Avenger Call – 30 Jan 24

00:13: Recent Bitcoin price drop to $38,000 and recovery back within prior trading range. Discussion of support levels like the 50EMA and long term trendline.
04:48: Opportunities around steep TAO price climb and regaining position.
09:30: Breakdown of ETF purchases vs Grayscale sales over past two weeks, with ETFs now in a net positive position.
11:00: Scale of ETF purchases validates ongoing institutional demand for Bitcoin.
15:11: Market sentiment has decided $38,500 was the bottom for now. Discussion of how drops may be eaten up quickly as halving approaches.
17:44: Bitcoin price chart, support levels, and potential price targets. Mention of fib retracement levels to watch.
18:00: Market maker patterns and analysis showing potential WXY pattern on lower timeframes last week and potential rise to 55k resistance on 4hr timeframe.
19:05: Daily chart does not currently suggest an impending price roll over based on market structure.
28:23: Difficulty in identifying market maker patterns and request for feedback from others on where they see patterns forming.
30:00: Deeper explanation of market maker patterns including rule of three and how they are used to move price and trigger reactions. Example of potential M pattern forming on daily timeframe.
35:01: Monitoring price action at resistance level and on lower timeframes for signals on whether further upside momentum can continue or consolidation/downtrend may be forming.
36:41: Consolidation periods don’t always have to go down and discussion of what constitutes an acceptable consolidation.
39:56: Continuing to expect periods of greed in a halving year bull market and potential for upside momentum to continue longer than expected.
40:03: Recent Bitcoin price dip and recovery, checking fear and greed index showing market now in ‘greed’.
41:07: Another market correction is coming based on repeated historical patterns.
49:47: Whether to abandon pursuing a full TAO position or look for another project given current price versus desired entry.
53:02: Importance of understanding risk/reward when evaluating trades and need to make assumptions about potential future price to assess this.
56:56: Modelling potential BTT price in Q4 2025 based on various total market cap and BTT dominance assumptions to understand risk/reward of entry.
01:00:13: BitTensor price could be $571 in 2025 if market cap stays same and circulating supply doubles. Notes other factors like dominance need considering.
01:04:11: Applying same calculations to other tokens to determine potential returns and compare opportunities. Suggests interactive exercise for group.
01:06:00: ADA’s large gains happened outside of bull cycle and market top timeframes, so may not be useful for planning exits.
01:08:56: The dominance percentages of the top 10 tokens at the 2021 bull run top, totaling over 76% dominance.
01:11:02: The remaining 23% was split among 22,490 other tokens, making over 1% dominance a significant challenge.
01:17:08: Selling Cardano position that provided 3x gains already and putting funds into BitTensor which is researched more thoroughly.
01:19:33: Reviewing other tokens on the potential buy list but notes some need revisiting given price changes.
01:20:13: Applying figures to determine if buy orders will be worth it, Beam being in the buy zone but not marked, and buy orders placed for Beam and FET.
01:23:01: Missing a buy order for Bitcoin at $40,000 and needing to reconsider buy zones and be ready to take action instead of waiting for lower prices.
01:24:05: Targeting gains, with 15x already being amazing for some, but should higher targets be aimed for, and factors like entry price affecting already achieved returns.
01:26:17: Buy zones are being re-evaluated, with need to be ready to take action instead of waiting for lower prices.
01:27:03: The crypto game Gold Fever in response to a question, including downloading and playing the game, potential for NFTs and passive income, and plans to further explore the project.
01:33:04: Charting TAU which is difficult due to being in price discovery, potential EMA and Fibonacci retracement levels to watch, and very bullish short-term sentiment signalled by indicators being overbought.