High Mcap Outlook

Enough of the correction phase. Let's be a bit more optimistic, as the month of September is setting up for a pretty bright picture. In fact, things seem to be bottoming out, as Bitcoin's reaction since the ETF launch peak on January 11 has been positive so far. Price behavior should turn around from here, as liquidity is now above $70k. Please refer back to the Bitcoin update for further reference as to why I support a more bullish stance for the rest of the year. 

The Dip of the Dippity Dip?

What a drop and arguably the best buying opportunity this quarter. How much lower can it go? A question of fear and desire for lower prices that left many on the sidelines wondering if it was the right thing to do. Let’s try to be more rational, as there are

Zelf TradeSamuel Castellanos

It is important to keep strong "movers" as a priority in the coming months. I doubt things will change from here or that new narratives will enter the ecosystem to brighten the crypto environment. It's best to stick with what the market has proven to work, unless the hype and follow-through is bilateral, as in the previous two cycles. I remain cautious as to what to invest my money in in this one-sided market. For now, there is no #AltSeason, only #NarrativeSeason. 

Let's dive into some of them.

RUNE

• Weekly has failed in every way possible and now prices are at a monthly level.
• I see this trading between $2.8-3.3 for the month of August. This is a great opportunity to start repositioning if the last $1.5-$7 move was missed.
• Any price weakness below $2.7 should be used as a way to exit and wait for price reclaim back above $3.3

FET

Just like RUNE, it has failed on all time frames except monthly. Most of the alts are out of whack with indicators if you try to use a bottom signal below the weekly time frame. This has been a strong mover and if the AI mania continues in strength, it should be the play to hold with another small basket of AI coins. 

• Back inside the monthly block that created the high on the '21 high. Should be a demand point, but caution must be taken as there are two key levels below. 
• 0.67 should be an absolute buy if it touches that area. 
• Holding $0.77 for the month of August will mean a bottom has most likely been reached (that's what I'm betting on).
• Above $1.15 is the safe entry. I prefer to use that as a point to add to positions once it breaks above. 

ONDO

So far, it continues to hold the weekly time frame and has had some strong reactions near the key level compared to the two mentioned above. The market cap sits next to Rune and is half of what Fetai is currently trading at. 

• Any retest near $0.60 is a great opportunity to get in on this coin.
• Since it will take some time to absorb the Q1 supply between $0.70 and $0.90, I will treat it as a range. So the next trade setup emerges on a clean break above $0.90.

CORE

Most probably missed this bet before, as it only appeared on Bybit. One of the stronger currencies that has kept weekly oscillators intact, as well as trend indicators. Now, I try to stay away from them after massive corrections, as it takes time to re-establish most indicators. But strength is something one must thrive on in trading and this indeed has plenty of it, as it held on the weekly time frame. 

• Buying below $1 is welcome. Note the current low at $0.82, any price behavior below that invalidates the trade idea. 
• Above $1.22 paints a clearer picture and should begin to move strongly

Two possibilities with this one:

• Trade level to level without marrying any positions.
• Build the swing below $1 and work on those diamond hands the rest of the year. 

This should be a little overview of trading setups with 1B mcaps. We will post trading setups below 500m and some degenerate bets for those with money to spare.