Long
BAOPERP Trading Idea
I am very bullish on 
BAOUSD as I believe that their concept of setting up full synthetics that are franchised across different chains is the way that synthetic assets need to be for it to be useful and to be adopted.
There is a lot of downward pressure from the high APY for yield farming even at only receiving 5% of the rewards immediately which is a great way to get tokens into circulation.
Here is my trade idea for now until the end of the financial year. From the charts if it crosses a red trend line SHORT and then if it crosses a green trend line BUY. These trend lines have held up over 5 months so I can imagine that the few traders trading BAO will be looking at these trends.
Again a very high risk coin to be trading due to the very low volume being traded (especially the Perpetual Futures contract which can be easily manipulated by a BAO Whale on FTX).
Would love to hear people's thoughts.
BAOUSD as I believe that their concept of setting up full synthetics that are franchised across different chains is the way that synthetic assets need to be for it to be useful and to be adopted.There is a lot of downward pressure from the high APY for yield farming even at only receiving 5% of the rewards immediately which is a great way to get tokens into circulation.
Here is my trade idea for now until the end of the financial year. From the charts if it crosses a red trend line SHORT and then if it crosses a green trend line BUY. These trend lines have held up over 5 months so I can imagine that the few traders trading BAO will be looking at these trends.
Again a very high risk coin to be trading due to the very low volume being traded (especially the Perpetual Futures contract which can be easily manipulated by a BAO Whale on FTX).
Would love to hear people's thoughts.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.