CRV first out the alt stable door?
I know going long alts in this market is bonkers if you spend anytime on crypto twitter, but all noise aside and based purely on short term PA and TA, and provided BTC can hold its shizzle together. This is my sort of play.
Narrative. Curve produces yield from stable coins. Once everyone stops fudding every stable coin out there. Curve will continue to be one of the safest places to yield out there and I'm assuming the curve wars are still a thing, right?
I've not got my finger hot on the pulse but word was curve would be releasing their own stable coin. Transparently over-collateralised I hope!
1. High time frame swing fail of the yearly low.
2. Price is compressing into a bull flag/ decending wedge type formation. Either way its sucking up any demand side liquidity.
3. Price has tried and failed to break and close below this key support/ daily close.
4. Enter now with a small size and a couple of laddered buys further down if your a degenerate gambler like me trying to claw back a bank roll after SBF and his hoe nicked it all.
5. Or if you're a seasoned pro with patience and experience on their side. Wait for a breakout of this wedge and enter on a retest/ market structure break, provided BTC, ES, NQ etc..... hold its shizzle together and bear market rallies are still a thing.
6. Cut all entries on a clean break below the previous swing low as theres no more liquidity to grab down there, just a long way down.
7 Targets are a conservative TP1 at range high [32%], TP2 at Daily fair value gap [54%] and TP3 at previous weeks high [87%]
8 . If this doesn't work out I'll have fun staying poor.
Narrative. Curve produces yield from stable coins. Once everyone stops fudding every stable coin out there. Curve will continue to be one of the safest places to yield out there and I'm assuming the curve wars are still a thing, right?
I've not got my finger hot on the pulse but word was curve would be releasing their own stable coin. Transparently over-collateralised I hope!
1. High time frame swing fail of the yearly low.
2. Price is compressing into a bull flag/ decending wedge type formation. Either way its sucking up any demand side liquidity.
3. Price has tried and failed to break and close below this key support/ daily close.
4. Enter now with a small size and a couple of laddered buys further down if your a degenerate gambler like me trying to claw back a bank roll after SBF and his hoe nicked it all.
5. Or if you're a seasoned pro with patience and experience on their side. Wait for a breakout of this wedge and enter on a retest/ market structure break, provided BTC, ES, NQ etc..... hold its shizzle together and bear market rallies are still a thing.
6. Cut all entries on a clean break below the previous swing low as theres no more liquidity to grab down there, just a long way down.
7 Targets are a conservative TP1 at range high [32%], TP2 at Daily fair value gap [54%] and TP3 at previous weeks high [87%]
8 . If this doesn't work out I'll have fun staying poor.
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