ARKK has gotten destroyed this year, but it's showed signs of bottoming after three green weeks. I think growth stocks have done enough correcting. SPY is at all time highs, but big names are still 40%+ off their highs in ARKK. I think after omicron becomes endemic (this is going to happen in 2-3 weeks), everything starts to go risk on again. ARKK and crypto are...
ETH is internet money after the NFT craze. DeFi and ETH have not gotten much love, lots have went into other L1. it's been a pleasure ranging with you, but it's time to go up
Since bottoming in July, we've followed a 45 day uptrend of around 70%, followed by 15 day downtrend of around 20%.
This goes 90k, 72k, 115k, 100k, 150k top, then back down to 72k bottom in May.
If you are of the opinion that we're in a bull market, then you should have DOGE in your portfolio. Bitcoin performs better in a bear market, but it underperforms doge by a long way in a bull market.
DOGE has been doing this consolidation song and dance since the bottom of March 2020. Big pump (9x), then 50% retracement, consolidation, big pump (8x), 50%...
It's kinda spooky that it's almost exactly a year ago today that we went parabolic with ETH and we're looking at very very similar conditions.
If we do 50% of what we did last year, then yeah, $30k is my target for ETH. Here's how this can happen other than just looking at a chart.
-Massive supply shock of the merge happening and more people being comfortable...
$GBTC is currently trading at a 13% discount to the Net Asset Value (NAV) of BTC held by the Grayscale trust. I think this means institutions are still more bearish than they should be on BTC, and once BTC cracks $50k with strength, they'll be rushing back in to buy a product like GBTC. Many still don't want to deal with the custody/security headaches of holding...
ETH got rejected from the resistance at around $250. If it broke that, I would look at the next resistance at around $270, but that wasn't the case. I'm still overall bullish about ETH, but I do think there is some room to drop before volumes return to re-test $250.
Would love to know other peoples thoughts too, I'm comparing the chart at the attached link to...
I'm looking for a bounce at around the $370 range. Last time the RSI was this low in the 1D filter, there was a bounce in between the 0 - 0.236 Fib level before it dipped even further down. I bought at $375 and I'm looking to sell at $400, $420, and $445 if we can get there.
Using MACD and RSI and 200 day MA are usually enough for me, as I don't day trade. I'm monitoring the convergence on the MACD and I have a feeling that we have a lot of room to fall here. Watching the support levels at 7200 to see if we can bounce, and then below that as well. I'm not a fan of shorting this market at all, I either am long or out. As of right now,...
