
The overall market has now shaken off the ~20% market drawdown, and many ALTS have continued to grind higher. Last week, I had a couple of trades miss and a couple hit; overall, it was a red week due to bad trade management.
Last week, I cut one of my winning trades too early instead of following my strategy. To best capitalize on these volatile and parabolic markets, I focus on pyramiding or averaging up into my positions. This allows me to continue adjusting risk accordingly while simultaneously growing my position size in the chance of catching an excellent move.
This trade on BNB displays a perfect example, and it even gave me multiple re-position areas (places to add).
While hindsight is always 20-20, this trade was a solid entry; one taken with half size. From here, I should have been looking for my first take profit and a position to add more to my line. I ended up taking profit at my first target as I had to deal with some personal matters, but looking at the current chart, the mistake I made is blatant.
Overall, seeing this trade pan out helps build my confidence to trust and follow my system. While I am still unable to prove its expectancy, I'm not going to fix what isn't broken. 😊
Enough with the reflection.
Currently, on the 8hr and higher time frames, BTC is consolidating into a wedge. These patterns have very favorable odds of breaking to an upside, especially with BTC in a bull market. An entry I would look for on BTC is on the tests of the primary trendline. A more specific entry I am looking for is a breakout of the primary downtrend and a bullish re-test around the 38K level.
Overall I am not looking for entries into resistance or in "no man's land," my key here is sticking to trades that are high conviction, ones that appear to have a + EV. I think the default scenario here for BTC is that we range in this wedge until there is a breakout, the odds favor a flight to the upside, but pick efficient entires to mitigate overall risk.
BNB has seen a rapid recovery as it continues to trade in price discovery. Currently, BNB is offering an entry off of the Daily level at 44. As for the risk: reward, I have a wide stop on this trade to account for the elevated volatility. The W support at 41.5 also looks to be one of the most significant support levels at writing.
Overall, I continue to maintain my bullish posture on BNB, as it offers an entry yet again. As for the profit target, if I took this trade, I would set my first TP just shy of 50.
OMG is a layer-2-scaling solution for ETH, which is poised to be a massive beneficiary of ETH's scaling issues; enough with that, this is a market recap, not a project review.
I have been accumulating OMG in this current bull-flag/wedge formation. The perfect entry on OMG was off the M level at 2.5, so I would not recommend buying into resistance.
As for adding to this position, I want to see my initial thesis validated, a breakout of the bull flag. If and when the downtrend breaks, I will be looking for an entry on the breakout's bullish re-test in confluence of critical support.
CAKE has also continued to grind higher after its muted sell-off into support. This token remains near the top of my bull-list for many reasons, both fundamentally and technically. As for an entry on CAKE, a re-test of previous pivot highs or a bullish re-test of the W level at .60 could permit an entry. Overall, this name offers unrivaled yields at .5% daily, and the team continues to provide innovation to the BSC. If that's not enough of an indication, the chart doesn't lie either, printing a very bullish advance.
On a side note, I am currently debating charting more BSC tokens. I would not be opposed to doing some "fun" TA on well-established BSC names such as BIFI, DRUGs, FRY, ETC. For those who wish to see this, please give me feedback on my Twitter, and I will try to include it in the following release.
DeFi has continued to heat up with many "Blue-Chips" surpassing all-time highs (ATH's) set in mid-August. I don't see this trend cooling-off any-time soon as De-Fi continues to push the use-cases of blockchain and decentralized technology.
This name is currently in one of the most prevalent patterns I have seen during this bull market. It has broken out and re-tested its primary bull-flag and is now forming a secondary flag. My entry was textbook, a breakout, and a re-test of the original flag. I have continued to add to this position but have my risk well defined; a break below the previous pivot and I will trim my position. Currently, I am very bullish on this name as a proxy to De-Fi as a whole.
Money is beginning to flow into lots of ALTS as we see 30-50% rallies in names such as CRV, ADA, LINK, OMG, and SUSHI. If BTC continues to consolidate, I believe we continue to see this extended ALT strength period until BTC breaks into its next leg higher.
Overall the markets have corrected their bullish posture, shaking off last week's drawdown.
