AUDIO MACRO ANALYSIS: The music has stopped playing, for now....The entire alt coin market is at the mercy of BTC right now, and as long as BTC Dominance trends higher, Alts will not be very profitable, except for short term trading.
In general, I do not hold altcoins during downtrends. Even when you think they can't go any lower: they can.
**IF YOU ARE looking to reenter or buy more AUDIO, however, I would wait for the price to break above the macro trend line acting as resistance. Paired with a break above the 200 SMA (and a rally for BTC) should shift momentum to the upside.
Audius is still a great project with a lot of potential. Do not think for a second that the severe retrace in the price of AUDIO is based on the viability of the Audius project.
The volatility is simply a feature of alt coin markets, which the Audius devs surely realized when they made Audio available for trading.
Traders certainly had their way with AUDIO, and hopefully my artist friends secured some profits too.
I don't see the Audius team giving up any time soon, so if and when the bull market cycle restarts, AUDIO will definitely be one to watch, and may be a good one to buy and hold onto if the price continues to decline in the short/mid term.
happy trades,
CD
Smallcap
DIA/USDT - POSS RETEST ENTRY! Some small cap alts have been stealing the show recently. The trick is to find the good ones early. DIA has broken out of an ascending channel with volume, which is a recipe for parabolic price action to the upside.
**This is contingent upon BTC cooperating (continuing to trend sideways & not dumping)
The Mas are all curving upwards and will cross the 200 if this trend continues.
There are plenty of other small cap alts with solid setups right now. Focus on those instead of the large caps for now.
happy trades,
CD
ALICE/BTC - SHORT TERM SCALP SETUP! [High Risk]If you're like me, you're waiting to scale back into BTC and ETH, and are trying to take advantage of the recent volatility with some short term trades.
One way to kill 2 birds with one stone is by trading ALT / BTC pairs. Not a bad way to accumulate on the way down, if you can time it right.
BTC loves to do the opposite of what you and the rest of the herd expect. I think people are banking a little too heavily on the pennant pattern BTC has been ranging in, and we may be in for more downside before the weekend is over. I could be wrong, in which case I may get stopped out of this trade before you even see it...
But hey, shooters gotta shoot. what else am I supposed to do at 2am on a Saturday night ;)
Anyway, chart explains my thinking here. The trick is to spot short term reversals early enough to catch some upside. But In this case, ALICE is trying to break out from a rising wedge (typically bearish pattern), which can lead to parabolic upside IF it's confirmed. A big green volume spike some hours ago and low selling volume since then got me feelin bullish.
We'll see if BTC cooperates. Use stop losses on every trade in these conditions.
I know I've been quiet since the big dip... I'll try to post more of these.
happy trades,
CD
MSLV -- Bonanza gold/silver grades; cheapMSLV presents a very attractive opportunity in the mining friendly district and with gold/silver hitting fresh highs. Fully funded for this year. Strong management which is marketing savvy. Churning through IPO paper but could explode at any moment, IMO.
...
Mantaro Silver Corp. Introduces High-Grade Sampling Results from Recent Program at Santas Gloria Silver Property
VANCOUVER, BC, June 2, 2021 /CNW/ - MANTARO SILVER CORP. (TSXV: MSLV) (the "Company") is pleased to provide an update on its high-grade silver Santas Gloria Silver Property, located 55 km east of Lima, Peru. The Santas Gloria Silver Property, which is 100% owned, is comprised of three mineral concessions totaling 1,100 hectares.
Highlights of Santas Gloria Silver Property:
- High-grade Underground Channel Samples of over 10,000 g/t Ag at the Tembladera Vein and over 4,100 g/t Ag at the San Jorge Vein in Mantaro's recent exploration program (see Figure 1 for all silver results of the program).
- High-grade gold of 56 g/t Au at the Kelly Vein in Mantaro's recent exploration program (see Figure 2 for all gold results of the program).
- Approximately 16 major veins and vein splays with a cumulative strike length of over 12 km.
- Planned 7,500 metre drill program for the Tembladera Vein System, San Jorge Vein System, Kelly, Maribel and Paquita Veins.
There are over 12 kilometers of intermediate sulphidation veins and vein splays arranged into a number of key target zones: the Tembladera Vein System, San Jorge Vein System, Kelly Vein, Maribel Vein, Paquita Vein and Rosario Vein. The system has never been drilled tested and exploitation of silver was limited to two areas of the San Jorge and Tembladera veins.
AUDIO/BTC - Poss Inverse H&S setup! I mostly trade/post about AUDIO/USDT, but keep an eye on AUDIO/BTC as well - There's a possible Inverse H&S pattern forming at previous support, as well as a possible rising channel that could provide some easy scalp trades if that continues to be respected. If it breaks out from the channel, the red lines are targets.
Remember - the coins you really wanna buy are the ones nobody's talking about yet... ;)
happy trades,
CD
MITH/USDT - small cap - big potentialMITH/USDT recently caught my attention as I was looking for smallcaps with decent chart setups and fundamentals that align with potential breakout zones.
