What if we told you that one asset pulled a 42x increase since the start of 2023?
That’s right, a 42x smack dab in the middle of a bear market. That had to break a record of some sort.
Unfortunately, that’s now old news; that ship has sailed.
The good news is that there is a second chance at accumulating at lower prices and catching the next flight. 👀
Want to know all about that? Then, let’s dive in and see what the market offers!
TLDR 📃
- We have our eyes on quite a few trading opportunities in the short term. All will be affected by Bitcoin’s price action, so you need to watch its price like an owl 🦉.
- One asset pulled an impressive performance, but it’s now going down. We got you covered with a potential level to accumulate from. SPOILER: The asset is very volatile.
- Bitcoin is still in the “what now?” territory - that’s indecision at its finest. However, our eyes stay on $32,000.
- Instead of analysing the top 10 assets by market cap (excluding stables), we’re now introducing new assets and opportunities each week!
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.
Ethereum | ETH
Avalanche | AVAX
Introducing the parabolic demon…
YTD (year-to-date), this asset has pulled a whopping ~4200% in gains - that’s 42x!
The asset we’re talking about is PENDLE.
It recently experienced a significant rise from $0.52 to $1.80 in just two weeks but later saw a crazy amount of selling pressure and closed last week’s candle in the red.
Fun fact, we invested in it in our Skin in the Game portfolio when its price was just $0.15! Check out our latest edition here (only for our pro members, though 👀)
Now, it is headed back to $0.52 to retest this level as support, and we view this level as a perfect place to accumulate from. Still, you need to know that this asset is very volatile - we’re talking 5% - 10% moves daily.
Now to the other interesting assets.
Solana | SOL
Shiba Inu | SHIB
TRON | TRX
Litecoin | LTC
GMD Protocol | GMD
Polygon | MATIC
Bitcoin | BTC
The king of crypto is still in the “what now?” territory…
As expected, the CPI numbers on the 12th came in positively. However, we haven’t seen Bitcoin moving too much since then. In fact, we’ll likely keep on moving sideways for a while.
Of course, that’s not exactly exciting, but it is what it is.
Bitcoin’s performance drives the performance of the rest of the altcoin market.
Imagine having a perfect opportunity for big gains before you, only to see it go down the drain because Bitcoin is having a bad day. That would suck, right?
Well, that leaves us with two scenarios to expect in the short term:
1️⃣ Bitcoin breaks $32,000 and flips it into support. This could start another run up to $35,000 or even $40,000.
2️⃣ Bitcoin breaks $28,750, and the road to $25,150 begins.
Again, anything can happen!
Cryptonary’s take 🧠
Despite all the opportunities visible in the graphs, the market is still in a rough spot and there are no risk-free decisions.
As far as we know, anything can happen, so keep that in mind when jumping on even the juiciest opportunities.
That said, we think Bitcoin will manage to break $32,000 and go higher, but only time will be the decisive factor.
Action points 📝
- You must actively monitor Bitcoin’s price action in all scenarios. The market cannot perform well without the king’s say so 👑.
- If you aren’t into short-term trading? Try dollar-cost averaging; it might do wonders for you!
- Got questions? Hit us up on Discord in the “🌎・general” channel. We’re happy to help.
As always, thanks for reading.🙏
Cryptonary, out!
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