ZenTradesRW

ZenTradesRW

ATOM recently broke out of a 7 month base and now going for the ATH. Plenty of room on RSI to move substantially higher. Currently has a $9.5bn market cap. Using SOL as a layer 1 comp at $45bn, 4-5x over the next 2-3 weeks doesn't seem unreasonable.

ZenTradesRW Updated 

Layer 1s have shown big relative strength recently as I believe it's that time of the crypto cycle that these large caps go parabolic (SOL gave us that signal). ATM, ALGO looks to have the best chart looking at the recent volume patterns and consolidation above the recent highs. I believe the past two days is a simple shakeout before this goes on a huge run over...

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MATIC bouncing hard off support and showing big relative strength today, hanging out near the high of the day, while the rest of the altcoins (incl. Ethereum) are near their lows of the day. Two large developments acting as catalysts: September 14 - Announced partnership with EY's blockchain services division September 17 - Announced that it will be listed on...

ZenTradesRW Updated 

DOT is lagging the L1 pump after SOL, ALGO and ATOM but likely to catch the wave very soon. Flipped the 200 day as support and bouncing strong at the open. Think this gets going shortly.

ZenTradesRW

On the recent crypto dump, MATIC held support and a bullish megaphone accumulation pattern has developed. Looking for this to move towards the top of the megaphone and eventually breakout for a run over $2.00. Not much resistance above so will get interesting on the breakout. Additionally, seeing some bullish price action in some of the alts, signaling a more...

ZenTradesRW Updated 

Classic ascending triangle pattern. Tightening up here. Looks almost ready to breakout and take a shot at the ATH . Some educational notes in the chart.

ZenTradesRW

Flag forming w/ breakout in coming days if Bitcoin can defend 200 day. Big volume on initial breakout to ATH. Measured move to $100+

ZenTradesRW Updated 

MATIC short-term consolidation via flag pattern w/ a measured move to $2.00. Medium-term consolidation via inverted head and shoulders w/ a measured move to $2.30. Anything can happen if we rip through these resistance areas as there's not much resistance beyond that and FOMO will kick in. SOL proved that to us recently. Couple things I really like about MATICs...

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Bitcoin coiling around the 200 day for a final leg higher before its first real consolidation from the July 2021 lows. EW technicians would say we're setting up for leg 5 higher before ABC correction. Bitcoin clearly broke the downtrend on big volume so traders should lean bullish and buy dips. If we get this correction in September, would be a great setup for...

ZenTradesRW

COMP forming a classic cup & handle above the 200 day. If Bitcoin can hold the 200 day, think this breaks out shortly. Measured move is to the $700 resistance

ZenTradesRW Updated 

Bitcoin experiencing a huge short squeeze / lockout rally that is taking a pause at range highs and consolidating under the falling trend line to wear off some near-term overbought conditions (RSI reset). If bulls can keep control, we should hold $38.3K and take a shot at the 200 day shortly. Altcoins likely to rip on the next leg up on Bitcoin. The higher we go,...

ZenTradesRW Updated 

MATIC coiling under resistance on declining volume and getting tight. Looks ready to breakout any day now. Strange that I haven't really seen much talk about this setup as Ethereum and a few others have taken the spotlight. Makes me more confident that it'll follow through. Once we break over $1.25, FOMO will start to creep in.

ZenTradesRW

SOL broke out of the symmetrical triangle (200 day as support), retested and looks like its continuing towards the ATH near $50. I'd expect a consolidation there as the RSI would be pretty heated by then, but then blue sky breakout to follow This looks to be one of the leaders in crypto atm from a technical standpoint.

ZenTradesRW Updated 

Looking for MATIC to start a massive short squeeze as Bitcoin rebounds. Momentum stocks are basing nicely with some already breaking out, and crypto has largely traded in-line with momentum stocks as a risk-on trade. Most importantly, the Fed is still accommodative. MATIC made a huge run prior to the correction and is one of the top performers YTD. Only big money...

ZenTradesRW Updated 

Idea on the chart

ZenTradesRW Updated 

Low volume, false breakdown (shakeout) will be followed by epic short squeeze. Past weekly volume was lowest since October 2020 meaning institutions & other large players have stopped selling. The more recent decline has come from short sellers and retail. This is a bottoming process. Many other altcoins looks to be in the depression phase of the market cycle w/...

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Inverse head & shoulders in the works. After a parabolic move, the chart will take some time to rebuild. Additionally, the sharp rise in interest rates have hurt all growth stocks (higher discount rate = lower valuations) and the pain likely isn't over. Look for bounce early this week (possible gap fill) as fund managers re-deploy capital from month-end...

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All ideas in the chart.