Be sure to check out the next release of this weekly series on 1/25/21. I would greatly appreciate all and any feedback to continue improving this content and my trading abilities.
Feel free to reach out on Twitter!
For those looking to get started trading, here are my referral links to exchanges I prefer (You will also get a 5% discount on trading fees):
It is still crucial that individuals make financial decisions based on their behalf or consult a professional financial advisor at the end of the day. None of this content is financial advice.
Cryptoshrimp5 (AMA Host): It’s my pleasure to have CyberTime Team with us on BSC News for an AMA. @dimabosh We have kept you waiting long enought shall we start the AMA?
Dima Boshenyatov: Yes, let's start
Cryptoshrimp5 (AMA Host): Awesome
Q1 Maybe we can start off with an introduction on yourself and your team members, and also any past experience in crypto world.
Dima Boshenyatov: Now in CyberTime working 7 team members:
- 3 developers
- Designer
- 2 marketers
- Content maker
I have been in blockchain since 2013. I have experience as a marketer and product specialist. I launch several startup on Blockhain and created mobile apps with an audience of 1 million users. Developers also have extensive development experience. There are several implemented DeFi projects behind. Since we are doing NFT, we have an amazing designer. She not only makes incredible NFTs, but also thinks through the UX / UI of sites Marketing works well for us too. Over the past month, we have done a lot, and with a limited budget.
Cryptoshrimp5 (AMA Host):thats a decent team you have
Q2 can you tell us more about Cybertime, what is it all about?
Dima Boshenyatov: We create first NFT Marketplace with Fantasy Teams and Crypto Artist Tokens. It will be held seasons (25-30 stages in each season). Each stage lasts approximately 2-3 days.
How will the stage proceed?
1. Crypto artist uploads his works to the platform before each stage
2. Before the start of voting, a draft window opens. Each Fantasy Teams member can create their own team of crypto artists and their works. Who, in his opinion, will gain the most votes, who will sell their work the most, etc. Anyone who purchases a Fantasy Pass using the native NFTL token can participate. This is just one of its uses. There will be a leaderboard who scored the most points with the Fantasy Team, and there will be cash prizes for the winners!
3. Voting / pre-sale starts. There will be two types, voting - love and money.
- Love is when you can like the author, write a comment, give a badge (exclusive NFT from our platform)
- Money. People transfer money for NFT. All the money will go to the author of the work, but the biggest bet will eventually take the NFT itself.
4. After 7 days of voting and discussion, a 24-hour auction opens. Everyone who deposited money at the previous stage gets the opportunity to buy NFT. Highest bet wins
5. If the works are not sold, they end up on the secondary market. The starting price of all works is $ 20 and counts down 24 hours to $ 5. Any member can buy at any time. If the work is not sold at this stage, it automatically goes to the NFTL fund. Once a quarter, there will be a charity sale of all NFTs in the fund and the proceeds will be donated to charity (the community will choose which charity to send money to after each sale)
Cryptoshrimp5 (AMA Host): so basically after loading the art piece onto the platform, the artist has to form their own team? or the system will assign them randomly?
Dima Boshenyatov: Not certainly in that way. Crypto artists upload their work and that's it. Platform users (maybe artists) make up their Fantasy Team for a specific stage. For example, 3 artists and 5 works. I believe that they will sell a large sum at this stage. This is how it works
Cryptoshrimp5 (AMA Host): i see so the platform users can choose and form their own fantasy team of artist..
Q3 Under this fantasy team competition, what are the rewards and how beneficial is it for them (both the platfrom users and artists) ?
Dima Boshenyatov: Opportunity for crypto artists:
- Earn not only by selling work, but also by voting
- Make money selling your work at the final auction. You may not even take a prize in the voting, but successfully sell at the end. There remains a moment of unpredictability
- Declare yourself to the world. Absolutely everyone can participate in competitions: unknown artists and super popular. The contests bring together crypto art connoisseurs in one place. New stars will light up
- Fantasy League makes people look at art differently. On the one hand, you enjoy the work, on the other hand, you try to catch the "trends" and guess the mood of users and popular works / authors at the moment
Opportunity for users:
- It is not necessary to buy NFT, you can support the author during the voting. All voting history will be saved in users wallet
- The ability to create your own Fantasy Team from cryptoartists and their works. Fantasy Team helps you get involved in contests, follow authors and trends
- Possibility to buy works of any of the participants in the competition. This is not just an NFT, but an NFT with history. It could be the winners of one of the stages or a rising star of the NFT scene. The community itself will create history
- Get cashback for buying NFT with the native NFTL token
Cryptoshrimp5 (AMA Host): thats good opportunity for both the artist and users
Q4 I understand that cybertime farming has just started, how can one take part in it? eg where to buy the tokens etc?
