Top 2# crypto gems ready to take off (grayscale approved)
You should be paying attention to this week and ive got some data to back it up. Lets get into it Music. This story came out over the weekend. Grayscale digital large cap fund and grayscale d5 fund announced quarterly rebalancing of funds. Smart contract platform, solana and decentralized exchange uniswap have been added to the grayscale digital large cap fund. I like to follow the money on this show and the fact that grayscale has added solana and uniswap to their portfolio makes me immensely bullish. These guys are not going to dump money into anything unless they think it will make them money. Long term and weve seen this play out, especially with ethereum classic ethereum classic is probably the most worthless cryptocurrency i have ever seen in my life, but they still have it on their list. Now lets go ahead and take a look at solana and uniswaps price action and see if we could potentially get in at some lower prices. This is the solana chart that we talked about on last nights show and my scenario still stands: im seeing confliction between macd rsi and stochastic, rsi, rsi and stochastic rsi is indicating bearish movement indicating that price wants to go down. Macd, on the other hand, is still running upward, but we are starting to see a little bit of a bend on the daily chart. So this is telling me that we could potentially reverse and fall down a little bit. So i gave two scenarios on last nights.
Show the first scenario was to maintain support about 160 dollars and then continue to fall and consolidate between 144 and approximately 161.. The bullish scenario was to sustain at 160 and continue to climb right now. Looking at the chart, i am feeling a little bit of a breakdown below 160.. I have bids set below 100. I am not saying price is going to fall between 100, but me as somebody who has already invested in solana, somebody that has a moon back. That is earning passive income on that moon back, i want to get solana at a great price, and so i have my bids or alerts on my phone starting at approximately 99, which is also the ema 100. Now, taking a look at the 12 hour chart 12 hour chart is also giving me some confliction between our indicators is were holding on support immensely well at 160.. I still have my bid set thats not going to change, because we dont know if were going to experience some volatility. Taking a look at the four hour chart four hour chart is showing a lot of fight here above 160., but as far as solana goes long term. I think that we can easily hit about 300 dollars. It is a psychological number and it is almost a two time from here. This, however, would be contingent on bitcoin continuing to go upward either way. Ive got my moon bag of solana and im gon na be holding on to that for a long period of time, especially with this news coming from grayscale.
This is the uniswap daily chart. I also have a bag of uniswap. It is a very small bag compared to a lot of others, but i still like to hold it now. Taking a look at uniswap price action, macd is running upward and were getting confliction between macd, rsi and stochastic. Rsi and price is teetering right above our emas. At about 24, here i like to have a support area at 22, and i also have a range support area between 19 to 14, just in case price gets a little bit. Bearish weve got very strong support at 22 23 because that is where the ema 200 is in order for me to be bullish short term on uniswap. We would need to get a breakout here at about 26, so i would be looking for a breakout of 26 and then a move up to about 30 or a breakdown head to 22.. Then, of course, in our range box long term, i do think that uniswap can then go back up to about 45 if the bitcoin bull run continues, which i think that we will sustain in this bitcoin bull run, but were going to experience some volatility either way. A nice bottom area for me is about 14, because weve held support on this line, so so so many times i do think uniswap is a solid project to consider. Looking at i like their decks theres one of the many dexes that i use and i do think a lot of their partnerships make sense to me and especially the fact that grayscales invested in them.
That also makes sense to me as well lets talk about this story, because this one is not a fun one, 160 million at risk due to bug and defy lending protocol compound. We talked about an incorrect transaction that was sent to an anonymous address from compound. I think it was about 68 or 70 million dollars and one of the folks from compound put out a tweet and said im gon na report you to the irs or to the fbi, whatever it was and theyre asking for the funds back, which is kind of Ridiculous, because this is defy – and its just was a bizarre mistake either way it looks like there was a second exploit that happened again. The reason why we are talking about this is because i want to remind you guys, when youre utilizing decentralized protocols, please stake farm earn passive income on a moon bag. That way, if something like this happens, you are subjected to less risk, because what youre going to be losing is something that you own completely free and clear. That is my only gripe that i have to say about this, its unfortunate that this has happened and that they have lost about 160 million dollars now, but at the same time i also understand that this is crypto. This is defy, and this is the wild wild, west and thats. Why any time i leave any type of cryptocurrency on a centralized exchange or in a d5 protocol.
