The Fork Abides - Luna towards $160It's official! LFG.org has bought ~1 of the 3 billion UST worth of Bitcoin to serve as a depeg back stop. Seems that this buying is one of the catalyst for digital assets taking off a bit lately. The chart still looks like a cup and handle to me. That would point us to around $160 on a big, first pulse. Also looking at the low 200s if Luna FOMO kicks in. Most likely move is to 130-140 and continued gradual growth. Luna you are a strange bird in the world of crypto
Stablecoin
Is LUNA the lone BULL in a pack of BEARS?As an intra-day/intra week trader it's been tough recently to find enough space for profit without risking too much. So I decided to look through some of my published ideas and found my hit rate to be satisfactory with one call that was way way off. (link below)
So I was compelled to dig deeper and zoom out on LUNA/TERRA and see what the BIG PICTURE really is.
LUNA had a meteoric rise since December and has never really quit. It's velocity has continued in one direction upwards. Higher highs and higher lows continue to be set as this asset has cracked the top ten crypto market caps and, excluding stable coins, is only behind BTC, ETH, and BNB.
Just doing some back of the envelop math with a friend we calculated that LUNA, with BNB's market cap, would be priced around $170.
Outside of TA and price spec this asset/network is flush with features and apps that many of it's layer one competitors have failed to check off the list including:
1. UST - The only major USD stable coin that is decentralized and not back by cash and commercial paper (USDT, and USDC are) and has continued to be added to major exchanges and adopted by other chains.
2. Anchor protocol (ANC) - Offering a staggering 19.5% for UST blows competitors out of the water as far as stable coin yield % is concerned. The same protocol/app allows you do deposit bonded LUNA (bLUNA) and bonded eth (bETH) and borrow from them.
3. Mirror protocol (MIR) - First of its kind, mirror protocol allows you to get exposure to traditional finance equities like ALPHABET, AMAZON, and MICROSOFT. And commodities exposure through mirrored assets that track USO (United States Oil Fund), SLV (ishares silver trust), IAU (ishares gold trust).
To boot, all of these can be combined with an equal amount (in $ value) of UST and farmed on mirror protocol to earn MIR, or they can be borrowed from.
4. A handful of other earn/borrow decentralized apps like Valkyrie Protocol, Pylon Protocol, Mars Protocol, Orion Money, and PRISM)
5. TERRA has now become the 2nd largest, behind ETH, for TVL (total value locked)
6. NFTs (randomearth.io, KNOWEHERE, OnePlanet, Messier Art) and NFT gaming (levana, deviants factions)
7. Astroport and Terraswap - Next gen Automated market makers
8. StarTerra- Gamified Launchpad
9. Glow Lotto- a no lose savings/lottery platform where your deposit for entry is never lost
10. TNS - Terra Name Service, inspired by ens.domains
I have yield-farmed and/or single staked on Binance smart chain, Avalanche, Polygon, Fantom, Solana, Cronos, and Harmony One. By far, my experience in the Terra ecosystem has been the best, without question.
Maybe there are some other features I have left out, if you think I have leave some feedback.
This is of course my opinion, but I do believe that this asset will jump BNB and become a top 3 crypto. The technical analysis looks good, the network looks good, the value added features look good. I cannot really come up with any rise why LUNA doesn't have ample upside.
These are just my thoughts and opinions based on a decade plus experience in crypto-land. It is not meant to be financial advice. Please DYOR and trade at your own risk.
Signing off for now,
CryptoSlayer
Terra Founder Hints at $13 Billion BTC Terra founder Do Kwon hinted at a future purchase of $13 billion worth of bitcoin to supply the reserves of the protocol in a recent Twitter Space shared with bitcoin enthusiast Udi Wertheimer. In the same Space, Do Kwon explained the new mechanics that the Terra ecosystem is introducing in order to use bitcoin as collateral for its flagship decentralized stablecoin, UST.
Is Dogecoin Crypto's New Stablecoin?A few months ago I argued that Dogecoin's numerous partnerships with various businesses out there (which now seems never-ending at this point) made it a perfect candidate to emerge as a crypto-based "stablecoin" in the Web3 ecosystem as a whole. Given the astronomical jump in 2020-2021 (almost 100000%+) and wild volatility that the coin typically exhibits, the idea may seem absurd but if you look at the project more closely it seems more and more likely that we're starting to get there.
- Dogecoin's current inflation rate is around 4%, which is set to gradually taper off over time. (Disinflationary model.)
- Businesses like Dogecoin because its inflation rate is reasonable and predictable, which allows them to use the coin for long-term projects. (Inflationary assets are good for speculators but businesses need stability, not growth.)
