Crypto as an asset class can be very intimidating.
There’s so much jargon and nomenclature thrown around, and the drivers of these tokens are very different from traditional markets.
And it’s certainly not getting any simpler. There’s a flourishing list of smart contract platforms, defi protocols, and other projects, all with their own objectives, purpose, and communities.
Whether you’re a developer or a humble trader looking to lend and borrow in the world of defi, the market is becoming so oversaturated with all these protocols that it becomes downright daunting to even touch it.
But I think we can all take solace in the fact that no one is a complete expert in this stuff.
This isn’t commodities or stocks where a group of oldtimers have decades of experience dealing with these markets. Crypto has been around for less than a decade, and in the case of the biggest names in the asset class today, less than a few years.
And even from a research and analysis perspective, up until this point, the entire industry of on-chain analytics was done by a select number of people. Only in the last 12-months has the industry started to pick up (and by pick up, I mean less than half a dozen data providers and full-time analysts).
The point is, other than a very select number of individuals, cryptocurrencies are new to everyone.
If you’re feeling bogged down by all the information thrown out there, don’t stress.
Despite what others will tell you, if you’re struggling to grasp it all, you’re doing great.
Everyone’s learning this together.
Go try your hand at yield farming, mining Helium, or slinging NFTs.
The greater risk here would be to not learn about this stuff.
So jump that down that rabbit hole, and let us know what crazy things you find down there.
Avalanche’s Breakout Is Snow Joke
While the internal drivers and fundamentals of crypto can be daunting, the same principles of technical analysis that Edwards & Magee wrote about in the 1940’s, or Charlie Dow documented in the late 1800’s are true, irrespective of asset class.
Even though cryptos and defi didn’t come along for another century after these findings, technical analysis still works on all these coins.
Because after all, that’s why we’re all here, right? To simply participate in the prevailing direction of these monster trends.
So how about this Avalanche?
It’s *snow* joke…
Above its Spring highs. Check.
Relative strength. Check.
Defined risk vs reward. Check…
We want to be long AVAX if and only it’s above 60 bucks, with an upside objective of 92.
We’ll be discussing AVAX and many more coins and other developments during our weekly Strategy Session for ASC Crypto Members tomorrow at 1:30 p.m. ET. See you there!