DEFI: lower highs suggest break of the support. Bitcoin analogAt the top we see here the DEFI index, daily chart, and below the weekly chart of Bitcoin (2018)
A series of lackluster rallies , lower highs on decreasing volume suggest that demand is really poor.
Institutions have quickly sold their assets off the top and run away from this market (RISK ON->RISK OFF MODE)
Lower highs suggest a break of the support. That break could trigger a final capitulation , where strong hands can come back again and absorb the supply. We have seen the same price action on Bitcoin in 2017-2018.
FULL ANALYSIS:
We have explored this case study in our Wyckoff Crypto Discussion, watch the full episode here:
www.youtube.com
Join us each Thursday for a discussion of the cryptocurrency market from a Wyckoff perspective!
DEFIPERP
Sideways action as Bitcoin pumps - long term long. Low mcap gem.As Bitcoin pumps, alts will drain.
The project is pretty solid. I will continue to load small positions in the range of $1 - $3
If this project hits 10 million market cap the price will be around $20
Most defi projects hitting 10 million market cap is super easy and with low supply it should be no problem.
Not financial advise - this is for entertainment.
DEFIPERP - Temporary relief and then continued drawdownI think what we're going to see here is a brief relief bounce, then continued move to the downside but with much less momentum than before.
Bollingers are contracting indicating the market is settling a little, Stoch is oversold so expect some relief in next few days. Currently at a support level with a lot of chart history.
But expect continued downside simply because hype is leaving this market, even if the market shall remain. DEXs are here to stay but DeFi autumn draws in.
Crypto Market Outlook and last bar analysis Hi Traders and Welcome,
Once again I'm going through the price action using Wyckoffian supply and demand analysis
At this point, we are in the trading range and showing some signs of absorption
While we're not out of the woods in terms of a bearish move, we're certainly NOT in a bear market yet!
Good luck and see you all in the market!
LONG DEFIPERP on FTX for 8% ProfitGood morning Europe and Good afternoon Asia (and Good night to the Americas)
Sharing a Long on the DEFIPERP Indices on FTX. This index also exists on Binance but I'm used to trading the FTX one
It's a weighted sum index of the DeFi crypto tokens. Very easy to trade because the movements are slower compared to individual DeFi tokens displaying sometimes -/+ 90% in a single day
Setup
Entry: In the purple box
This trade is a bit risky and isn't completely bullish just yet. Though, the setup looks interesting - that's why I enter cautiously with a pullback
Take Profit: Aiming a bit before the Daily Traditional Pivot R1
Cheers
Daveatt
Defi new pump?Volume on some big defi coins have just showing some action, looks like link was leading the move.
My idea was to long link on a retrace and buy a smart portfolio based on some defi major assets and rebalance them across various pumps.
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
COMPUSDT - Trend change?Looks like it reversed, break through strong $150 resistance and possibly $170 as well.Will try to catch a retest of $170 for a long, currently looks bullish for me.
Hit the "LIKE" button and follow to support, thank you!
Information is just for educational purposes, never financial advice. Always do your own research.
DeFi Index (COMP, KNC, LEND, MKR, KAVA, LRC, REN, REP, BNT, SNX)DeFi coins is hyping around crypto and here is TA for them.
On FTX we can see the DeFi Index based on charts of COMP, KNC, LEND, MKR, KAVA, LRC, REN, REP, BNT, SNX and ZRX (each coin is weighted equally). It can be traded at FTX with up to 100x leverage.
So on the price i marked all triangle shapes and found Giant Wedge
It already breaking out from it and possible will make sideways inside the triangle. Best way to avoid trading here and try to fix position in the Sell Zone. Or wait for the buy opportunity in the Support zone.
Thanks for your attention,
stay tuned
This is Artem Crypto
[DEFX] DeFi Breaking Bearish - Time for a retraceDecentralized Finance, the hot new projects making 5-10x in a matter of weeks. Will these 1000% gains be held over summer? It's only a matter of time before DeFI comes back to Earth, regardless of whether it will continue to be adopted by the crypto community.
Exepct this DeFi Index to drop hard if Bitcoin breaks below key support levels. This will be top of the list of high risk markets to be dumped if the overall crypto market is to take a fall. Market value is now below the MA Ribbon and cloud on the Daily, RSI is close to bearish, and it's a long way back down to the 100 & 200 MAs, as well as the lower levels of fib retracement 0.236 - 0381.
With parabolic moves come sharp corrections. It could take a while, but this market needs to cool down already.
That said, if Bitcoin continues to consolidate for more weeks/months, expect higher levels of speculation.