Dima Boshenyatov: We started farming today! You need to go to cybertime.farm and start farm Not everything is perfect, but we are working to improve
Q5 there’s a whole page of explanation on farming vs buying is there a TLDR for our audience and if they wanna know more im sure they can have the link to read up more on it too.
Dima Boshenyatov: Yes, I write big article about farming. This is in our docs - https://docs.cybertime.finance/products/cyber-farming/farm-or-buy It was with ETH gas fee, so on BSC it looks much better
Cryptoshrimp5 (AMA Host): thats a good link for the community to check it out
Q6 what are the use case of $CTF and $NFTL, like future development of the tokens, this will interest the long term investors too
Dima Boshenyatov: What are the benefits for $NFTL holders?
1. NFTL will be the platform's key token. Artists' works will be sold for NFTL, there will be a crypto token market for artists paired with NFTL, NFTL can be used to buy access to Fantasy League, etc. The demand for a token increases its value.
2. We thought to make a burn rate to reduce the number of tokens (we will raise this issue later at the DAO voting), but now we are thinking about developing an accelerator for NFT artists, young teams in the field of NFT, creating cross-chain solutions for NFT, virtual worlds on BSC base, etc.
3. We planned to send 25% of the income from the platform to NFTL / BNB liquidity providers
What are the benefits for $CTF holders?
1. Participation in voting for the development of the project
2. Participation in the distribution of funds from the community development fund
3. 100% of the league stages for BNB will go towards the CTF buyback at market price. 50% will go to the community developer fund, and 50% to CTF / BNB liquidity providers
4. 25% of the profits of all products of the ecosystem (NFTL.art, cybertime.art and others) will be directed towards the buyback of tokens from the market and distribution among liquidity providers and the fund
Cryptoshrimp5 (AMA Host): so both tokens will be using different strategy to reduce the sell pressure?
Dima Boshenyatov: Yes, right
Cryptoshrimp5 (AMA Host): thats superb
Q7 lately we have Certik and Saffron talking about safety and security for the community and insurance for the project, is cybertime planning on any of this? or there’s other plans on keeping the project safe ?
Dima Boshenyatov: Yes, safety is important. We do security audit by Adesh Kolte. Adesh is an Independent Information Security Consultant focusing on security assessments (applications, infrastructures and smart contracts). Previously worked as bug bounty hunter with Multiple organizations like Microsoft (MSRC), Apple, Google, Zoho, Siemens etc.
You can check it in our Docs - https://docs.cybertime.finance/security-audit
Q8 how is cybertime helping the investors in terms of tokenomics, to maintain the price and protect their investment besides the above mentioned strategy of burning and buy back, like will there be vault or compounding or other kind of startegy?
Dima Boshenyatov: We are all about NFT and crypto artists. Already, there are investors who invest part of their capital in NFT.
Cryptoshrimp5 (AMA Host): so it benefits alot of artist and also NFT lovers will love cybertime
Q9 what has Cybertime accomplished so far?
Dima Boshenyatov: We launched farming - this is a major achievement. Created 2 tokens and several farming contracts. You can all contracts here - https://docs.cybertime.finance/pool-contracts. Now plans to start work on the NFT Fantasy League
Q10 Im glad we are early in this NFT fantasy League developement, what are the short term development that the team are currently in progress with?
Dima Boshenyatov: Since initially we wanted to launch on Ethereum, but when we switched to BSC (and we are very happy about it), then more moments were opened that we would like to work on:
- ERC-721 <=> BEP-721 Bridge. When can one conditionally transfer one NFT from Ethereum to BSC and vice versa
- Ethereum has Opensea, but there is no such strong player in BSC. I think there will be a lot of competition for this place in the near future.
