Community Fears DCG is Selling as Altcoins Values Tank Massively
Bank of Italy Chooses Algorand for Blockchain Project
Donald Trump NFT Collection Sells Out, Price Surges
Going into 2023 Q1, I'm anticipating some more red candles across the board before prices bottom
- We're close but not quite there
- "Capitulation" could be a slow bleed down similar to what we've been seeing with the S&P 500
- I am expecting high volatility in early Spring 2023 (Feb/Mar) - that's where we see confluence of most trendlines across all major altcoins and Bitcoin

Bitcoin / $BTC

Confirmation of support being flipped to resistance - this is bearish
We can assume that price will snake around the main trendline from ATH again which puts our "bottom" price target at the $14k range
- Momentum isn't there - I don't see a catalyst for any movement up
- The last "bad actor" in the space seems to be Digital Currency Group (see link above)
  - Their insolvency or asset sales could be the catalyst to bring prices down one last time before price bottoms out

Polkadot / $DOT

Price finally broke below the down-trending support line - we expected this
- Next support range at ~$3.90
I'm anticipating another slow bleed down to the bottom range like we've been seeing since May
RSI is oversold, but there's still a little more room for downside to get the index below 30.
- That would be a good confirmation of the bottom
- The question is whether this bottom is at ~$3.90 or $2.80
I am de-risking 50% my position here at $4.60 and waiting for lower-lows before buying back in

Polygon / $MATIC

Price has been holding above $0.77 because of MATIC adoption - the latest being President Trump's NFT collection being sold and traded on the Polygon network
Support has been tested 6 times in 6 months
- It's a matter of time until this support range breaks down below $0.77
The price structure is very similar to the previous year where support was also tested 7 times before breaking down to $0.30
- There's chance price doesn't bottom at $0.30 because of adoption
- Price could drop to $0.50 and consolidate there

Algorand / $ALGO

For weeks we've been looking for a breakdown to ~$0.18 and it finally happened as predicted
Price structures have been forming bearish pennants or flags
- We saw another bear pennant forming at "Support Level No. 1", which told us that another breakdown was likely - and it happened
Next support level is at $0.16 - let's see if price can hold here
- If not, we could see capitulation to 10 cents from 2020 levels

Avalanche / $AVAX

Resistance, support, and the general trendline all converge in Spring 2023 (February/ March)
These trendlines tell us to expect more downward price movements for a couple more months
Volume is critical - the lower the volume, the more volatile the price swings
- Volume in those Spring months will determine how prolonged the bear market will be

Some other thoughts:

Cardano seems to be a bottomless pit, making lower-lows and new all-time-lows each time the market drops
- $ADA is either a hidden gem or a gigantic waste of time that won't survive this bear market
Chainlink price has been consolidating nicely since May - there's chance it's already seen it's bottom for the cycle as prices have refused to make lower-lows
My opinion: I am not too optimistic about crypto in 2023
- I think we'll start to see some projects capitulate by Spring '23 and we can narrow down the winners for 2024 bull runs

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