With a marketcap of only 80 million right now there's great potential for multiplying your money once it takes off because not a lot of money is needed to move the market and that is also what makes this a high risk - high reward trade, only invest what you can afford to lose and are willing to keep locked in the coin for a while.
Circulating supply and max supply is both 1 billion so you don't have to worry about sudden watering down of the supply or increase of marketcap without moving the price.
Right now we can see MITH sitting right on uptrend support of a big symmetrical triangle on the 4hr chart and also on support from the prior bottom which makes this area a good buy zone in my opinion but we also have to be careful about BTC potentially screwing with those plans which is why I'd recommend to slowly accumulate over time.
MITH recently merged with Corra.Finance to implement Defi and NFT's for MITH which in the current market may cause a big push and spark in interest for MITH.
Corra.Finance will go live today and the IDO for it will be on the 15th of May.
These dates coincide well with the chart setup and make me very bullish on the future of the project.
If you do not want to risk potentially getting stuck in a slow bleed and don't have the patience for a medium / longer term trade you could wait for a breakout first but in this case that would mean buying 50% higher.
No stop loss on this one for me personally due to very thin order books, too much risk of getting stopped out by a wick and then also massive slippage on top of that. Sometimes we also see patterns like this drop down first and breaking out with a slight delay so if anything I'll be adding more if that happens, I've marked the potential re-buy zone in the chart.
Best of luck and let me know what you think!
$VAL/BTC woke up$VAL, Validity, previously known as $RADS, seems to have woken up with a major pump which lead it the oldest resistance the coin had.
Personally consider this one a gem.
At the moment it's in a retrace, which has a good chance of finding it's bottom around the 0.00007 BTC mark.
Some realistic expectation would be that $VAL will trade in between the 0.00007 range and the 0.00028 resistance for further accumulation before breaking upwards towards higher targets.
Expecting some harder resistance at the 0.236, 0.5 and 0.786 fiblines which are all historical important resistance levels.
A decent target for a new all time high I see being the 2.618 fibline.
FORTUNE TELLER ~ AUDIO/USDT PREDICTION... (Just for fun)Trading isn't predicting. I know I'm setting myself up for failure here, but as the title indicates THIS IS JUST FOR FUN - NOT FINANCIAL ADVICE!!!
Contrary to popular belief, I cannot predict the future.
But I think there's a strong possibility AUDIO (and a number of other alts) are currently in a re-accumulation phase, building towards another run up...
If true, I would predict that AUDIO'S PA is going to continue to be affected by the resistance zone.
I DON'T expect the curve I drew to hold up perfectly. Audio may even continue ranging for a while and invalidate the timing of this prediction.
we shall see......
I just hope you realize......
that since I posted this.... Audio is probably going to crash instead XD
happy trades guys and gals
CD
FTM UPDATE: NEW ENTRY IDEA: BULL FLAG SETUP I posted a setup for FTM exactly one month ago, and after a nail-biting dip, proceeded to pump 240% !! Congrats to those who held on / bought the dip!
Now FTM is showing some more bullish signs, indicating there may be more potential upside. Chart is pretty self explanatory.
Consider this a medium-high risk trade unless we see a confirmed breakout/retest with volume or a bounce / double bottom off of support.
May be another weeks-long hold unless you really nail your entry!
If my posts have been less frequent recently it's because I'm in a lot of trades right now because I'm bullish on alts. Still taking profits and keeping plenty of USDT on the side, though.
happy trades!
CD
AUDIO BREAKOUT! RESTESTING RESISTANCE! AUDIO broke out from a bull pennant / above multiple SMAs and is now retesting the bottom of the resistance zone around $3. I expect a retest of support before it can break into/above that zone, but you never know. This is looking like a reversal from the short term downtrend AUDIO has been in, but it will have to keep putting in higher lows.
targets are marked by red lines and possible reentry levels by green dashed lines. Keep an eye on AUDIO!
A similar setup was recently posted in the Crypto Revolution trading group, and now that we've had a confirmed breakout, I would expect to see some more volume / volatility in the coming days/weeks.
happy trades,
CD
AQUA: Potential Benefitor From Biden AdministrationRelative strength against S&P picking up, strong breaks above trendlines with small caps still seemingly being supported by the market. Liking this one for a longer term hold
AUDIO UPDATE - Short term downside, Re entry IdeasAll the info is written on the chart.
Still long term bullish, but I still expect some more short term downside based on the chart.
The green dash lines are possible re-entry levels, but they're subject to change with market conditions. Scale in and consider using stop loss orders to conserve capital in case of more downside.
happy trades,
CD
Legacy Housing (LEGH) an interesting small_cap to deal with Legacy Housing - LEGH on Nasdaq.
This is one of the small-capitalization stocks that I monitor.
I like real estate at a time of inflationary uncertainty.
Right now, it's graphically locked into a triangle.
I'll keep an eye out for a break.
Know more about it:
Youtube profile of the company: www.youtube.com
Seeking Alpha analysis: seekingalpha.com
New Pundi X The Birth Of A New Asset?This chart aims to document the price action of the newly swapped PUNDI X tokens.