- We are also planning to launch our unique NFT Time Collection series. More about it here - https://docs.cybertime.finance/products/nft-time-collection
Cryptoshrimp5 (AMA Host): thats great stuff with the bridge on ERC 721 to BEP 721. will this be in the near future or we have to wait quite awhile before we are able to see that happening?
Q11 that leads me to the nex question, any roadmap or future development that is being planned that might interest the audience?
Dima Boshenyatov: If we compare the tokens in BEP-721 vs ETH-721, the picture is BEP 108 vs ETH 8600. The difference is huge. But the implementation is not very simple. I think it will take time to implement this.
Dima Boshenyatov: Q1 2021
- Launch CyberTime Farming on cybertime.farm on Binance Smart Chain #BSC
- Create NFTL & CTF liquidity pools on PancakeSwap
- Create a unique NFT collection for farmers & stakers in Cyber Farming Week #1
- Community contests (MEME, Sticker pack, Evangelist)
Q2 2021
- Launch of the light version of the NFT Fantasy League and testing on users among the community
- Implement a balanced Fantasy Challenge mechanic
- Crypto Artists Tokens Marketplace
- Launch the first version of NFT Time Collection
Q3 2021
- Launch of the NFT League Platform and the start of the first season of the league
- Recruitment of participants for the DAO Fund on cybertime.fund
- Bridge development start ERC-721 / 1155 <=> BEP-721 / 1155
- Issue a token and exchange system for NFT Time Collection
Q4 2021
- Start packing the NFT League into the Fantasy League Platform service
- Launch voting system for CTF holders at snapshot.page
- NFT League Season 1 Grand Final
Cryptoshrimp5 (AMA Host): so on this roadmap, i can say we are rather early in the game as well.
Q12 do you have all the links/social media list that one can find out more about Cybertime?
Dima Boshenyatov: We are very active in 3 social networks. networks, but you can find others in the Docs:
Telegram - https://t.me/cybertime_eth
Twitter - https://twitter.com/cybertime_eth
Medium - https://cybertime.medium.com
Q13 lastly the famous question before we end this part of the AMA, is there any alpha that you can share with the audience today?
Dima Boshenyatov: Now all efforts have been devoted to the development of farming - cybertime.farm When it is launched, we will finalize it and start developing a platform for the NFT Fantasy League
Cryptoshrimp5 (AMA Host): Thank you Cybertime for your participation in the BSC News AMA. I wish you guys great success and maybe see you guys again for another catch up AMA too! The AMA transcript will be posted in BSC News once it is ready.
Decentralized Finance (DeFI) makes up one of the crucial aspects of the cryptocurrency market, partly responsible for the current bull run. These protocols actively take up a significant dominance of the entire cryptocurrency market. There is currently $39.92 Billion USD of total value locked (TVL) in De-Fi, equating to a 16.37% market dominance, which can be viewed on DefiPulse.
Significant action is taking shape once again on the Binance Smart Chain, known for its significantly cheaper transaction costs and almost zero cost of deployment on the network. This article will cover De-Fi indicators to help users stay relevant, vigilant of projects without real intentions, and evaluate DeFi metrics.
Defi moves at an incredibly high speed, making it almost impossible to track. The number of new applications continues to increase. This has only accelerated with a shift to the Binance network; the rate is virtually unprecedented. Here are indicators every DeFi investor should familiarize themselves with to keep up with decentralized finance’s rapid developments.
TVL is the first step to understanding the true worth of a project, whether undervalued or overvalued. The Total Value Locked (TVL) of a project is a measure of platforms use either by staking mechanism or liquidity provision available in a project. For example, in Uniswap, a DeFi Dex protocol, the TVL shows the total value of all the liquidity provided by projects listed for different token exchanges. Ultimately this indicator allows investors to know how much money is being used (locked) inside the protocol.
TVL is a reasonable risk measure of how much the market is willing to bet on a given protocol. It determines the confidence level of users of the protocol and shows the direction of investors’ interest. It also indicates the market share of varying DeFi protocols against each other. The higher the TVL, the higher the investors’ confidence in the protocol. However, it should be worth noting that TVL could be volatile as it depends on the staked tokens’ price and the minimum duration of the staking program.