- Bitcoin and Ethereum are currently treated as speculation assets (what happens with ETH2/ConsenSys is TBD) but Dogecoin has focused on usability from the very beginning.
As argued in the previous idea, the widespread adoption of Dogecoin by the business communities make the coin less useful for speculation (it's not likely we're going to see a huge spike like we did in the last few years) but as a stablecoin, it tends to whether downturns in the market a lot more. This week may be the first time we've seen this pattern emerge so clearly.
BINANCE USD (BUSD) IS AT A CRITICAL LEVEL TO NOTE.
BUSD all time high has occurred twice leading to formation of a relative M pattern.
BUSD retracement is currently at about 40% from the beginning of the BULL RUN that led to the last all time high (ATH).
This asset has been retracing, hitting and retesting the FIB levels as displayed on my TA (chart).
BUSD is currently sitting at $400, FIB 61.8 level, horizontal TL and they are all my support level (zone).
My opinion:
1. Continue bullish run to $440 zone
2. Break the current Support zone and run down to my target buy zone @ $360 - $340. This my target is also at the beginning of the neck of the M-pattern.
I will wait to add more to my portfolio at around my option 2.
KINDLY SUPPORT ME WITH YOUR LIKES, COMMENTS AND FOLLOW.
USDt update todayThe exchange said that the new margin trading service aims to improve its stablecoin offerings to enable it to remain consistent with user demand and market evolution. The new service would, therefore, enable Bitfinex investors to conduct leveraged trades for the trading pairs. This means that customers will be able to borrow money from the platform to exchange USDt and EURt, GBP and USDt, GBP and EURt, and JPY and USDt.
Bitfinex mentioned that the addition of the new trading pairs is in line with its stated commitment to providing a ‘coin agnostic platform’.
Under $65 is a steal; Over $200 is a sellTerra has all sorts of things happening, from a Washington Nationals sponsorship to a multiple payment apps going live this quarter. From a technical standpoint it looks over sold and ready to climb slowly toward $100 again. This drawing includes a pitchfork to capture the current trend (fresh, but likely) and a 730 period moving average with a multiplier to predict potential min max range.
In a game of probabilities, Bitcoin is looking primed for upsideIn a game of probabilities, one could never be 100% certain of the outcome. I'd be very happy if my opinion is helpful, yet of course - I can't predict the future, just working with what I see.
In a search for evidence, however, my bias remains bullish. My conviction is we have bottomed and price will expand to the upside moving forward. It's worth noting that find similarities between now and 2020 (before the 10-60k expansion). To name a few - the Supply Side dynamics, Golden Ratio Multiplier, 2Y MA, RSI and many others. This to me builds a case with a much higher probability for upside going forward.
Btc update Hello everyone!
As we can see price was squeezing in ascending triangle,finally yesterday price managed upside breakout at the same time broken our resistance (red downward sloping trendline)
Retail traders get excited after seeing this breakout and ofc youtubers (moonboyz) add fuel to the fire)) tbh I wont surprise if price reverses after trapping these traders! Short term might be bullish but as long as price below MA200 and Macro side risky because of rate hikes we have zero confirmation that the downtrend is over! Stay safe..
Important events for crypto:
1) House of Representatives committee schedules hearing on stablecoins for February 8
2) US Senate slates hearing on stablecoins for February 15
Stablecoin SSS Index vs. Bitcoin The Stablecoin SSS index suggests a "buying time" for Bitcoin. This indicator is a new model and is not financial advice.
In the last few years, according to the data, when the SSS indicator (Blue line in the chart) approaches or hits the lower green line, it was a great time to buy Bitcoin.
LUNAUSDT BULLISHLuna is one of most popular projects in crypto, not only because it is top 10 coin, but because of their stable-coin solution. Without them crypto market would be in collapse in the bleeding times, like this one.
We did a massive research in this project, so after all information we gather up, we expect it to go through the sky.
Buy in: around 45$ so we can test the Pitchfork Support line.
TP 1: around 87$
TP 2: around 130$
Not the financial advice.
yAxis Seems to be Very Good for Investment 22/02/2021What is yAxis?
yAxis markets itself as a meta yield farming aggregator that is able to switch the underlying assets when deploying strategies. Yield farming strategies are governed by a DAO, where token holders vote regularly to implement the best strategy out of a selection of strategies provided by multiple yield aggregators.
yAxis price today is $33.70 with a 24-hour trading volume of $3,473,514. YAX price is up 0.2% in the last 24 hours. It has a circulating supply of 800 Thousand YAX coins and a max supply of 938 Thousand. Uniswap (v2) is the current most active market trading it.
