Art of the Chart - TAking Requests!
Hello everyone!
Thanks for tuning in again!
Let’s review our Total MC chart:
Total MC - 6H - click to view:
We’d been watching the catalyst area (outlined in yellow above) for some time now; since early September or so. We got a strong rejection from this area, as expected...
I outlined that this catalyst would be significant, considering it was the rejection of two very clear long-term trendlines, but I didn’t anticipate price would pull back hard enough to break the upward sloping trendline containing price since 7/19. Unfortunately, it has. I did clearly outline in my last episode that if it DID break… well… I’ll just copy & paste:
”Thesis invalidated on a break-and-close below the yellow boundary line + below the green support area. This is unlikely. If we do get a close below these 2 levels, I will be selling 100% of my stack to stablecoins.”
I’m hoping we see the chart above follow the trend I’ve outlined in dark yellow, then we get the next leg higher in mid-to-late January. Unfortunately, that’s the time people may be forced to sell some of their portfolios to cover their tax bills from 2021, so we’ll track this carefully.
For now, please toss your requests in the comments below, as usual!
Until next time…
CC
Disclaimer:
Cryton Capital is not a registered investment advisor, legal advisor, tax advisor, or broker/dealer. All investment / financial opinions expressed in any-and-all posts on this page, including screenshots & captions, are from the personal research and experience of the owner, and are intended to be interpreted as educational material only. Although best efforts are made to ensure that all financial charts and commentary are as up-to-date as possible, there may be times where price moves beyond key levels before the chart can be posted. Alas, this is part of the fast-paced financial sector and cannot be avoided. Also, occasionally unintended errors and/or misprints may occur.
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I think we're at a turning point. Our direction will be clear this week. My positions are open. I didn't turn it off or put a stop to it. That's why I'm watching it with curiosity.
Can you check the ftm/usdt. It's a network I like. Frankly, I'm curious about your analysis. Thanks in advance.
Thanks for the nice ideas.
You know what my request will be :D
VRA. And I would be grateful if you can take a look at KDA