However, if you look closely enough, you can still spot a few good plays.
No matter the timeframe and the market’s general state, there will always be one golden fruit to pick.
But we’re Cryptonary. We didn’t just find a single golden fruit. We found an entire orchard of golden fruits.
Are you ready to 2X your portfolio? Today, we feast 😉
TLDR 📃
- The market is full of opportunities, and we just cherry-picked the ones that look the most promising.
- Many of the assets we profiled today are at the cusp of breaking out; here’s your chance to buy the rumour.
- However, risking-on completely right now is not a smart idea. We’re still in dangerous territory until we break through some resistance points.
- Although Bitcoin remains at resistance, we’re still bullish on the market, but we’re not ignoring the risk of invalidation.
Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. “One Glance” by Cryptonary sometimes uses the R:R trading tool to help you understand our analysis very quickly. They are not signals, and they are not financial advice. Any capital-related decision you make is your responsibility and yours only.
Bitcoin | BTC
Ethereum | ETH
Here’s the juiciest pick of the bear market
MKR has seen a significant increase since testing support at ~$510. This move helped create a double bottom pattern, which is being validated at this very moment.
There’s just one thing that needs to happen first: a weekly closure above the pattern’s neckline, sitting at $975 (the white line). Ideally, we’d look for a break and retest that level.
Even better, MKR’s volumes have been rising in confluence with its price, which means we’re actually looking at a strong breakout!
Solana | SOL
dYdX | DYDX
Optimism | OP
GMX | GMX
Tron | TRX
Frax | FXS
Another high potential pick in the making 👀
You’re seeing a descending triangle fiercely waiting for a breakout.
Now, it’s true - descending triangles often tend to break to the downside, but we can see that buying volumes have been increasing in the past weeks, and AAVE is just under resistance. Of course, there’s the risk that the price is rejected from resistance, which is we will need a weekly closure above the channel as confirmation. This will move the odds of breaking to the upside in AAVE’s favour, and the final target is $115.50.
Cryptonary’s take 🧠
Now, we’ve presented you with many opportunities, and it can be hard to determine which to pursue. We think this is a good problem to have, especially in a bear market.If you are struggling with the “Which one will outperform?” question, the key is to remember that every investment opportunity comes with its own set of risks and potential rewards. Consider your financial goals, risk tolerance, and investment horizon before diving into the market.
Action points 📝
- These are just our personal views on certain assets in the market. If you decide to trade or invest, do so at your own risk with your strategies.
- Don’t treat this like a free-for-all extravaganza. Try dollar-cost averaging; it’s a cheat code for crypto investing!
- Got questions? Hit us up on Discord in the “🌎・general” channel. We’re happy to help.
Cryptonary, out!
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