CROUSDT.P trade ideas
CRO LongHello Traders, here is the full analysis for CRO , let me know in the comment section below if you have any questions.
The ellipse could represent a possible zone with good risk/reward to accumulate long position.
Please note that all the information and publications hera are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. What you will find here, are only views of a Cat passionate about Finance.
CROUSDT CROUSDT seem to complete is bear rally and bulls are in at this time its worth risking as you buy at discount price
CRYPTO.COM +200% Crypto.com an exchange token has been following a specific fractal that has been seen in the 2018-2019 bear market for bitcoin.
This of course is purely speculation and shouldn't be taken seriously until we breakout of the descending channel, I do believe however that we are coming to an end for this years bear market and personally this is when I will be dollar cost averaging into coins that have big upside potential... CRO being one of them
Not financial advice DYOR.
$CROUSD bouncing at the trendlineAfter seeing a capitulation, rarely do we see an immediate reversal back up.
Even if the current trendline sends a strong signal to the bulls, it is unclear if a reversal is imminent or is this just a temporary relief bounce.
We noted that 2 weeks ago there was plenty of air (lack of market participants) in the region of immediate price action and expected a large movement (could have been up or down) but alas it went dipping.
In my other charts, the $BTCUSD charts, we saw $BTC bouncing similarly on its trendline, and then it broke support and went dipping hard.
So could $CRO follow?
For now, it is probably best to err on the side of cautious optimism and allow $CRO to establish a new trading range (TR) first or wait for other confirmations.
CRO daily chart still intact?CRO daily looks as it may of hit the bottom
according to the DeMark 9 Indicator. Outlined
in the green oval was the crash that happened
the last week...CRO appeared it was going to
start an uptrend until then, if CRO can get back
up to $0.20 and hold it, it should make its way
back up and the RSI is way low and oversold and
should only be able to make a move upward.
When i overlaid CRO and BTC together, it became
very evident that they move togther.
CRO close to supportHello everyone, let's take a look at the 1H CRO to USDT chart. As you can see, the price is moving below the local downtrend line.
Let's start with the designation of the support line and as you can see the first support in the near future is SL1 - $ 0.2756, if the support breaks, the next one is SL2 - $ 0.2645 and SL3 - $ 0.2344.
Now let's move from the resistance line as you can see, the first resistance is T1 - $ 0.2959, if you manage to break it, the next resistance will be T2 - $ 0.3142 and T3 - $ 0.3297.
Looking at the CHOP indicator, we can see that the energy has been rebuilt in the 1H interval, so we can expect traffic in the coming hours.
It's worth remembering about stop loss!
CROUSD - Seeing a lot of air.Crypto.Com has been marketing heavily lately and where do one think this is being funded from?
It's no surprise that plenty of selling pressure exists despite the swath of interest (and signups) in its product.
Despite its recent debacle of removing staking rewards and then reinstating them, price has seen a bit of a reprieve, but for how long?
It'll need to develop a strong support level soon, but it looks like its still in price discovery.
A stronger support trend would be its long term trendline from Dec2020 and that could see price heading towards $0.19 again.
New Rewards on Top of Staking ReturnsCRO sent an email bringing back stake rewards albeit at a lower percent
That’s on top of the rewards program they launched on the app that shows major partnership
That on top of the staking is actually way more rewards than before if you actually use the platform and card.
I personally don’t even use a bank account anymore beside the crypto.com Fiat wallet
CRO has helped me go completely major bank free and while I didn’t agree with the rewards change at first I quickly came to see the majored additional changes that came with a lot more positivity
I foresee a bullish market, changed my opinion from sell when my staking is up to load my bag more and hodl to see what happens
Not financial advice