ZenTradesRW

ZenTradesRW

INJ breaking out of the 10 week flag with plenty of room on RSI. Expecting a pit stop around $15 and then head towards $50 by August before a larger and longer correction. INJ has well outperformed the market YTD off the bottom and has consolidated nicely, while many other alts rolled over. I think INJ is the current cycle market leader and is following a similar...

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Bitcoin retesting the neckline on declining volume as sentiment sours and everyone leaves to chase the stock market. Shorts loading up on the SEC news. Think they're about to get squeezed over the next 8-10 weeks. Doesn't need a ton of demand to push higher from here. The entire crypto market cap is smaller than Microsoft and many are offsides.

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ETH setting up a large cup with handle or near-term pennant. Sentiment has soured, positioning is light, bad news is out, yet price hasn't moved. Just basing above support and ready to launch. Expecting this move to be explosive if it can breakout.

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INJ has been in a strong uptrend off the lows since Jan 2023 and appears to be setting up for another leg higher. Even after the SEC / Binance news today, INJ held pennant support and is tightening up. Expecting a move in the next week or so. Injective fits the DEX + AI narrative. As the SEC continues to push exchanges offshore, this may provide a strong tailwind...

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BTC has been building a flag the past couple months above key support. Tightening up and looks ready to breakout this coming week. Sentiment is poor, positioning is light...think we ultimately hit that top resistance level near $50K by August and then get a 3-6 month correction.

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Bitcoin dominance putting in a head & shoulders at key resistance w/ RSI declining. Think we get a breakdown in the coming weeks. A large decline in Bitcoin dominance typically means alts go on a big run

ZenTradesRW Updated 

ETH looks ready to break out of this near-term flag / medium-term cup with high handle. Basing just below a huge level. If it can flip, we likely go to $3K

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Injective has been trending higher for the past 6 months or so and appears to be setting up for another leg higher. Volume has been drying up in this base. DEX with $150m capital raise in January from notable investors

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FET putting in a possible double bottom with bullish RSI divergence on all pairs With NVDA guiding +50% higher revs on AI, money likely rotates back into the AI names

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MATIC basing on support and looks ready for a snap back rally to the 200 day and possibly $1.15. Both BTC and ETH pairs washed out and starting to turn up. MATIC was one of the leaders off the June bottom and has lagged the last few months as money rotated to new names like INJ and RNDR.

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PEPE may be developing a double bottom and putting in a final shakeout down to key support. If we can breakout over this wedge, the odds significantly increase for continuation of the uptrend and possibly new highs. Even in this base, PEPE is still one of the most traded coins by volume, which is a good gauge of interest and general liquidity risk. Most meme...

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With CPI coming in at 4.9% vs 5.0% est. for April and trending downwards, the probability of a pause in rate hikes increases significantly. The market seems to be ahead of the news as we're well off the Q4 2022 lows. I think the "disbelief" rally continues higher as Bitcoin develops a megaphone accumulation pattern in a strong uptrend, and sentiment &...

ZenTradesRW Updated 

FET developing an Adam & Eve bottom above key support. Nearly 10 week base in a strong uptrend looks like it'll resolve within days. Sell pressure drying up (volume declining in the base) AI developments seem to be occurring consistently every month and is likely the biggest tech platform since the internet. FET led the AI names off the bottom + appreciated...

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Ocean protocol provides datasets that could be utilized for AI. May be ready to go for the breakout in the coming days. Similar setup to GRT and many of the AI names for that matter

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GRT is another AI play that looks ready to breakout for another leg higher. Successfully retested and now coiling under down trend resistance. Need to see big volume on any breakout. If so, likely heads towards $0.30

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Aptos looks ready to break the downtrend from an 8 week base. Clean retest of the prior highs with volume drying up in the base and RSI reset. Aptos may be the new Solana of this cycle given the high profile VCs that funded this one

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FET is putting in an 8 week flag with volume drying up in the base (sell pressure subsiding) and weekly RSI reset. Think this is ready to breakout and move towards the ATHs in the coming weeks. The Fetch Ignition campaign is 3-4 weeks of updates & announcements, which will likely act as the catalysts to get us there. AI is one of the biggest narratives that is...

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FET developing a solid ascending triangle above the 21 EMA. RSI has been reset and sell volume has been declining in the base. Think it goes for the breakout shortly. Ideally, FET heads for the ATHs and bases for 2-3 months before a big move this summer. AI names got a huge boost due to ChatGPT and is shaping up to be the narrative of 2023.