Move2Earn is gaining popularity w/ more projects similar to Stepn popping out the woodworks.
However, the overall market itself has not recovered and its honestly a sellers market. He who sells first, sells best.
Regardless, GMT has been performing relatively well and is currently in an accumulation or distribution phase currently. Naturally, It would be easy to look at this price action as a distribution phase (dump soon), however due to hype and FOMO along with potential earning ability thru Move2Earn, price can be inflated even more.
Looking at things practically though, there are clear options as to where to make the best trades w/ the highest r:r.
Shorting a break and retest of the range bottom
-Shorting from ATH
-Longing the retest from breaking the top of the range and praying to God.
As it stands, while GMT is providing a great return, I can only assume people will want to protect profit - by taking profit, and opportunistic traders by shorting.
There is a price inefficiency as seen on the volume chart where price would have little to no support given we have a break of the range bottom. That is the trade I'm willing to make and will be waiting for. I wont be trying to predict, only react. As seen on the chart, I'm prepared for any move.
However, the overall market itself has not recovered and its honestly a sellers market. He who sells first, sells best.
Regardless, GMT has been performing relatively well and is currently in an accumulation or distribution phase currently. Naturally, It would be easy to look at this price action as a distribution phase (dump soon), however due to hype and FOMO along with potential earning ability thru Move2Earn, price can be inflated even more.
Looking at things practically though, there are clear options as to where to make the best trades w/ the highest r:r.
Shorting a break and retest of the range bottom
-Shorting from ATH
-Longing the retest from breaking the top of the range and praying to God.
As it stands, while GMT is providing a great return, I can only assume people will want to protect profit - by taking profit, and opportunistic traders by shorting.
There is a price inefficiency as seen on the volume chart where price would have little to no support given we have a break of the range bottom. That is the trade I'm willing to make and will be waiting for. I wont be trying to predict, only react. As seen on the chart, I'm prepared for any move.
Komen:
Check out my latest analysis on $RUNE.
Komen:
Pull back to prev. all time highs and finding support.
From a spot position aspect, nothing to worry about.
Futures wise, I'd say best to wait for a bit more strength.
From a spot position aspect, nothing to worry about.
Futures wise, I'd say best to wait for a bit more strength.
Komen:
New Axie?
Komen:
Update:
Dont forget to check out my latest video on GMT and GST.
Currently playing out as expected!
Currently playing out as expected!
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
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GMT & GST
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