Lookit CRO go on the daily. How and when will it crash?

If you look at the areas circled on the MAC-D, we can see an obvious comparison to the pattern unfolding right now. The red line is about where I put the ceiling on CRO in the short term. That green line is our support, the yellow is our trend's heartline and the blue line is what I gauge to be the overall trajectory of CRO. At a time when other alt coins are getting ready to moon, CRO is leaving the atmosphere. A large part of this is artificial. Crypto dot com's exchange provides discounts on other cryptos to members who stake CRO. If you're curious, my portfolio is currently far more weighted towards CRO than the average portfolio and it'll probably stay that way for a few weeks. The largest externality impacting its price between now and the end of June is a half off sale on BC coming up soon. The original use case on CRO is that if you're on the CDC platforms, you pay for exchange fees with it. The introduction of staking as a use case is an interesting variable. While I do see CRO on a long term rise, I certainly don't see its current trajectory being that rise. No, we want to look to the blue line for that. I suspect that we're nearing the end of CRO's parabolic rise and find ourselves a few weeks from watching it crash below the blue line (probably more than illustrated), dead cat bouncing a few times then prancing off to look for a new pair of single-use moon boots.

Commentaire:

There was a pretty cute little dump today, likely caused by news of BTC's golden cross. Honestly, my call may have been presumptuous here and it's possible that CRO will end its peak sooner than I expect due to people reallocating into bitcoin.