$ASTER on-chain data this week, like I said, FEES have been strong, OPEN Interest declined by 17% or worse, depending on the TUESDAY'S data that's not available yet.
💙👽
60c $ASTER could not be realistic yet, the LONG limit stays, but I will be trying my luck at 71.5c first after long consideration.
We have no real support levels to work with, quite honestly, so algos are going to use mathematical calculations, and I think my negative ELLIOT WAVE count should do the job, fib 0.618 of WAVE 5 impulse to the downside.
70c - 71.5c, I definitely expect buyers to come back in — these are some low prices for a PERP DEX that makes $2M in fees daily, on average. The FEES have been fine, but the OPEN INTEREST fell from $3B to less than $2.5B just this month.
On the 8-HOUR chart, super intriguing — two FALLING WEDGES on top of each other. The previous one broke out last FRIDAY, and today (Tuesday) that breakout is being retested — quite a strong rebound, actually, as well, after dipping to 81.7c.
A LOWER HIGH is likely next after the latest LOWER LOW; I see no reason to LONG into resistances of all sorts.
My only strategy for this is to catch a flash-crash wick or, in a surprisingly BULLISH scenario, LONG above the GOLDEN POCKET ($1.3+). Probably not anytime soon.
💙👽
#asterix
We have no real support levels to work with, quite honestly, so algos are going to use mathematical calculations, and I think my negative ELLIOT WAVE count should do the job, fib 0.618 of WAVE 5 impulse to the downside.
70c - 71.5c, I definitely expect buyers to come back in — these are some low prices for a PERP DEX that makes $2M in fees daily, on average. The FEES have been fine, but the OPEN INTEREST fell from $3B to less than $2.5B just this month.
On the 8-HOUR chart, super intriguing — two FALLING WEDGES on top of each other. The previous one broke out last FRIDAY, and today (Tuesday) that breakout is being retested — quite a strong rebound, actually, as well, after dipping to 81.7c.
A LOWER HIGH is likely next after the latest LOWER LOW; I see no reason to LONG into resistances of all sorts.
My only strategy for this is to catch a flash-crash wick or, in a surprisingly BULLISH scenario, LONG above the GOLDEN POCKET ($1.3+). Probably not anytime soon.
💙👽
#asterix
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ASTER
1.028
-4.72%