens up until then. I expect a beat...
MATIC forming a 6 month ascending triangle base and looks ready to breakout in the next couple weeks. RSI has been reset and price is above all moving averages. Bitcoin pair looks like its bottomed as well. We all know this thing can rip.
Based on the significant amount of activity on the MATIC platform and its strong community, it's reasonable to think this...
MANA has had very clear technical patterns the past couple weeks. Couple. flag breakouts and all the up days have much bigger volume than the down days. Keep it simple.
More recently, we got a low volume retest of the mini flag breakout w/ big volume coming back in today to the upside. Still holding above the 8 day signals strong momentum and relative strength as...
CGLD / CELO consolidating into a large ascending triangle. Finding support at the confluence of the 21/50 days and trend line support. Volume has been drying up until today on this up move.
1.618% Fib extension is to $25, which seems crazy but a handful of names have been ripping like this. With a market cap of $2.2bn, doesn't seem unreasonable from a size perspective
Massive move w/ Metaverse coins taking off following Facebook news. Flag consolidation w/ volume drying up (selling pressure subsiding) and hidden bullish RSI divergence.
Additionally, RBLX, a metaverse stock, +34% to hit ATHs today which gives the Metaverse continued momentum. CEO is on CNBC tonight.
Think the animal spirits reawaken soon and we breakout to...
Forming an ascending triangle beneath key resistance (cup and handle in the medium term). Think this makes a breakout attempt this coming week.
Some mid/small caps on Coinbase have been catching fire recently