One of the fundamental principles of trading and investment is being patient and preserving your capital.
Another one is to buy assets with strong fundamentals that you that you’ll be willing to hold for at least five years.
Today, we are breaking both rules!
Why? We found some amazing trading opportunities that are just too good to pass up.
You know, those opportunities that can boost the performance of your portfolio like rocket fuel. And the best thing? There are plenty of them, even in the current market.
Are you ready to break some rules to make some bucks? Let’s go!!!!
TLDR 📃
- The major coins (BTC & ETH) are not in the “opportunity circle”. Although there’s an upside on the horizon, there are other more promising picks there in the wild.
- BTC has a high chance of bottoming at $28,750 and heading for $32,000 and above. When this happens, the market will rally – and rally fast.
- However, even though the market looks like it’s ready to pop, it is still too early to risk-on.
- In the meantime, some assets provide an opportunity to snatch profit out of the jaws of the bear.
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
Loser turned into a winner?
Just ten days ago, GMD lost support after closing under a local supporting channel that sustained the trend for a while. Since then, it’s suffered an ~18% drawdown with no breathing space.
However, GMD somehow found demand and has a chance to get into the spotlight. $73.60 is holding perfectly, and the asset is rising and on track to regain the channel we lost ten days ago.
From its current price, GMD has ~18% of potential gains in the short term.
Once you back those gains, we expect the previous support channel (which now acts as resistance) to reject GMD’s price and push it lower again.
In essense, this is a quick dash for profit, don’t fall in love with your bag.
Polygon | MATIC
dYdX | DYDX
Optimism | OP
GMX | GMX
Aave | AAVE
Frax | FXS
The short-term KING 👀
This isn’t the first time we shared our expectations on MKR. In fact, we profiled this stock in last week’s report, and the price has gone up by ~23% since then.
While you are late to that party, there’s a chance to get into the afterparty.
So, while the ideal entry is long gone; MKR’s rally won’t stop anytime soon as it remains on track for the $1,630 - $1,825 resistance region.
There’s still a solid opportunity in MKR.
However, your best play is waiting for MKR to retrace a bit before finding another entry. After all, you should never buy a top.
Cryptonary’s take 🧠
The beauty of bear markets is that even when prices are mostly stagnant or choppy, there are still some window of opportunity to snatch profits from the jaws of the bear.
It’s all about paying attention, getting the right information, and moving at the right time – more reason to join Cryptonary Pro.
In the famous words of Warren Buffet, "be greedy when others are fearful". The bear market is often a period of overwhelming fear, but if you’ll dare to break some rules you can still score big wins.
Now, the opportunities we’ve presented today are for the short term. If you’re interested in our high-conviction picks, which we’ve added to our portfolio, check out the latest edition of Skin in the Game.
Action points 📝
- Since these are short-term opportunities, treat them as such! The key is to enter and exit (in profit) as soon as possible, which means you cannot get attached to the trades.
- The success of these trades depends on Bitcoin performing well. Despite the high chances of that happening, it’s best if you try to have invalidations for all of your trades to avoid big losses.
- Do your own research & analysis before hopping on any of these opportunities.
- 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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