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Crypto Tuesday: Depression Phase

What stage are we in right now?

  • This is another example reinforcing my thesis that capitulation has already happened and crypto has entered an accumulation phase

Algorand / $ALGO

  • My Strategy:
    • I Dollar Cost Averaged into the “demand zone” and currently enjoying the upward momentum
    • My target for selling is anything above $0.33
    • Possibility we scrape the $0.33 line and dip back down, in which case I will add more to my position
  • The breakout from the red resistance line is a good sign
    • Line flipped to support and crabbed from there
    • Looking like there will be a move up from here – 4-Hour RSI has more room to the upside (daily RSI shows a lot more room to the upside)

Polkadot / $DOT

  • Polkadot’s founder, Gavin Wood, recently stepped down as CEO of Parity to take on the role of Chief Architect to focus more on the technology behind the Polkadot ecosystem and remains the majority owner of Parity
    • But of course, headlines across the crypto space simply read “Polkadot CEO steps down” and we can see a small panic sell where this should have been bullish news
  • $DOT continues to test resistance on the logarithmic chart and upward momentum seems to be completely lost
  • I am buying more $DOT on this dip below $6 and here is why:
    • With Gavin Wood (also co-founder of Ethereum) now focused more on tech, $DOT has an opportunity to market its product better with a different CEO focused on more attracting investors
    • The $DOT ecosystem continues to grow and remains the most developed crypto project on the market
    • If price comes near half of all time high on the next bull run, there’s an opportunity to grow 300% or more when buying at these levels

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Your investment strategies could differ from mine based on your risk tolerances, research, and time horizon, so I encourage you to do your own research as information provided by The Rebel Economist or Breaking Metrics should never be considered financial advice.