I understand the risks and i just wanted to give you guys a friendly reminder. Yes, we are going to cover bitcoin, but i want to cover two stories. First, u.s federal reserve has no intention to ban cryptocurrencies. Chairman powell says, however, he thinks they could possibly be replaced by a cbdc. This is telling me that the government is coming theyre going to instill regulations, however, its going to be a little bit complicated for them to get rid of cryptocurrencies very, very hard, because a lot of these are decentralized protocols and a lot of these dont necessarily operate In the united states either way lets take a look at our next story: 200 000 bitcoin price programmed as bitcoin heads toward second rsi peak. I want to talk about this article because i dont like the way it was written. It was written by coin telegraph. One of the reasons why is in this article it doesnt say what time frame this is it just kind of throws a chart out there and it is utilizing fact fractal based technical analysis, which is 100 fine. You can do that all right. This is our bitcoin monthly chart and i went ahead and marked little areas where we had these double tops on the rsi. We first saw this july 2013 um september 2017 and now were starting to see it in august 2021, and what i did was i drew a little middle line in between, in order for bitcoin to hit this prediction of 200 000.
We need to pump approximately 314. I think we are lucky if we see 75 000 to 100 000 bitcoin in this particular cycle. However, another thing to note here is that we may see an extended bull run because were seeing a lot of different things. Economically, playing out were seeing government come in and they want to kind of, regulate. Crypto were also seeing china ban, bitcoin and people are starting to buy more, were seeing the adoption. El salvador theres a lot of different factors here and plus you guys were still in the middle of a panorama. I would love bitcoin to hit 200 000. I just dont necessarily see that playing out in the next year and i want to watch a few things. I want to watch to see how we sustain in this particular area. Another thing i want to show you is this chart. This is our bitcoin daily chart. We talked about this last night on the stream. I went ahead and drew trend lines from april 13th of 2021 when we had that swing high from 65 000, and i made it touch over here from may 10th, the swing wick high and then the swing wick high over here august 1st, we were able to Successfully break out of this trend line on august 1st, however, when we hit this area 53 000 um, i went ahead and drew another trend line. We got rejected so thats. Why? I connected those two trend lines in order for me to continue to be bullish on bitcoin, i need to see a flip of about forty thousand forty nine thousand dollars and then a flip of fifty three thousand dollars to make a higher high and continue on, but Right now, i am still a little bit cautious, due to what bitcoin is looking like on the charts, because were literally just going sideways and were holding support above 47 000, either way make sure your positions are managed and you stay safe.
This next segment is sponsored by swash app reimagining data ownership, incentivized data flows for web 3 data solutions, and i think that this is an actually really cool project that will help get crypto closer to mass adoption because its very easy to use – and it is a Use case that benefits everybody who uses the internet swash is an awesome way for people to earn from the value of their data, its kind of like a form of ubi almost, but i dont really want to take it as far as ubi, but basically youre getting To earn for participating the swash, apps live browser takes a few minutes to install and they already have 60 000 plus users, which makes it one of the biggest decentralized apps out there, and the first and largest data union and swash is actually going to be expanding Into a full data ecosystem with a bunch of solutions that can essentially benefit people, the underdogs, everyday internet users, like you me, businesses and developers in a liquid digital environment for data. They are also backed by some folks that we know coin outlier ventures. Streamer ocean protocol, boys and protocol and a bunch of others swash, has also raised 5.5 million as part of their ongoing funding for the gear up for their upcoming ido. So if you guys are interested make sure to head over to the swash app, which i will have down below sign up for their mailing list, follow them on twitter and join their telegram, and this is something that i will be watching, because i do like platforms Like this, and if you guys have any questions, all this information will be down below our last story here to talk about is facebook being down, facebook is down, ig is down, and whatsapp messenger is down.
This is very interesting timing, considering a lot of the craziness that we are seeing im not here with my tinfoil hat on, but i did want to let you guys know that facebook is down, and some of these other apps are down and of course, bitcoin never Goes down, thank you guys so much for watching. I hope you enjoyed the show, make sure to smash the like subscribe, set alerts, etc.