Fundamentals: Monthly token burn of 2B & integration in to new veDAO project. Velo is ranging within a corrective ABC triangle. The top of the triangle is at ~.105 and the bottom is ~.037. TA tells us a breakout of the triangle can expect an impulse equaling the height of the triangle (.105-.037 =.068). .068 impulse at the triangle breakout point of .065 would...
Under the radar metaverse project that is quietly making good progress on their project. Spent many hours performing TA on CHR and I believe it could impulse this spring (Similarly to 400% impulse in the spring of 2021). It’s been honoring a pitchfork channel and the 2.272/4.272 on fib extensions. The last impulse went to the .618 of the pitchfork channel which...
CHR is a low cap alt that has a potential technical setup to go 10x in a matter of 1-2 weeks as it did earlier in the year.
Looking at the channel XLM is in it appears we will see a sharp and quick break upward to the $1 area. This is also the ATH achieved during the ‘17-18 bull run.
This low volume B wave up to 8800 looks to be exhausted. Next target to complete the ABC correction from 6850-9200 looks to be at 8000 where the downward trend line from July, bottom of current downward channel, and pitchfork upward channel all converge. 01/29 looks to be the date so this would require a relatively quick and sharp drop. Stoch and RSI are...
Btc is filling out the pitchfork nicely. Looking for a bottom at 8150 with a big volume bump to get the next movement started toward 9400.
XRP conveniently pumped just before btc is about to dip sharply to 8250. This spike on xrp completes the H&S necessary to propel it to Around .22. Suspect it then rises to the daily 200MA at around .26 before its next move.
Time for next leg down in correction to carve out a nice upward channel that could resume to 9400 after touching the 4HR 100MA
Looking at the channel and time periods (every ~11 months) of bull cycles it appears that Factom could be ready to go on a 3-4 week bull run. If it stays true to the channel the top would be around .0023. This would be 6x it’s current price. Weekly Stoch is pointing up and RSI appears to have bottomed. Let’s see what happens!
LINK dropped lower than I expected due to the BTC drop. It now appears to be on the verge of breakout out of the bull flag. 4hr closes and confirmation above $2.50 would confirm. Fireworks are possible here with little resistance above.
Based on the chart patterns it appears to be nearing the end of a bull flag from its high of ~$5 (volume spike/bottoming out stoch on the daily/strong support at $2.85). Link currently has a market cap of $1.1B. It’s possible that it is taking aim at the significant psychological threshold of $10 (~$4B) which will put it in the top 10. From a fundamental...
XLM has formed a diamond bottom and has the potential to start drawing the right side of the handle of the cup that formed during the late 2017 break out. SDEX/FairX/Kin/SatoshiPay news coupled with IBM announcing they will be using stellar for fiat settlements in the Central Banks of the SE Pacific could produce the volume necessary to complete the handle in the...