2023/5: Surfing CRO - Awaiting Exit eta now to end July
Updated
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Technicals:
1. Descending Triangle all the way from the Dec 2021 peak of $1 to Dec 2020 bottom of $0.055
2. Based on fractals, looking for a spike up with RSI overbought to sell holdings in
CRO
3. Fractals indicating a move all the way down until 4 December to $0.026
4. MACD marginally up currently, RSI oversold
Fundamentals:
1. None
Analysis:
1. Exit position upon next wave up
Technicals:
1. Descending Triangle all the way from the Dec 2021 peak of $1 to Dec 2020 bottom of $0.055
2. Based on fractals, looking for a spike up with RSI overbought to sell holdings in
CRO
3. Fractals indicating a move all the way down until 4 December to $0.026
4. MACD marginally up currently, RSI oversold
Fundamentals:
1. None
Analysis:
1. Exit position upon next wave up
Note
CRO: $0.0594Technicals:
1. Still as the dead sea
2. Overall direction is DOWN all the way until 1 December 2023
Fundamentals:
1. Nothing in particular
Analysis:
1. Still waiting for an event driven spike which crypto.com needs to sell its bag of cro into fiat
2. This will most likely be seen from RSI overbought indicator
3. I will update again as necessary, keep monitoring
Note
CRO: $0.0619Technicals:
1. Sudden spike in price
2. MACD is positive
3. RSI moving up
Fundamentals:
1. CRO price movements is always event driven, and right now, there is no news.
2. If this bump up is temporary (<1-2 days) and no news, it could be an attempt by crypto.com to manipulate price to sell its holdings for opex purposes (ads, f1, ufc all costs big money)
Analysis:
1. Price moving up as expected, will observe price action.
2. Exit eta end June, no change from previously forecasted, with the downturn of MACD/RSI
Note
CROUSD: $0.0518Technicals:
1. very weak MACD
2. very weak price action
Fundamentals:
1. SEC nuclear decision moved the whole crypto space down a few months
Analysis:
1. With macro events unfolding, unlikely to see a move up, excepting a huge buy order from crypto.com
2. Price will likely keep falling until end of year or next april after BTC halving
3. Generally, volatility of crypto is extremely weak and will change the interest in crypto for traders permanently
Note
CROUSD: $0.05737Technicals:
1. MACD printing its 4th day in positive
2. RSI is rising again
3. Long term trend is clearly DOWN to end of 2023
Fundamentals:
1. Blackrock and others filed a BTC ETF to SEC
2. Kris (CEO of Crypto.com) drumming up with 2 tweets in 2 days (about BTC, and about Powell saying BTC has staying power)
Analysis:
1. When Kris makes tweets, take it to mean he is running out of funds and needs to drum up the price to a significant level before dumping his cro back down
2. BTC ETF is a toss up, but I personally highly doubt it will happen this year
3. Keep watching price and potential for an exit. I find it difficult to exit before 12c.
Note
CROUSD: $0.05776Technicals:
1. Same as before, long term trend is DOWN to end of 2023
Fundamentals:
1. No change, crypto is dead
2. There may be some action before 30 August when Mane City launches, but don't want to jump the gun
Analysis:
1. No potential exit likely, much less, at 12c
2. I am closing this idea out now, will create a new idea if any potential emerges.
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