Trading Notes:

The entire crypto market is looking bearish
If equities crash, risk-on assets like cryptocurrencies are likely to lead the selloff
I'm dollar cost averaging my way through the dips while avoiding sh*tcoins like Shiba and Ethereum tokens with no real-world utility. You can view my watchlist / portfolio here: Watchlists on Breaking Metrics

Bitcoin / $BTC

Bitcoin price is working its way into oversold territory - that means we're likely to retest lower $18k levels

Consistent rejections of resistance line breakouts confirm we're still in a downtrend
Price is getting squeezed between resistance and support - we may not see ~$20k Bitcoin again for a long time if we break down below $17k.

Algorand / $ALGO

Take note of the red hammers where $ALGO has been consistently rejecting any breakout of the downtrend since the spike in price in late September
Several pennant breakdowns confirm the bearish trend
Given the daily RSI level and Fibonacci line at ~$0.31, this is a good place to buy for me. Your risk tolerance could be different from mine, so please do not misconstrue this as financial advice
- If the RSI is oversold and price has hit the lower levels of the fib retracement, this tells me that a local bottom could be in for $ALGO at the tip of this triangle
- Then again, if the crypto market crashes again, I'm betting that $ALGO will go lower

Polygon / $MATIC

This should be a bullish pennant formation since it's coming from an uptrend, but I believe it's not for several reasons:
1. The pennant has been dragging on for way too long and price support is waning
2. The RSI is in a downtrend but hasn't hit oversold levels yet
3. Volume has been steadily decreasing - volatility incoming
4. Price is too close to resistance and breakouts have been rejected 3-4 times at that trendline already.
It seems like anyone left swing/day trading $MATIC after August are retailers thinking they're going to catch a major uptrend like we saw in June/July. Not likely to happen.
I don't believe support will hold where the small red arrows are pointing to
I'm expecting a breakdown into the grey shaded area - this is the target I'm looking at to dollar cost average more buys

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