CHR / TetherUSLong
CHR/USDT long
Fundamentals:
The current sentiment in the market is heading toward a beautifully frothy altszn that will hopefully be the catalyst for erecting my nipples for the first time since my wife left me. Today we have seen the beginnings of the frenzy with the ETH killers making strong moves upwards, Solana making a new ATH among them, whilst ETH calms tf down and begins to go sideways at last. The current hype is in ETH killers and new blockchains so to make the best plays we have to find "hidden gems" in this sector that have not been blessed by the sticky green fingers of the omniscient chad god. CHR fits all our requirements for a great gem play as it is a new blockchain offering that is pumping out great updates and is flattening out after the classic Binance listing pump and dump.
This makes it a great choice as a underdog ETH competitor given they have some interesting ideas to separate themselves from the crowd (the blockchain explorer is neat for one) and it has just finished a Binance trading competition which almost always leaves poor tokens exhausted and beaten within a inch of their life from vicious bear attacks.
Overall, seems undervalued and good for a fresh apeing.
Technicals:
Since the Binance listing and the end of the trading completion we have found ourselves right at the bottom of a glorious dump. The PA is coiling together (shown by the blue trend lines) which almost always indicates a violent move. Given the highs are falling while the lows stay relatively flat, this creates the fabled 'Bull flag' which never ceases to cause my brow to sweat and my loins to ache.
We will enter at current price (0.32) given that alts look frothy with half of our position and compete our full entry at the 0.786 FIb (0.302). We're hoping for a test/smash of the downward trend into our TP at 0.469 and some consolidation into the ATH resistance. Our SL is below the most recent wick down at 0.25.
Good ape use low leverage, good ape profit.
The current sentiment in the market is heading toward a beautifully frothy altszn that will hopefully be the catalyst for erecting my nipples for the first time since my wife left me. Today we have seen the beginnings of the frenzy with the ETH killers making strong moves upwards, Solana making a new ATH among them, whilst ETH calms tf down and begins to go sideways at last. The current hype is in ETH killers and new blockchains so to make the best plays we have to find "hidden gems" in this sector that have not been blessed by the sticky green fingers of the omniscient chad god. CHR fits all our requirements for a great gem play as it is a new blockchain offering that is pumping out great updates and is flattening out after the classic Binance listing pump and dump.
This makes it a great choice as a underdog ETH competitor given they have some interesting ideas to separate themselves from the crowd (the blockchain explorer is neat for one) and it has just finished a Binance trading competition which almost always leaves poor tokens exhausted and beaten within a inch of their life from vicious bear attacks.
Overall, seems undervalued and good for a fresh apeing.
Technicals:
Since the Binance listing and the end of the trading completion we have found ourselves right at the bottom of a glorious dump. The PA is coiling together (shown by the blue trend lines) which almost always indicates a violent move. Given the highs are falling while the lows stay relatively flat, this creates the fabled 'Bull flag' which never ceases to cause my brow to sweat and my loins to ache.
We will enter at current price (0.32) given that alts look frothy with half of our position and compete our full entry at the 0.786 FIb (0.302). We're hoping for a test/smash of the downward trend into our TP at 0.469 and some consolidation into the ATH resistance. Our SL is below the most recent wick down at 0.25.
Good ape use low leverage, good ape profit.
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