Avenger Call – 18 Jun 24

00:15: Shutting down my Delta portfolio due to recent price drops.
07:17: Recent BitTensor hack where 28,000 TAU tokens were stolen but quickly converted to other cryptocurrencies.
10:32: Potential approval of Ethereum spot ETF on July 2nd and how this could inject cash into altcoin markets similarly to what happened with Bitcoin ETF approval in January.
13:51: Likelihood of Bitcoin revisiting $56k support and impact on altcoins.
14:21: Analysis of Bitcoin daily chart, discussion of long-term support/resistance trendline at $64k that was just hit.
16:07: Overview of liquidation zones on Bitcoin chart, notes thinning out of long liquidation zones.
20:01: Prediting further downside movement. Potential support levels around 51,000 and 50,000.
23:30: A rising wedge pattern since March and whether now is the right time to decide if it will be broken to the downside.
27:19: Potential M formation on 4H chart with room for one more drop. Key support levels around 64,800 and 63,000.
30:34: Fear and greed index does not match bearish sentiment. Suggestion that sentiment is actually under 50.
31:55: Recent ETF inflows and outflows over last week. Still net inflows YTD but importance of monitoring Blackrock and Fidelity flows highlighted.
37:06: Typical price behavior after past halvings of initial drop followed by new highs in the following 12 months.
39:55: Advice to be patient and that in 6 months this current period will be looked back on.
42:39: Analyzing TAO chart, hitting trendline support, potential bounce, and waiting for signal to buy more or sell.
50:00: Charts and outlook for DOT, ETH, LINK and NEAR.
53:00: Further discussion of charts of altcoins like LINK, near, render, potential support levels to watch and buy opportunities.
53:46: Kaspa’s strength compared to other altcoins, maintaining higher highs and lows.
57:45: Discussion of total crypto market cap chart, losing key moving averages, potential downside targets around 500-450 billion.
01:03:14: Why Fib retracement levels may be different between charts and demonstration of how levels change between linear and log scales.
01:07:12: Portfolio breakdown discussed including percentages allocated to BTC, USDT, DOT, and other assets.
01:08:08: Past success with spiky fade trades using NEO Gas and considerations for establishing stability and baseline before entering new trades.
01:11:34: Analysing the growth from 20k to 2.4M+ altcoins and how it impacts liquidity and viability of individual projects.
01:17:52: Analyzing impact on top 100 market dominance with growth in total altcoins from 24k to potential millions.
01:19:56: Current price of TAO which has been a focus due to large group allocation.
01:20:08: Opportunity for a relief rally after downturns but need to clear levels like 300, 330, 400, and 445 psychological levels.
01:22:49: Plan to continue dollar cost averaging investments through 2022 and 2023 while maintaining belief in the four-year crypto cycle signaling the portfolio will reach new highs.