What are YAX tokens?
The YAX token is yAxis’s native governance token. As the platform is developed further, YAX tokens will be used to shape the direction of its future.
Among the proposals that the DAO may choose to execute is to alter the emission of YAX or to reward early users of the protocol. Governance may also vote for the protocol’s fees to be distributed to YAX holders.
10% of YAX tokens is saved into a community treasury which could be deployed via a governance vote.
How does yAxis work?
The goal of yAxis is to create a meta yield aggregator which can obtain the best yield by taking advantage of other existing yield aggregating platforms such as yearn.finance or Pickle Finance. In other words, it operates above these platforms and can switch between platforms that offer better yields.
Currently, the product can be divided into MetaVault and governance.
Multi-Asset MetaVault
The multi-asset MetaVault allows users to deposit different types of stablecoins such as USDC or DAI. Users who deposit stablecoins will receive MetaVault tokens (MLVT) to represent their share of the vault. MLVT tokens will accrue value as the deposited funds are deployed to the best yield-aggregating strategy. Depositors will get to save on gas fees as the fees are distributed to all depositors.
Whenever there is a better strategy available, MetaVault will convert the underlying deposits into the appropriate asset to begin yield-farming using the more profitable strategy. Users can choose to withdraw their funds anytime by returning their MLVT tokens for any stablecoin of their choice and interest.
yaxis metavault page
Governance
Strategies are decided by the community by staking YAX tokens on the governance platform. YAX holders can choose from a preselected list of yield farming aggregators, and stake their tokens in the contract which they believe will provide the best return.
Strategy risk, fees, and the overall DeFi market sentiment will be displayed on the governance user interface. In return for voting, the community will reward voters with a share of the MetaVault’s performance fee.
How do I get YAX tokens?
You can obtain YAX by purchasing them from cryptocurrency exchanges such as Uniswap or Bilaxy.
Besides that, you can also earn YAX through the staking section on the yAxis platform. Users can stake their existing YAX to earn a share of farming rewards which are sold to YAX and redistributed back to stakers.
Users may also provide liquidity for the YAX-ETH pair on Uniswap and stake the liquidity provider tokens to earn YAX in the LP section. To know more about this and other yield farming programs, you may head over to our Yield Farming page.
there are total of 3TPs i have mentioned where easily we can achieve them. i have mentioned these levels for those who did not invest on time so you can understand where to jump in the market in case you where interested
Does the slide start from $123 or $174?I believe $123 is a better candidate for the slide and the $30 is a better target than $10.
crab harmonic pattern:
X=$323
A=$0.069
AB=0.38 XA
BC=0.88 AB
1.6 BC=$10.18
2 BC=$30.13
0.78 XA=$53
2.24 BC=$59.6
0.88 XA=$123
2.6 BC=$174
1.13 XA=$967
3.6 BC=$2987
1.27 XA=$3210
1.41 XA=$10295
4.23 BC=$17286
1.6 XA=$59623
SPELL long$SPELL broke through the resistance level and the descending trendline. Bullish movement to resistance at 0.0386 n$ is expected to happen.
Weekly Cobalt 0x TA UpdateChart ups on various currencies and coins. looking at market structure, trade location, and risk. interacting with the market rather than predicting it.
To learn more about median lines www.andrews-lines.com
To learn more about the language of the markets: languageofmarkets.com
These are not endorsements, and I am not paid to promote these resources.
$RSR/USDT 3D (Binance Futures)Symmetrical triangle near breakoutReserve Rights is accumulating above 50MA support and preparing for the next big move to come!
#RSR #DeFi reserve.org
Current Price= 0.035359
Buy Entry = 0.035421 - 0.031653
Take Profit= 0.051122 | 0.075996 | 0.113954
Stop Loss= 0.024730
Risk/Reward= 1:2 | 1:4.82| 1:9.13
Expected Profit= +52.41% | +126.57% | +239.74%
Possible Loss= -26.27%
Fib. Retracement= 0.786 | 1.272 | 1.764
Margin Leverage= 1x
Estimated Gain-time= 6 months
Contracts:
#ERC20 0x8762db106b2c2a0bccb3a80d1ed41273552616e8
#XDAI 0x5a87eac5642bfed4e354ee8738dacd298e07d1af
AVAX is Overbought, needs too cool offAVAX is performing well but needs to build a structure if it wants to post higher highs.
Don't FOMO, wait for a retrace.
Market is very volatile so we are constantly looking at what BTC and ETH are doing.
Positive signs in OHM's chart, Project outlook is good, i'm longOHM is showing why it is the best DAO - treasury is healthy, staking has been steadily in the range of 7,600-8,400% APY; and Olympus Pro is expanding its ecosystem.
