Avenger Call – 06 Feb 24

01:00: Overview of recent price ranges for BTC between $42,500-$43,500 and discussion of resistance/support levels. Also mentions strength of ETH and continued rise of BitTensor token.
03:03: ETH running into resistance around $2,390 and strength over past weeks while BTC has been ranging. Also shows chart of potential double bottom formation.
04:10: Recent rise and pullback of BitTensor token on daily timeframe and expectation of further rises due to being in price discovery while BTC does nothing.
05:30: Genesis is looking to sell $1.6B in BTC and ETH from Grayscale trust and potential selling pressure but also demand from large players.
07:53: Solana network experienced another major outage for 5 hours but price was unaffected. Questions raised about reliability for future projects.
10:11: Binance delisting of Monero and Multichain due to regulatory pressures has led to large price drops across exchanges for these privacy coins.
16:17: Asking members to provide any additional tokens they want included in the spreadsheet for 2025 price projections.
17:32: Content being produced about crypto airdrops and farming them for money.
18:59: Airdrops can be a good way to distribute tokens as rewards, worries that trend could lead to issues like ICOs or rebasing tokens if not implemented properly.
22:45: The three types of airdrops: standard where tokens are distributed for free, bounty where tasks must be completed to earn rewards, and holder where tokens are received for holding other cryptocurrencies.
24:53: Participating in a Camino Finance airdrop by lending and borrowing stablecoins to accumulate points towards an unknown reward. Also participating in a MarginFi airdrop in a similar way.
31:10: Concerned with the volume of airdrop content that could force projects into using airdrops to launch, attracting ‘mercenary’ communities just seeking rewards.
33:27: How airdrop farming could snowball out of control similarly to rebasing tokens, potentially damaging projects through false economies and sell pressure.
36:29: Will sell rewards from Camino and MarginFi airdrops and may participate in airdrops of other projects they are interested in such as EgenLayer.
46:15: Analysis of Bitcoin price chart showing levels of support and resistance. Prediction that price may rise further to test trendline resistance before potentially reversing.
53:05: Previous Bitcoin cycles and how current cycle is interacting with Fibonacci retracement levels similarly. Suggestion price may rise further before retracing into halving.
56:02: Ethereum dominance has started to climb against Bitcoin and other altcoins, suggesting funds moving into Ethereum.
58:43: Recap of TAU support and resistance levels that recent buys were made at on hourly chart. Suggestion of potential downside to $3.60 level.
01:00:04: Having more money on the side and thinking longer term about buying opportunities. Looking at past buying behavior in December 2022.
01:03:03: If Bitcoin starts a downward leg, other cryptos will fall with it but maybe not immediately. Money on sidelines will help take advantage of opportunities.
01:05:34: Chainlink’s past price ranges and potential to reach $300 in the future, representing 16x gains from current price.
01:07:01: Kaspa may see a bottom around 7.5 cents in a worst case scenario based on the formation of candles on its 3-day chart.
01:09:00: Clore’s daily chart, identification of support levels around 10 cents and potential re-entry around 5.5 cents if it breaks lower.
01:11:10: Engine offering 40-45% APY on staking but concern about sustainability and timeframe. Analysis of its long term downtrend and support around past price ranges.
01:13:07: Fibonacci analysis applied to Engine showing it currently sitting on the .618 level, potentially presenting a buying opportunity.
01:14:55: Asta, Beamex, Flux and H-bar being watched for entries either around certain price levels or Fibonacci retracements.
01:17:15: Recent reports about Fetch.AI financial difficulties and administration. Need to research implications for team and development.
01:18:27: Manta being watched with some purchases already made but still looking for entry around 230 or below.
01:18:39: Mina being watched with a buy level of $1 but preferred entry of 80 cents not yet reached.
01:19:04: Total2 chart looking similar to ETH but may see shoulder formation requiring alts to fall first. Continued monitoring required.
01:20:44: Reason for skipping Rollbit investment.
01:21:31: Past tax reports show significant money spent on gas fees trying to use Uniswap on Ethereum. Want to avoid this eroding profits if an investment succeeds.
01:24:41: Upcoming training sessions on Thursday at 2pm and 8pm on the topic of power laws.