Avenger Call – 13 Feb 24

00:12: Celebrating Bitcoin reaching $50,000 again for the first time in over 2 years and how different the market is now compared to last time with more institutional investment.
09:25: Current Fear and Greed Index level indicates extreme greed and that a pullback is likely to cool sentiment before further rises can occur.
17:02: Original plan to sell Bitcoin at $46,200 target but it was surpassed and analysis of chart with next support levels.
18:11: Analysis of chart showing next key support levels between current price and $38,000 with bullish view of only a small 5% pullback.
19:23: That second peak of ‘M’ pattern may have been seen but price action doesn’t fully support it yet with outlook remaining uncertain
20:02: Needing a market pullback after days of gains and identifying 46,200 and 45,000 as potential support levels.
23:00: Potential retracement levels at 0.5 and 382 Fibonacci levels around 45,000.
31:50: How to best deploy a new stack of cash that has become available, given the ongoing bull market.
32:31: Deploy the capital now rather than wait for a ‘better’ entry, given the belief that prices will continue rising over the long term.
34:57: Anchoring bias and how the initial exposure to a price can anchor one’s perception of value, using LINK as an example.
38:58: How anchoring bias impacts re-entry decisions, using past lower entry points in ROSE as a reference point.
43:46: Whether large Bitcoin wallets (>10 BTC) appear to be selling, which could indicate market tops.
50:20: What open interest represents and how it can provide additional context about market participation and potential volatility.
55:01: The altcoin chart declining against BTC, it represents being able to acquire more of that altcoin per BTC, presenting an opportunity to convert BTC holdings.
56:12: The trigger point for when the altcoin chart bottoms out is when one would want to execute converting BTC to altcoins.
01:00:09: Comparing BTC USDT vs TAO USDT charts, including scale issues and price conversions between the two.
01:05:15: Analysis of TAO daily and 4H charts, including discussion of support levels around 490-486 and potential price targets up to 720.
01:11:02: Brief discussion of TAO Inu including that it is a ‘full on degen play’ and to watch the 50MA as a potential buying opportunity.
01:13:01: Technical analysis of Clore chart, including breakout from 2-month range and potential price target of $0.25.
01:14:12: Review of GAS chart, including coiling pattern and potential retest of support levels like $0.12-0.08.
01:17:47: Bitcoin dominance chart, including potential support trendline break and implications for altcoins if dominance decreases.
01:18:31: Plans to analyse changes in the top 100 coins over multiple bull markets to identify projects that don’t survive each cycle.
01:20:17: A $500 cryptocurrency trade that has broken even. Mentions looking at coin prices on different exchanges.
01:21:31: Next step is to work out wallet setup.
01:22:00: Taking a risk on a ‘gem play’ cryptocurrency to see what happens with its price over time with no guarantees. Compares perspective from a year ago.
01:24:00: Technical analysis of the total market cap of all cryptocurrencies excluding Bitcoin and Ethereum, and possibilities for where it could go depending on Bitcoin dominance.
01:25:00: A cryptocurrency called Pandora that increased dramatically in price over the past week from $4,000 to over $32,000 and has now consolidated around $22,000. Mentions the ERC-404 sector.
01:25:51: How to add the Crypto Fear and Greed Index indicator to TradingView charts by searching for it and adding the Pine Script version.