Members Breakdown – 28 April 2021

BTC

Despite BTC's recent rise in price, we cannot state that it is bullish until $57,000 is reclaimed on the daily timeframe.We must ALWAYS maintain rational thinking in this market The moment wishful thinking begins is the moment losses roll in.

ETH

DOT

DOT bounced off of $27 Interesting when it overtakes $40 again. Until then probably some boring sideways price action.

SNX

Bounced off support. Our take is that the bottom formed at [$12-$14] could be further pullbacks to that region again. Generally, we do not like saying "X has bottomed", but we think there are reasonable odds that SNX indeed has bottomed. The real test is going to be $23.60 If/When this is overtaken on the daily timeframe, it would present a great long opportunity with a high R:R.

RUNE

RUNE gave people a chance to get in at low two-digits and bounced back up. Support is $12.85. We'll need to see the market accepting price above $15 for further upside. Fundamentally, there is no reason for that to happen yet given there are limits on MCCN for providing liquidity From a speculative point of view, that could happen once people start seeing that limit removals are likely to happen soon. Which we are not at yet. The removal/increase of limits will help increase demand on RUNE significantly Even though we are avid fans of 30X and heavily invested we will ALWAYS stay rational and objective.

FTT

FTT under $50 (even now) is undervalued. The price has reclaimed the $50 level of support and broken through the counter-trendline that was acting as resistance. Next step is a daily closure above $56.50 and we'll have price discovery once again on FTT.

XRP

$1.25 is now support. Hoping it holds so we can see $2 and TP some more on XRP.

AAVE

Our original invalidation was a daily closure under $340 which happened for one day.

We saw a fundamental catalyst: Liquidity Mining Program on AAVE and hence decided to wait a couple days before pulling the triggerWe are still in our AAVE long (spot)

SOL

Check out the precision, absolute pico-bottom plotted. The accuracy is the result of endless hours of practice, literally thousands of hours. Hard work pays off.

Never believe anyone that tells you otherwise - anyone who says it doesn't is just lazy. Bullish market structure is holding perfectly. Still long and still targeting $100.

SRM

$8.25 has turned into support. We saw a 2 digit number. Next we are awaiting a two-digit number that starts with 2 (i.e. $20)

That is our target.

RAY

BREAKOUT OCCURED As stated yesterday, we aped into RAY. Invalidation is simple: daily closure under $12.50 Target is also simple: $90 OMEGA REWARD:RISK

 

Disclaimer: Not financial advice nor any sort of recommendation.