Long

Spot Long on Myro

Updated

While alts and Solana memes have been taking a beating, there's still great opportunity to trade these. I find sticking with spot is the safest and if you look at something like Myro, which essentially moves in tandem with WIF, it's a relatively easy trade at moments like this when it's been bouncing at support. I've re-entered at .083 and intend to hold this until around .24 as long as Myro can move above the avwap at .16 - also depending on how things are looking there is potential to return to its ATH, but I think any massive movements in the market will come when FTX repayments of 13 billion usd hit in 60 days, another reason why now is a fantastic entry point for spot.

FOMC meeting on rate cute is today at 14:00 EST and markets as expected took a dip yesterday and should rally at the news of another cut of .25 - this is where I expect Myro to follow the market up and begin testing key resistance points I've charted. Of course this time frame could take longer but I expect by end of January Myro to be back around .20

Trade active

Much bigger flush across the market yesterday than ancipated, however still provided another great entry point for a spot long. Same thesis stands - Myro is moving in tandem with WIF and when alts run it will perform well, easy 2-3x, possibly more.

Note

The flush continues, we're almost near bottom and full reversal. Promising signs are Myro continues to follow Sol and Wif and actually performing better than wif right now. I think when we see a full reversal Myro will perform very well - the real test will be if it can break .14 and .16 key resistance. For now I bought more SOL, SUI and MYRO.

Note

Looks like the multi-day leverage flush might be over - Myro recovering well and printing big green candles with Solana and still performing better than WIF on recovery. I think we will see a swift return to .095 in a matter of days and upward from there. Staying clear of leverage on memes, there can still be violent swings on the way up.

2 days ago

Note

Looking good - confirmed trend reversal breaking above .072 and moving in tandem with WIF. Next target is .16 and that will be key resistance and moment to see if this moves on to .25

mgreyd

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