This expirienced an overnight supply reduction by the factor of 1000
Before the swap 1000 nxps was worth: $7.68
After the swap 1 Pundi is worth: $4.29
The price is currently at a discount do to market sentiment.
When china hands out all that free crypto at the Olympics, the cash registers will likely need a way to accept it ;)
Buy the hate and sell the love.
Oppourtunity Abounds.
Not Financial Advice.
Crucial Moment for ALYI,ALYI Current Price - $0.07 Price Target - $1 Short Term target $0.10 Long Term Target $1
Options Not available (OTC) - not on RH or Webull.
Crucial moment on the chart for ALYI I think ALYI breaks out of current resistance and sets new highs.
Alternate Systems released amazing news a couple weeks ago. They are set to deliver 2,000 EV bikes to Kenya by July of this year! This is the first order for ALYI that has been scheduled for delivery. They gave us the proof of concept which sent the stock to 10 cents I think it’s a safe assumption that since we have confirmed delivery dates ALYI should surpass that 10 cent level in the short term and run well beyond that in the future. Some more good news is on the way ALYI announced yesterday they have a new contract that will expand their EV ecosystem . This is my largest stock position, many EV stocks are able to run up to a billion dollar + market caps without a proof of concep OTC:ALYI t or scheduled orders. ALYI is sitting at a market cap of 9 million . The capital inflow required to move this stock higher is very minimal. Love this penny stock!
AUDIO UPDATE: NFT NEWS PUMP!After a massive 3000% run up over the past few months, AUDIO entered a steady retrace as most altcoin PA stagnated due to BTC volatility.
However, 4 days ago the Audius team announced planned NFT integration, covered by coindesk here:
www.coindesk.com
Anything NFT related is getting a lot of attention / bullish investment, so this news drop was a well-timed attempt to stop the bleeding.
Unfortunately I think this news largely went under the radar as BTC stole everyone's focus the last few days.
Perhaps now people are hearing about it because sure enough, despite bearish short term technicals, today the price pumped, breaking out with volume.
The question is - is this news enough to reverse the short term downtrend? Or is this a case of "buy the rumor, sell the news?"
Short term technicals have shifted bullish on this pump. Stoch & MACD are oversold & angling upward on 12HR and 1D TFs, and the volume does add validity to the breakout. These indicators still look pretty bearish on 3D and Weekly though. So I'm kinda on the fence.
It would be more compelling to see a third bounce around the 200MA / recent support. I would consider that an aggressive entry point at this time, but who knows. If enough people fomo into this pump, we could see another run up sooner than expected.
happy trades,
CD
MATTER - Gonna be something big very soonHello TRaders,
Here's a large risk one, based on the market cap size.
But I do believe it has some major potential to make a big move to the upside over the next month or so.
Especially with the news of it hitting the mainnet this next week on April 15th.
Keep your eyes on this one.
Good luck and be safe!
BZRXUSD - Forming possible sub-wave 3! of larger wave 3.> Price holding above 50 and 21 EMAs
>Commencing sub-wave 3 or the overall larger wave 3 expansion
>Volume profiling thinning above 70c suggesting this could run quite quickly.
>Targeting Fibonacci 161.8% of plot point Wave 1 – 2.
>Market Cap - $83mil
>Total supply - 1.03 Bil
Short term target $1.10
Stop level $0.40
ENJ BREAKOUT! GOLD CROSS ON 1HR PLAYING OUTENJ has put in a complex double / rounded bottom and broke above the short term upper trend line as well as local resistance level, with volume, possibly triggered because of the bullish golden cross of the 100 & 200 SMAs confirmed on 1HR TF.
For ENTRY - Look for a retest of fibs & local support levels. More bearish short term idea would be a possible retrace/retest of the rounded bottom pattern (but I wouldn't bank on that). ENJ can pump pretty hard, and with NFTs still in the news, I'm definitely bullish on short / mid term as alts start to take off again.
Don't forget to take profits though - like many alts, ENJ tends to put in these weeks long retrace/consolidations after/before pumps.
happy trades,
Crypto D
AUDIO UP 1425% SINCE MY LONG CALL 3 MONTHS AGO!WOW. Remember that time back in January? When I told you to long AUDIO? When it was at 20cents???
I knew Audius was an exciting project that traders would want to get in on... but I did not expect it pop off this quickly! Up 1425% percent since that post, completely ignoring the market's recent short term downtrend.
So how do you trade this?
Honestly, I don't even know. It's not in my strategy to buy pumping small caps at ATH, especially when I'm already long...
A sensible trader would tell you to take some profits... but a sensible trader would also have told you that a month ago lol.
I'm a pro of selling too early, and I'm sure glad I resisted that instinct this time around. Even if I do take some profits, I plan to hold at least 50% of my bag long term.
AUDIO might keep up this momentum for a while, but I think we all know that roller coasters must drop eventually... just don't ask me when that will be lol
happy trades and Viva L'AUDIO!!!
CD
XDN TA, SUCH a strong buy Forms the H&S and retests neckline, super strong buy right now expect this to clear 10$ cents