How do you know which ones to buy, hold or sell? Let’s be honest, it can be tedious. But sometimes, some tokens push themselves into the limelight, screaming at you to pay attention.
Today, we’ve got 5 assets for you across low-risk and medium-risk assets, and we included a wild card that could potentially send your ROI through the roof!
Of course, these are not the only assets building up momentum in the market, but this is a good starting point as we close out August.
TLDR 📃
- This week, we’re presenting our wild card – a high-risk / high-reward play not yet in our Watchlist and Portfolio but now firmly in our crosshairs.
- This opportunity is time-sensitive. The token is fairly new but caught enough attention to sustain healthy range-like movements, some of which we can profit from.
- Besides this wild card, the four other tokens are a must-watch. One of them rules the market, so it’s necessary to understand its current state.
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.
Cryptonary’s portfolio 📁
Our portfolio contains BTC, ETH, ARB, DYDX, LDO, SNX, FXS, LBR, THOR & XAUT, but these are the three (potentially) biggest short-term movers we’ve spotted:BTC | Bitcoin
Still boring, but not for long…
Ever heard of the RSI (Relative Strength Index)? It’s a technical indicator to identify whether an asset is overbought or oversold, but let’s see how it helps us understand where Bitcoin can go from here!
What you see on the chart is Bitcoin’s daily timeframe. The purple line at the bottom is the RSI. We can see it dropped quite a bit inside the oversold area recently, and since then, it has found its way back up.
The best thing? Bitcoin is not only oversold but also close to support. Put simply, we now have two factors that point to a single direction - UP! The only deal breaker would be a weekly loss of $25,150.
DYDX | dYdX
DYDX is definitely cooking…
The price action from two weeks ago was a mess. We saw DYDX dropping 23%, reaching $1.80 as support. But here’s the most interesting part - DYDX fully recovered from the dump and is now on its way to $2.50.
DYDX has created a bit of momentum on its own, so we can easily see its price reaching the resistance point. The only concern would be if BTC start dumping again, but it will only experience minimal loss before reaching support, so we’re not worried yet.
THOR | THORSwap
Since peaking at $0.45 three weeks ago, THOR saw a lot of selling caused by market participants taking out their bags. That’s understandable, so we’re not worried about its performance. The confusion comes into play when we look at last week’s candle. We can see a weekly closure under $0.20, which opened the doors to $0.13. For now, there are only two things you need to pay attention to: 1️⃣ THOR drops to $0.13, offering us a lower entry price. 2️⃣ THOR reclaims $0.20, after which it will likely set a bottom and start rising to its next resistance between $0.26 - $0.30. Either of the two provide solid trading/investment opportunities. Stay tuned for updates in our Discord!
Cryptonary’s watchlist 🔎
Our watchlist contains DOT, SYN, OP, LDO, ASTR, SNX & MINA. But today, only one asset takes the spotlight…ASTR | Astar Network
Something urgent has come to our attention…
Last week, ASTR failed to break past resistance and formed a local top. Now, the asset is headed back to the $0.0550 support level, where we expect a strong bounce.
In the past weeks, ASTR has created its own momentum, and it rode that momentum to outperform the market despite the general bearish sentiment. That makes it an interesting asset to own or trade.
Cryptonary’s wild card 🃏
In the world of trading bots, UNIBOT has made a name for itself recently.UNIBOT | Unibot (4h timeframe)
For the past month, UNIBOT has been trading inside a range between $220 and $100. We saw multiple tests of both sides of the range, and just a few days ago, we saw its price bouncing from the lower end of the range.
We’re capitalising on the hype by saying UNIBOT will continue its trend and reach the upper side of the range, sitting between $220 - $200. There’s a lot of attention behind the token, and this is a very quick trade, so time is of the essence here.
Even better, this token is primed to go for all-time highs if it can maintain the traction.
Cryptonary’s take 🧠
The market is slowly but surely going to recover.With Bitcoin at support and oversold, this is not the time to be fearful; it is time to dive in.
We strongly believe that now is the time for accumulation, but you will stumble upon trading opportunities you cannot ignore.
And even if you are a long-term investor, taking advantage of short-term trading opportunities provides a cheat code for increasing your investment capital. So, ensure you are taking advantage of all the options available.
Expect a monthly update on the 1st of September, where we’ll be going over what to expect in the last quarter of the year and which assets have gained our conviction for the next months.
Action points 🎯
- With Bitcoin wiggling just above support, we’d say now’s a good time to invest. However, we recommend a DCA (dollar-cost averaging) rather than going all in.
- If you are trading, a few calculated bets are the safer way to go in the current market. Find out how we’ve invested $15,000 in our latest SITG for your education.
- Remember that assets like ASTR & THOR are good investments, but they're much better opportunities. You can choose to capitalise on both sides by taking advantage of their volatility - you get in, take profits in the short-term, and reinvest for the long-term.
- Got more questions? Hit us up on Discord in the “✍️・traders-pit” channel!
Cryptonary out!
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