#HODL 023-Chart Analysis
Crypto Monthly Chart Update
Here is your monthly analysis of the top crypto that HODL Avatars consider the best ecosystems for fundamental growth.
I keep my charts as simple as possible:
Long-term trend channel (longer than 1 year)
Moving Average (200simple)
BTFD / HODL & Take Profit Zones (based on 1)
The bear market is still in play & caused a major risk-off sentiment of the entire market.
Build in the Bear is the motto for this phase - with these prices it is the best time to build a position.
If you entered into any market earlier “stocks or crypto” you will see how price does not reflect real fundamentals - rather price reflects sentiment. Good tech stocks as well as good crypto projects are going to be at a discount - take your time to step in slowly over the next few months. Bear Markets normally last at least 1 year so I would advise thinking about building a position into end 2023 , take your time add small amounts each month.
BITCOIN
BTC has performed 231% since January 2020. It has moved into the centre of a long term price channel. BTC is now at fair value and as it moves into the lower half it becomes a buy
Probabilities: BTC is in the BTFD Zone - it hit the $19000 - $20000 support that I was looking for and so I have been adding weekly.
ETHEREUM
ETH has performed 1390% since January 2020 and has moved into the middle of the channel. This places ETH in fair price value
Probabilities: ETH is in the HODL Zone, the merge is coming up & does increase a risk if it does not go well. Make sure you have Stop/Loss in place to protect these gains.
BINANCE
BNB has performed 2333% since January 2020 it has moved into the centre of a long term price channel
Probabilities: BNB is in the HODL Zone, dips below $200 into the lower half of the channel will attract buyers & would be BTFD opportunities.
SOLANA
SOL has performed 2301% since January 2021 is still in an uptrend. This has been an exponential move in such a short time-period
Probabilities: SOL is in the BTFD Zone based on its channel however given the exponential move & that it has broken below the channel it could see further downside - support seems to be building around $30 - 40 Make sure you have Stop/Loss in place to protect these gains.
CARDANO
ADA has performed 193% since January 2021 is still in an uptrend. This has been an exponential move in such a short time-period
Probabilities: ADA has moved into the BTFD Zone finding support around $0.40 - 0.50
POLKADOT
DOT has performed 70% since January 2021 & has seen a major distribution correction
Probabilities: DOT is in the BTFD Zone however its breakdown below channel support is negative & signals poor sentiment, support seems to be building around $6 - 8 it can be a good entry.
AVALANCHE
AVAX has performed 279% since January 2021 is still in an uptrend. This has been an exponential move in such a short time-period
Probabilities: AVAX has moved into the BTFD Zone & could be a good entry point around $18 - 28
COSMOS
ATOM has performed 92% since January 2021 & has had a major correction from its highs
Probabilities: ATOM is in the BTFD Zone while it is being accumulated. It is currently in a good entry point with buyers active around $8 - 11
CRONOS
CRO has performed 129% since January 2021 is still in an uptrend. This has been an exponential move in such a short time-period
Probabilities: CRO is in the BTFD Zone with active support around $0.11 - 0.15
OSMOSIS / JUNO / STARGAZE / EVMOS
YTD = the main COSMOS ecosystem tokens are still in price discovery phase, this normally takes place during at least the first year as adoption of its platform & technology occurs.
Probabilities: This latest bear market has caused good discounts in price, these dips would be BTFD & entry opportunities.
We do hope you like this information, let us know in twitter or here any other aspects that would help you.
Till next week…HODL on…this is the way!