Avenger Call – 07 May 24

00:14: Overview of portfolio performance last week with Bitcoin dropping to mid-$50Ks before recovering.
02:48: Recap of CZ being sentenced to 4 months in prison for Binance manipulation charges in 2021.
03:54: Lackluster performance of new Hong Kong Bitcoin and Ethereum spot ETFs relative to US ETFs.
08:01: Analysis of Bitcoin monthly returns and selling in May concept. Discussion of support trendline on long-term chart and reaction off liquidation zone.
10:10: Recent Bitcoin price bounce off long-term support trendline and liquidation zone.
15:11: Fibonacci retracement analysis showing recent dip found support at 38.2% level.
17:09: Plan to monitor ETF inflows data over next few days to gauge institutional sentiment.
19:53: Stochastic RSI has already cooled off, plan to watch momentum indicators for further signals on market direction and potential bottoming.
20:52: Checking on portfolio performance which was in the red last week.
22:24: Be patient and wait for opportunities to buy dips rather than trying to time perfectly.
27:03: Potential for a third drop in BTC price based on daily and 4hr charts showing lower highs and lows.
30:15: Considering taking 30% profits on some altcoin positions like TAO if sees further downside to channel target.
32:59: Current cycle price rise to previous cycles, finding current one is still well ahead despite recent fall.
37:00: Analysis of past halving events showing short periods of sideways movement and accumulation before large rises.
40:10: Introduction of the Coin Days Destroyed metric and how it is calculated by multiplying the number of coins moved by the number of days since they were last moved.
44:17: A recent peak in the Coin Days Destroyed metric in early April 2022, which typically precedes market peaks.
45:37: Overview of holding the Cubic token briefly and not fully understanding the project or tokenomics.
50:27: Introduction to the RWN project which uses a blockchain platform and token to enable selling excess renewable energy.
53:15: Concerns around lack of transparency on tokenomics, true market need and niche focus.
01:00:17: Polkadot price movement and community developments.
01:00:54: Near price increase from rejection and structure building.
01:01:32: Render price increase and structure. Bucking broader market trend.
01:02:33: Re-evaluating selling Link too early and potential to buy back in given room for growth.
01:03:36: Interest in buying Solana back if price drops given strong past performance.
01:03:43: Link is on potential buy list given room for growth after selling earlier.
01:04:53: Analysis of Total price structure and potential inverted head and shoulders pattern forming.
01:06:05: Camino tier 1 airdrop received but token value is low. Still profited from soul.