Roll Up Rollup - Layer 2sSo the theme for the last bit of alt season was probably layer 1s such as AVAX and SOL
If dollar topping and risk bottoming here most things will do well
But i think one theme for the likely coming alt season would be layer 2s (scaling solutions)
The layers refer to the subsets of the future blockchain internet (web 3)
Vitalik has been bigging up L2s since the merge
If eth wins the web 3 race (not much competition) it needs to scale; and sharding is a long way off
As such as i see it we have an ascending hierarchy of scaling:
Side chains (matic)
Optimistic rollups (optimism)
Zk Snarks (Loopring, mina)
Zk starks (Immutable X)
Skale is a hybrid 1/2 as far as i am aware and matic/polygon is moving into starks and snarks
I think everything i mentioned here does fine
But until starkware has a token immutable x and possibly matic have some usp on starks i think
GRI 2022
Gri2022
Ox Protocol ZRX is an og coin which most have forgotten about
In the most hated rally it might get some love
It’s a protocol widely used in dexs and ether based nft exchanges to allow off chain transactions and lower gas fees
It’s flirting with a breakout
Rsi is trending up
This could be a ten bagger
GRI 2022
NOT TARDING ADVICE
NAS vs SPXPutting this out there for me for monitoring
But for those who have been kind enough to follow- it's yours too
NAS vs SPX
NAS COULD be at a bottom as per the geometry
As per the SAME geometry (major pitchfork pre and post corona and at the last high) SPX can't be
That nails on a target of 3600 for SPX which would put NAS down to 10k
GRI 2022
NOT TRADING ADVICE
ETHeismPrice action is bullish on the longterm timeframes
Admit it when it was mooning you wanted to buy it
Now it’s been dumping you’re waiting for $X where X is always lower than the current price
Sure if you’re a technical trader play the pamps and damps with stops
In terms of making real money in crypto for possibly this final cycle before the end of fiat currencies…
You need to decide if ethereum is here to stay
I don’t think there’s a surer bet across all asset classes
When it was at 150 bucks I wanted it at 50
When it was at 50 I wanted it at 10
10 never came
I can assure you smart money is accumulating this
But well we’re all dumb money innit
…
GRI 2022
THE ROADMAP: 4100 in Nov, 3800 in Dec, ATH in Q1/2THIS CHART IS A SYNERGY OF TIME AND PRICE, so it's probably correct lol
In the lower pane we can clearly see RSI is in a nascent uptrend, ipso facto: bullish divergence.
I have shown before that from the corona low to the ath, we have hit a reversal point on the pitchforks and done a perfect 50/50 Gann retracement: circa 20 months up, 10 months down to hit the 50% retrace- where we currently reside.
Most major moves are 6 pivots, which i have labelled here 0-5.
We can see the primary downtrend (red Andrews fork) has been rejected.
All that remains is to reject the secondary downtrend (red pitchfan, trigger line).
What i would envisage here is a move to 4100, one last rejection of the major downtrend: a pullback to 3800 or so for a higher low
Then the trend change in around 6-8 weeks time: where we finally break the major downtrend and set a higher high
We should be around ATHs in Q1/2 next year
After that no idea what happens
This all coincides with the dollar topping out here
GRI 2022
NOT TRADING ADVICE
Dollar has topped out...In all probability
I have a geometric chart scaled for time vs price here
At the very least EURUSD should come back to parity
If it makes the parabolic upmove to the higher target then the melt up for stonks is on
If the dollar has indeed topped out the minimum would be some relief for stonks this year
GRI 2022
The🔥Great🔥2022🔥Bear🔥TrapIn March 2020, in economic terms the planet stopped turning
This resulted in a 35% correction in stonks
We have now seen a 25% correction in stonks from ATH
The world is open for business
The FED balance sheet is still immense
Coupled with a possible multi year top on the dollar and a possible multi year bottom in crypto
This moment will go down in history- as either the mother of all dip buys or tHE BIg shORT 2.0
You know what i'm betting on
www.federalreserve.gov
GRI 2022
PITCHFORKS FOR SPX PAFeel free to check my ideas
For the index i've called this perfect from the top
I had an idea which tracked PA perfectly for the move to 3800 from 4500 or so
Here i have added to it
The Andrews pitchfork forms a median line from the bisector of pivots BC from pivot A
The Schiff pitchfork moves the origin point to half the vertical distance from A to B
Here i have marked major pivots on the daily chart for the last year or so
I then have a major pitchfork from the major monthly pivots from the Corona Crash to the ATH
I have a fib retracement on the whole move since corona
Whilst all think the bottom is in for at least a relief rally
PA tells me this is a ded cat bounce
Bulls will get trapped on the fall to 3600
From there we can consolidate or rally
The higher we go here the more chance of 3600 failing as support which would bring 2XXX into play
You better hope we drop to 3600 soon bulls (we will)
GRI 2022