Many new DAOs are appearing that are forked off of OHM, which is growing the entire DAO market cap, and is suggesting great potential for the viability of actual DeFi stable coin. I think OHM will end up having the largest cap out of all of them, and is a wise investment choice at this time.
🔥 COTI / USD — COTI Trading 🔥 November 10World demand on digital currency is increasing and by the next 10-20 years, all fiat currency will be digital.
COTI is the first platform designed specifically for the development of stablecoins.
I think COTI might be in the lead in developing of stablecoins during next couple of years, so project value will increase.
Share your vision about this project and possible price behaviour in the comments below
Is Tether really stablecoin?Business media has raised its concerns regarding the stability of Tether USD. Personally, for me, it has been challenging to make an opinion is a Tether really going to continue its stability. What do you think, will Tether keep its status as the number one stable coin in the crypto market?
Bloomberg article: www.bloomberg.com
Bitcoin - Double Topped Blowoff - Defi Ponzied - Squid GameAn over-leveraged Ponzi. Bitcoin "NOT NEEDED". CBDCs win. Currency requires transacting. Crypto at the moment is nothing but fraudulent schemes. FOMO during desperation. Bye Bye $DOGE & $SHIB. Another #dogefather tell.
#storytelling PONZI POGGERS. Binance & Coinbase stablecoin disasters.
BUYER BEWARE
#QUICKMONEY Debt backed by nothing!!!! EVERGRANDE of Crypto.
EPS/USDT Downtrend breakout. How high can we go till EOY?In case you miss a chart you can suggest it in the comments. Maybe we will cover it next time.
Intro:
- Ellipsis is a low slippage stable coin swapper onto the Binance smart chain ( BSC ).
- SEC confirmed that crypto will not be banned which is positive for the whole crypto market.
- DeFi projects appreciated a lot of attention during the first quarter of 2021 and probably will again during Q4.
Daily chart:
- Price shows a breakout above the purple resistance line. The 0.45$ line now acts as support. We immediately face the local resistance around 0.53$.
- Volume is on a steady decline since September where price peaked. Once we confirmed the trend reversal we expect additional price spikes.
- RSI analysis confirms the breakout alongside price.
- Support lines are at 0.45$ and 0.35$.
- Resistance lines are at 0.53$, 0.8$, 1.075$ and 1.5$.
Expectation:
- We expect a further price appreciation during the next three months and a solid recovery into October. After the peak around 1.1$ we got hammered down to 0.45$ and expect to recover within this month.
- Looking forwards into October where we might see an ETF approval for Bitcoin . This would be in favor for the whole market.
- Binance got rid off some FUD that partly caused it's price to fall. Now BNB sees a great recovery which opens the doors for BNB projects like EPS .
- DeFi will get more attention during Q4 again and not only for Tax reasons.
- End of the year prediction: We will see a 1.5$+ EPS before the end of 2021.
Basic rules:
- Never buy the top/ ATH
- Take profit as long as you can (also partial profit is profit)
- Use Stop/loss for leveraged positions
- If you are not experienced, don't leverage in the first place
Enjoy the ride and don't be too greedy.
If you like the content, please like, comment and give this channel a follow.
We would love it if you could share your thoughts in the comments.
Discussions are very welcome here.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
ps.
Chart explanation:
Main lines:
- Green lines are tested support lines.
- Orange lines are resistance lines or, if we are above, possible support lines which were not tested yet.
- Cyan line is for volume trendline.
- White lines are Fibonacci retracement levels
Helplines:
- Purple lines are trendlines we take a look at.
- Blue, green, white and pink lines are 200MA, 100MA, 50MA and 20MA.
- Yellow lines are for visual help only.
Specials:
- Boxes represent either entry zone or support zone . Check the description.
- Cameras represent MA crossings. Yellow camera stands for a golden cross while the cyan camera stands for a death cross.
$FXS/BTC 4h (Binance Spot) Bull-pennant breakoutFrax Share broke out bullish locally and looks ready for another leg-up that pull-back.
FXS is not only a DeFi token but also a member of the Avalanche Ecosystem!
It works as a governance for the Frax Protocol, which is the first fractional-algorithmic stablecoin system (FRAX).
Current Price= 0.00012369
Buy Entry= 0.00012395 - 0.00011715
Take Profit= 0.00014456 | 0.00015810 | 0.00018294
Stop Loss= 0.00010275
Risk/Reward= 1:1.35 | 1:2.11 | 1:3.51
Expected Profit= +19.92% | +31.15% | +51.75%
Possible Loss= -14.77%
Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 2 weeks
