Update on CRO
Updated
A couple of weeks ago, i posted an idea thinking we reached the bottom. Now, i'm not so sure anymore. It looks like CRO is stuck in the red channel. It tried to escape but it made 3 tops. The fat green line was support, but it couldn't hold and became resistance (a little bit soon to say maybe). So there might be a buy opportunity at $0,05. Crypto.com is planning to tie a dollar value to it's debit cards in stead of a steady number of CRO. I think there will be less incentive to hold CRO followed by a lower price.
Note
Everyday 16 million coins are dumped on the market, i can't see why this coin would go up anytime soon. Proof:Total coins is 100,000,000,000 if you substract from this number Multisig 2-6, you'll get give or take 23,000,000,000 = circulating supply according to coinmarketcap.
So every CRO dumped in multisig 7 is available to buy on the market.
etherscan.io/token/0xa0b73e1ff0b80914ab6fe0444e65848c4c34450b
coinmarketcap.com/currencies/crypto-com-coin/
Note
Turns out the green line was weak resistance. If we cross the red line and find support on it, i might consider buying.Note
4th top or breaktrough. Keep an eye on it.Note
Don't really know what to think about the last top. Maybe it was just a fake-out. Keeping my hands of this coin at the moment.Trade closed: stop reached
I think we broke out of the consolidation channel. No clue why it is going up, probably just the bull market.Note
Just found out that the crypto cards are now staked against local currency value. Don't think that's a good thing, but people seem to like it. more info:reddit.com/r/Crypto_com/comments/llq8mi/cryptocom_visa_card_staking_requirements_to_be/
Note
70 Billion CRO are going to get burned, finally a good move. That explains the weird spike.
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