There’s no doubt that the market is at the cusp of breaking out – but the “when” is the million-dollar question. Good thing we’ve answered that before 🥱
Waiting one more week or month doesn’t mean much if you are set to collect a million dollars.
Well, maybe not a million dollars, but if the market does what we think it’s about to do, you’ll be smiling all the way to the bank.
But while waiting for the bull to return, the Cryptonary oracle has revealed what tokens are ready to pop, and today, we share its findings with you.
Are you ready to make bank? Let’s go!
TLDR 📃
- We found three new opportunities this week, but peep this - one of them did a 4X in 6 days recently, and we just saw a window for a cheaper entry point.
- We updated our position on two previous trades.
- Overall, the market can either explode to the upside or push us into weeks of boredom.
- However, we’ve identified a major risk in crypto, one that can invalidate all upside – so this requires rapt attention.
The audio version of this weekly analysis is available here.
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 quickly understand our analysis. They are not signals, and they are not financial advice. Any capital-related decision you make is your responsibility and yours only.
The child prodigy of crypto ✨
Make no mistake! This is alpha, and you are getting it for free. But there is more where this came from, so sign up for a Cryptonary Pro membership to get more insights.What you see here is the market’s spotlight. Last week was all about THOR, as it surged over 400% in the past week. Many of our members were invested in THOR - they made bank, and they’ve now taken their profits.
But what about those that missed all the green?
Well, it might be your lucky day because we’ve spotted a second window to get in. Since topping at ~$0.45, the price of THOR has descended back to the $0.30 - $0.26 support region. Think of this region as the ultimate safe zone for good reason.
After such extended moves, retail investors are eager to jump back in and catch the pump again. Many people expected THOR to break past $0.45 easily, but we waited - and the time to buy is here. The ideal entry would be $0.26, but any price inside the $0.26 - $0.30 region will provide solid gains.
However, dropping under $0.26 will invalidate THOR’s upside and put it on track for $0.20.
Our plan to capitalise on XRP
The hype around XRP has dried out since their win against the SEC, but that doesn’t mean the charts haven’t caught our attention. XRP has slowly descended in the past weeks, almost reaching the $0.56 - $0.51 support region. This will be a major accumulation area in the short term, purely because this is a clear retest of support after breaking past it as resistance in July. Here, we expect the price of XRP to range for a while, after which a bounce to the upside will follow.
A textbook opportunity? 📕
ASTR is not playing around…
Yesterday, we saw ASTR drop to $0.0550, where we were expecting some buying pressure to come in. Today, we’re already seeing a strong reaction from the buyers, and we’re quite confident ASTR can continue rising from here.
The only deal breaker? We’ll need $0.0550 to hold; otherwise, more downside is inevitable.
High potential, but not there yet ⌚
MKR makes another appearance and for a good reason.
In previous reports, we’ve mentioned that we’d rather wait for a lower entry than its last price. Today, that scenario might become a reality. We’re seeing MKR descend toward support at the white line ($980), where we expect demand to start coming in again.
However, demand can be found even before testing $980, so we can’t miss out on the green. Still, we’ve got other opportunities on the waiting list, and we’d rather wait for $980 instead of entering around the current price on ASTR.
Bitcoin remains king; here’s why👇
We’ve given you the opportunities, but one thing keeps everything alive!
Bitcoin has been trading above the ultimate threshold for the past three weeks - $28,750. We saw this level as the bottom, but our expectations are now challenged.
Today, the price of BTC slightly dropped under $28,750. Daily drops under the level are fine, but what’s extremely important is for it to close this week above support. The entire market depends on it.
Assuming BTC pulls through and meets our expectations, we are still on for a pump to $32,000 and above.
However, losing $28,750 as support on the weekly timeframe will put us on track for $25,150 and most likely invalidate ALL of the opportunities we’ve shared with you. We’re skating on thin ice here, so you should be careful.
Cryptonary’s take 🧠
We’ve had quite the alpha lying at our feet in the past weeks. Opportunities are endless but can end if circumstances aren’t right. We’ve given you our expectations for Bitcoin; whatever Bitcoin does will impact how well the newly-found opportunities thrive.When Bitcoin sneezes, the rest of crypto catches a cold – so pay special attention to what’s happening with the king, and you’ll make informed decisions about the rest of your portfolio. By next week, we’ll have a clear indication of how the market will continue to develop throughout Q3, so stay tuned for an updated report next Thursday!
In the meantime, brush up on all the opportunities we’ve spotted in the past weeks here! P.S.: You don’t want to miss out on any. 😉
Action points 🎯
- Although all opportunities have specific invalidation criteria, Bitcoin losing support is the ultimate invalidation.
- THOR is the most interesting chart in the market right now, so we’re making an educated guess. Of all the opportunities we’ve shared over the past weeks, we believe THOR has the highest potential for opportunity-taking.
- Got more questions? Hit us up on Discord in the “🌎・general” channel!
Cryptonary out!
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