Well would you look at! The markets are a rumbling once again! Wyckoff accumulation
is happening and BTC is making its way up towards THE RESISTANCE! I just want
to let you know...Don’t resist it, just let it happen….because it’s time for Chico Crypto!!
So yeah, let’s just check out the chart of Bitcoin with the wycoff accumulation
pattern layered behind! Shoot, that is suspiciously following it almost to a tee!
But as we can see, the big resistance point for this pattern is charted by many at 40k! As
of yesterday, Bitcoin was only 4000 dollars away from this point. Is it going to happen and when!?
Well, if you know anything about Chico...we are bulls for the rest of the year. I’m not
turning bearish, due to what I considered the great Bear Trap of 2021. I HODL my feelings
and thoughts on the markets. And I HODL them hard. I don’t flip flop like many of the others.
But, we could be going down one more time. I gotta thank BhaloXTO on Twitter for this chart, They
showed a different perspective and said “Food for thoughts on the #Wyckoff accumulation principle.
Many people seem to think that the spring happened last week. On-chain datas show a lot of strength
for the upcoming weeks but I wouldn't be surprised if the spring is still to come.”
And there chart aligns with the accumulation pattern pre spring fackout pretty damn good too!
My point of all this?? You can create a chart to fill any narrative. That’s why I’m not a big fan
of TA, technical analysis. You can chart anything, to fulfill what you want to see…aka your feelings.
That is why I just go with my GUT, and don’t spend countless hours worrying about charting to fit
my own feelings...especially with BItcoin. So, my GUT tells me, the 28k dip was the spring fackout,
and I believe the 40k resistance touch is coming by the end of next week!!
Soooo, if that happens, do you know what is going to get rumbling and bumbling too!?
Those freaking ALTCOINs!!
So for the rest of the episode today. MY TOP ALTCOINs for the rebound. The
ones that are not a joke...as there are so many freaking joke of coins in the space right now.
Money GRABs that won’t be around next cycle...but these coins WILL. They aren’t going anywhere…
Now everyone know’s how important Ethereum is to the space. It’s the DeFi (decentralized
finance) hub, where everything is built. It’s blockchain is the future of finance,
and possibly beyone that into identity, gaming & more….
But DeFi is it’s shining star use case and a use case that is going to grow and
grow quicker than people can even imagine. Last week Circle dropped a blog, where they
said they were going to be taking institutional DeFi, to the world as they release a DeFi API….
And that leads me into one of my TOP picks. Compound...as this DeFi protocol
is going to be the 1st one which works with Circle’s DeFi API, it says it in the blog!
So why is this a top pick of mine? Well for one, it has slipped way down the charts...down
to rank number 58, while a bunch of token crap is ranked higher, with no use...and you even
have some of it’s ctokens, ceth, cdai, and cusdc ranked higher than compound’s governance token.
This proves massive use of compound, and I think the governance token should be ranked way higher.
At least in the top 30 cryptos. There is an imbalance to me…..
But there is more to it, than just that imbalance! And this all ties right back into the Circle DeFi
API and the institutionalization of DeFi. 2 days ago...what did compound announce? They
announced the Compound Treasury, for none other than business and institutions...allowing them to
access the compound protocol. Of course Circle’s DeFi API is a part of this. But there is more that
is apart of this….as you can see 4 percent APR is highly touted on Compound’s treasury website…
Well what else is touting this 4 percent that was just recently released? Coinbase
announced Coinbase Lend, where you can earn 4 percent APY on USDC and this is coming soon and
of course a compound logo is there. But going back to the Circle DeFi API blog they said this
“With our new DeFi API, businesses will be able to access leading DeFi protocols,
beginning with Compound Finance on the Ethereum blockchain. Now why would they specifically
mention Compound on the Ethereum blockchain? They could have just said Compound….right?
Well there are plans to go crosschain, and that is coming sooner than people
think from Compound. December 2020, Compound announced their own blockchain, and released a
whitepaper...and in the whitepaper they said “Compound Chain is a reimagination of the
Compound Protocol as a stand-alone distributed ledger, capable of solving these limitations
and proactively preparing for the rapid adoption & growth of digital assets
on a variety of new blockchains, including Eth2 and central bank digital currency ledgers.”
Institutions for Compound, CBDCs for Compound...but their own distributed ledger?
Wait, does that mean they are leaving Ethereum? No not at all,
and what Robert Leshner, Compound founder said 2 days ago...makes me superbly bullish.
Coindesk posted an article about the release of their treasury, and my broski Chainlinkgod tweeted
“#builtonethereum #poweredbychainlink” of which an average Joe replied “until compound releases
their own chain. Founder Robert jumped in and said “Even then, Compound will still be built
on Ethereum and powered by Chainlink”...yeah I agree with you Mr. God, BASED AF!
So when? When is the Compound Chain coming? Well in March of this year, Compound announced Gateway,
the prototype testnet...and they said “Gateway is a Substrate blockchain,
governed by COMP token-holders on Ethereum. We chose Substrate so that we could focus on
building application code, instead of inventing consensus algorithms…
Me Likey, because I like Substrate. They continue at the end “Starting today,
Gateway is running as a testnet, connected to Ethereum’s Ropsten testnet.
Over the coming months, we’ll work with the community & validators to: 1)Audit the codebase,
improve all aspects of the blockchain, conduct stress-tests, and finally launch to production.
2) Connect Gateway to the Compound protocol running on Ethereum.
And 3) Add Starports on other blockchains.
So, it’s been 4 months since the launch of the testnet. And within these months there has been
announcements of starports to other blockchains. Acala announced theirs for Polkadot in April..and
then in May Compound released a document on how to build a starport, and finally there
was Polygon support announced as happening in their forums around the same time too.
This makes me think...very soon we will have a public release! Compound is a BUY
in Chico’s opinion. But Damn Chico, why are you bringing such high market caps!?
Well let’s go down the list a bit, too one that has been and continues to be
seriously undervalued. It’s not on page 1 of Coingecko...its not even on Page 2….Unibright
has fallen down to page 3, rank #202...which is some bullhonkey, when you realize what is coming….
I’ve spoke on this sooo many times, but Unibright is a core player in the Baseline protocol,
which is a KEY component of Ethereum and Enterprise...and UBTs technology is used
across the baseline stack in conjunction with their key partner Provide! Well Provide and
UBT in February of this year announced a significant piece of the protocol...they
released the Baseledger whitepaper….and it is the blockchain for baselining, powered by UBT tokens.
Going to the baseledger website, and down to the token model of baseledger...you can see how
important UBT is, used throughout. The token acts as a payment mechanism. The
token acts as a staking mechanism for workers maintaining consensus. The token acts as a
"share-in-the-block reward" mechanism for workers that are doing the work relative to their stake.
A proxy-staking mechanism is in place, where members of the ecosystem can contribute to
a worker's stake (and partially participate in the rewards) without doing the work themselves…
UBT staking is coming, and it’s coming with the baseledger release.
So when my friends? Well in the middle of this Month,
June 16th, Kyle Thomas was on a baseline group chat and spoke on baseledger. Let’s listen in…
OHHHH it’s going to be a HOT summer for UBT...because the partners already baselineing
are going to be using this! Kyle Thomas around June 16th also said this in Telegram.
CONA Coke is a baseliner, but also ServiceNow, and Dapps INC aka Salesforce….
But there are more partners...and I want to thank Andromeda on Twitter for capturing
this on another baseline chat last week. Let’s listen in to their capture….announcement of other
enterprises….getting BASED. Cheers I’ll see you next time!