ZenTradesRW

ZenTradesRW

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.

ZenTradesRW Updated 

Weekly chart of the S&P 500 going back to the 1970's. Looks like we're just coming out of a large correction within a secular bull market. With the rise of ChatGPT, I believe we're just about to kick-off the Roaring 20's tech bubble led by artificial intelligence. Other tech platforms that will stir up the market's animal spirits and eventual mania include...

ZenTradesRW Updated 

MATIC has formed a classic Stage 1 base (accumulation) for the past 6 months and one of very few coins in this market structure. Think we'll likely see a breakout to stage 2 shortly, which is when dips to the 21/50 day are for buying. Plenty of room on RSI for a big move here. The catalyst that I think could launch MATIC to ATHs is the release of zkEVM mainnet in...

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Bitcoin broke the downtrend without looking back on heavy volume. For the next few months, think it's best to simply hold through the momentum as their will be shakeouts that will make it difficult to trade. The shakeouts will reset the momentum indicators like RSI. Thinking three legs up before a more meaningful correction and chop. The second and third legs...

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ARKK setting up an 8 month falling wedge on the weekly timeframe. Looks like it's coming to an end...Santa rally in the cards (post-Christmas)? The last few days making everyone lean bearish after the FOMC could be setting up for a big short squeeze

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BTC may be putting in a classic double bottom where the second low undercuts the first. Sentiment is always much worse on the second low, which creates the recipe for a shorts squeeze, lockout rally like early 2019. Getting over the 100 day (orange line) which has been key resistance this year is the first step, and would be highly constructive.