APY refers to the staked returns as a percentage over a year. The value varies across different projects and is determined by the project’s yield incentives over some time (usually a year). As projects increase in popularity and gain traction, APYs gradually decline. Investors should be wary of ridiculous APY offerings as that’s a stress point for projects with no clue of what they intend to offer. Typically these tokens host ridiculously high yields at the cost of an extremely inflationary token -- which historically don’t perform too well. It is also essential to note that APY assumes compound interest, meaning a majority of gains won’t be realized until the end of the compounding period.
Investors making decisions based on project tokens total or circulating supply are very weary of high inflation tokens. These days, token TS or CS is not an exact determinant for project success. A small supply does not determine an impending boom in price as project tokens may come with the mint function enabled in the contract code, i.e., a project can mint new tokens over time. Inflation is not necessarily threatening, but too much of it may mean doom for the project. Always watch out for this using Etherscan or Bscscan to better understand the token supply and its emission schedule.
Tracking the project’s new token holders has proven a reliable strategy to gauge a project’s relevance. An increasing amount of new holders points to an increase in buyers and usage. On the surface, this may mean a rise in confidence level and rate of adoption of the project; however, one can manipulate this. It costs nothing for users or projects to open multiple addresses and spread tokens into this new address to game the system. Therefore investors shouldn’t take this type of strategy as a sole means of determining a project’s relevance.
Google Trends and Twitter Analytics are useful resources to check for the Defi project’s increasing popularity and relevance. People actively talking about an asset class fuels new speculation and increases growth. With Bitcoin, for example, an impending boom is usually indicated by the amount of increased search and use of specific keywords like “How to buy Bitcoin.” In Defi, keywords like “How to stake X tokens” “what is X tokens” are a strong indication of a project’s increasing popularity and demand.
Twitter and Reddit are two hotspots for cryptocurrency discussion. Dogecoin rose quickly when the world’s richest man Elon Musk and big influencers started tweeting about the coin, fueling heavy speculation. It same as when GameStop GME buyers melted faces and caused a heavy movement in the stock market, which resulted in Robinhood stopping sales of GME stocks temporarily. Social Data is highly lucrative for DeFi applications and a sure sign of the growth of a project.
When tokens move into an exchange, it is one of two purposes, to act as collateral for trading on futures or margin market or to sell tokens on the market. It could pose a risk of a big sell wall incoming when the movement is pretty high or when the moved funds are considered very high. The large sale of tokens creates an excess supply against demand which can cause a fall in price. Monitoring wallets for these movements is a fail-proof strategy adopted by DeFi traders.
Market capitalization refers to the total value of all the projects token locked in the circulating supply, i.e., each asset’s price multiplied by the circulating supply. Comparing this to the TVL indicates if a project is undervalued or overvalued. This is easily calculated by dividing TVL by market capitalization. Suppose the resultant ratio is higher than 1. In that case, i.e., TVL is higher than market capitalization, the project is still undiscovered, indicating that its current value is yet to match its real value.
It is best not to work with only one of the indicators listed in isolation, as it is better to have a mix of a combined strategy to give the best result. No single indicator is a 100% fail-proof strategy, as even projects with the best valuations can likely fail. Using these indicators when investing and trading will, over time, strengthen any chosen system adopted. It is important to note that learning should ideally come first before earning, the horse before the carriage.
Always take profit, no matter the indicator used. The cryptocurrency market is still very volatile and can knock off even the best projects with the best hands. Stay SAFU on your investment!
Check out GoonTrades' latest article to his series "Monday Market Recaps" (MMR). This weekly post will contain his insight on the overall crypto markets and the BSC through technical analysis.
The overall market has now shaken off the ~20% market drawdown, and many ALTS have continued to grind higher. Last week, I had a couple of trades miss and a couple hit; overall, it was a red week due to bad trade management.
Last week, I cut one of my winning trades too early instead of following my strategy. To best capitalize on these volatile and parabolic markets, I focus on pyramiding or averaging up into my positions. This allows me to continue adjusting risk accordingly while simultaneously growing my position size in the chance of catching an excellent move.
