PHB/BTC LONGTechnicals: On the daily chart we can see that we broke past both 50 and 100 MA and found resistance at 200 MA. We are now consolidating inside the cloud of which I believe we will brake out from within a week from now. 50 and 100 MA will also cross bullish around that time and we are about to get a bullish kumo twist. There are tones of bag holders in the 30-55 sat range so thats where I believe the next resistance will be. Clear that range and it should be blue skies.
Fundamentals: PHB recently merged with Apex and are together creating a new Defi platform called Horizon on Binance Smart Chain which is set to launch this quarter. The 100m supply for Horizon (HZN) will be 100% community owned. No team or VC allocation and you will only be able to obtain HZN by staking PHB. This should create incentive for both projects to rise in vanlue.
We havent really gotten a full blown alt season yet, especially not for low cap coins. BTC.D still has plenty of room to go down and ETH/BTC has just made its first leg up. Its lagging grossly behind ETH/USD and BTC. I think we are just waiting for BTC to actually top out and that, of course is the most difficult thing to predict. At what price and when.
These are just my opinions and should not be taken as financial advice.
