gregoirejohnb

gregoirejohnb

NFT summer was great and all, but the rug got pulled and most of those JPEGs crushed peoples' accounts. BTC is back on track again, leading both BTC.D (Bitcoin vs Altcoin dominance) and ETHBTC for the first time in a long time. BTC performs better in sideways and bear markets than altcoins (even ETH). BTC has been ranging for a few months now, but is showing...

gregoirejohnb

ETH finishes August with a brutal sideways, but several technical achievements passed: EIP 1559 upgrade EVM becoming THE standard for blockchain development (every new chain is EVM compatible so devs only have to learn 1 language) Fixed GETH bug that split the ETH chain yesterday NFT explosion Basically, the ETH chain kept running smoothly while a bunch of...

gregoirejohnb Updated 

I hate summer. Other people love the warm days, but I hate the low volatility. Look at that sideways garbage, it makes me sick. We have to break this range sometime, and I say it should be now. Longing ETH is better than longing BTC. Why? Since the market is highly correlated (where BTC goes, the rest of the market follows), you want to ride the fastest horse....

gregoirejohnb

Summer is usually a low volatility time in the markets and this summer was no different. The success of ETH's EIP-1559 upgrade and the crypto communities JPEG summer enthusiasm propelled crypto out of the gutter. However, BTC has been testing the lows and they look a bit soft. The range contracted at the highs, and now we have range expansion into the lows. As...

gregoirejohnb

1) "Sell in May and go away", an old trader saying, played out yet again with ETHUSD falling from 4400 to 1700 in epic fashion. 2) The retest of the lows held and price went to retest the highs... 3) ...which also held due to normal summer month sleepy markets. However, when price tried to retest the lows again, it didn't make much progress! 4) The range expands...

gregoirejohnb Updated 

China banned Bitcoin for the 1,234th time in the past five years, sending the market below 30K. Thankfully, dog coin holders got crushed in karmic justice for buying scams. As shown above, the system avoided a 25% drop in the market but is now showing range expansion to the upside. It's still the summer months, so the market will probably crab sideways for a few...

gregoirejohnb Updated 

As you can see from the chart, the past month has been choppy with little trending. Neither bull nor bear, just crab. The range expanded to the upside, but I don't expect too much in the low volatility summer months, even on the news that El Salvador legalized Bitcoin. Still, we have to take the trade as you never know when the large ones will happen. Entry:...

gregoirejohnb Updated 

Summer months suck for volatility in most markets, but LINKUSDT is back into an uptrend when the range expanded to the upside today. LINK is a great project that provides useful services: connecting different blockchains together as well as providing oracle data (real-world data to the chains). Stats are from 1/1/2020 to current using ~2% risk. Entry:...

gregoirejohnb

1) SUSHI entered a small uptrend a week ago, but couldn't sustain it with the rest of the crypto market dumping. 2) SUSHI hugged the downside for a bit, but nothing crazy like the BTC dumping hardcore. This is a sign of strength. 3) Volatility declined, which is normal in the summer months. 4) The range expanded to the upside, triggering another uptrend. Stats...

gregoirejohnb Updated 

It's been an exciting few weeks, hasn't it? There was an impulsive move down on May 12 that signaled the uptrend was at an end. "Buy the dip" and "diamond hands" people encouraged you to buy aaaaaalllll the way down, didn't they? Not me. I've been standing aside waiting for the drops to stabilize. And they have. The trading range expanded to the upside this...

gregoirejohnb

While ETH may fix their ridiculous gas fees in the near future, the upgrade is still many months away. In the meantime, BNB with Binance Smart Chain's low fees and Pancake swap have overtaken the DeFi space. BTC has been going sideways for months now, but looks like it may break out soon. Alt season has been raging, and I hope you didn't miss your chance. Stats...

gregoirejohnb

BTC has been going sideways for about 3 months now, but it's slowly showing signs of life. It has been alt season in the meantime, but that might be over too: BTC.D flipped to an uptrend. That means BTC is going up faster than alts. We have range expansion to the upside in the past few hours. The weekends are times when volume is lower and there can be more...

gregoirejohnb

1) While BNB and other alts have run, ETH and UNI have stagnated due to high gas fees. If ETH tanks, so does UNI. People have moved to BNB and pancakeswap due to cheaper gas costs. See related idea how BNB doubled in price while ETH grinded slowly upward. 2) Would ETH and UNI rise again? Sadly no, as CZ of Binance lowered BNB fees to twist the knife on both ETH...

gregoirejohnb Updated 

1) BNB has overperformed lately due to the strength of Binance Smart Chain having lower gas fees than the Etherium chain. DeFi is so hot right now. See the related idea, "BNB moving back up!" as we caught that trade. 2) The whole crypto market set new highs for liquidations: $8 billion! Would the market go lower? 3) Nope! Price went into a range and then the range...

gregoirejohnb Updated 

1) ETH is the largest network for the hottest market at the moment, DeFi. 2) My system caught wind of the dump before it happened, as shown in the related idea "Alt season is cancelled". A record high $8 billion in liquidations occurred in this drop. 3) Price went into a range, and then the range expanded upward. Looks like the trend is back up! Entry:...

gregoirejohnb

1) Great run-up with other alts to new highs. 2) Price goes into a range and gets stuck. Usually in this situation, price looks for the weaker side. 3) And the weaker side happens to be the bottom. As I posted yesterday in the related idea, "Alt season is cancelled", the market is starting to lean into the downside. No big deal, we'll rebuy cheaper when it's done...

gregoirejohnb

1) ETH lagged behind both BTC and alts, staying in a range. The fundamental reason: it's too popular! High gas fees had people moving to BNB. 2) Then it broke out to new all time highs with the promise of an update in Q3 reducing gas fees. 3) A quick drop and break of the downside means we're dropping again. Oh well, we get to buy ETH cheaper soon. The previous...

gregoirejohnb Updated 

1) The previous uptrend could only make $60K and then turned around. 2) Price tried to make new lows, but didn't get very far. It mostly rebounded quickly. However, during this time alts rallied hard. Especially BNB, as detailed in the related idea "BNB moving back up!" which is +81% so far. 3) BTC and BTC.D are now in an uptrend, which means BTC should gain...