This trade on BNB displays a perfect example, and it even gave me multiple re-position areas (places to add).
While hindsight is always 20-20, this trade was a solid entry; one taken with half size. From here, I should have been looking for my first take profit and a position to add more to my line. I ended up taking profit at my first target as I had to deal with some personal matters, but looking at the current chart, the mistake I made is blatant.
Overall, seeing this trade pan out helps build my confidence to trust and follow my system. While I am still unable to prove its expectancy, I'm not going to fix what isn't broken. 😊
Enough with the reflection.
Currently, on the 8hr and higher time frames, BTC is consolidating into a wedge. These patterns have very favorable odds of breaking to an upside, especially with BTC in a bull market. An entry I would look for on BTC is on the tests of the primary trendline. A more specific entry I am looking for is a breakout of the primary downtrend and a bullish re-test around the 38K level.
Overall I am not looking for entries into resistance or in "no man's land," my key here is sticking to trades that are high conviction, ones that appear to have a + EV. I think the default scenario here for BTC is that we range in this wedge until there is a breakout, the odds favor a flight to the upside, but pick efficient entires to mitigate overall risk.
BNB has seen a rapid recovery as it continues to trade in price discovery. Currently, BNB is offering an entry off of the Daily level at 44. As for the risk: reward, I have a wide stop on this trade to account for the elevated volatility. The W support at 41.5 also looks to be one of the most significant support levels at writing.
Overall, I continue to maintain my bullish posture on BNB, as it offers an entry yet again. As for the profit target, if I took this trade, I would set my first TP just shy of 50.
OMG is a layer-2-scaling solution for ETH, which is poised to be a massive beneficiary of ETH's scaling issues; enough with that, this is a market recap, not a project review.
I have been accumulating OMG in this current bull-flag/wedge formation. The perfect entry on OMG was off the M level at 2.5, so I would not recommend buying into resistance.
As for adding to this position, I want to see my initial thesis validated, a breakout of the bull flag. If and when the downtrend breaks, I will be looking for an entry on the breakout's bullish re-test in confluence of critical support.
CAKE has also continued to grind higher after its muted sell-off into support. This token remains near the top of my bull-list for many reasons, both fundamentally and technically. As for an entry on CAKE, a re-test of previous pivot highs or a bullish re-test of the W level at .60 could permit an entry. Overall, this name offers unrivaled yields at .5% daily, and the team continues to provide innovation to the BSC. If that's not enough of an indication, the chart doesn't lie either, printing a very bullish advance.
On a side note, I am currently debating charting more BSC tokens. I would not be opposed to doing some "fun" TA on well-established BSC names such as BIFI, DRUGs, FRY, ETC. For those who wish to see this, please give me feedback on my Twitter, and I will try to include it in the following release.
DeFi has continued to heat up with many "Blue-Chips" surpassing all-time highs (ATH's) set in mid-August. I don't see this trend cooling-off any-time soon as De-Fi continues to push the use-cases of blockchain and decentralized technology.
This name is currently in one of the most prevalent patterns I have seen during this bull market. It has broken out and re-tested its primary bull-flag and is now forming a secondary flag. My entry was textbook, a breakout, and a re-test of the original flag. I have continued to add to this position but have my risk well defined; a break below the previous pivot and I will trim my position. Currently, I am very bullish on this name as a proxy to De-Fi as a whole.
Money is beginning to flow into lots of ALTS as we see 30-50% rallies in names such as CRV, ADA, LINK, OMG, and SUSHI. If BTC continues to consolidate, I believe we continue to see this extended ALT strength period until BTC breaks into its next leg higher.
Overall the markets have corrected their bullish posture, shaking off last week's drawdown.
Be sure to check out the next release of this weekly series on 1/25/21. I would greatly appreciate all and any feedback to continue improving this content and my trading abilities.
Feel free to reach out on Twitter!
For those looking to get started trading, here are my referral links to exchanges I prefer (You will also get a 5% discount on trading fees):
It is still crucial that individuals make financial decisions based on their behalf or consult a professional financial advisor at the end of the day. None of this content is financial advice.