Week 52 | 12/27/21 - 12/31/21
By Matthew BrienenNews Flash
Wednesday 12/29/21: ProShares, a popular issuer of exchange-traded funds (ETFs) has set its sights on launching a new ETF focused on the metaverse. The ETF will track the performance of the Solactive Metaverse Theme Index (SOMETAV). The index’s top three weighted stocks include Apple, Nvidia, and Meta, the social media platform formerly known as Facebook.
Thursday 12/30/21: BlockbusterDAO has just launched with the goal of buying the defunct video retail chain, Blockbuster. "Our mission is to liberate Blockbuster," declares a pinned tweet from the DAO's official account. The DAO hopes to raise $5 million through the sale of non-fungible tokens (NFTs) starting at 0.13 ETH per [$483 currently] followed by a PR campaign, and finally making a cash offer to Dish Network, the current owners of the Blockbuster brand. BlockbusterDAO says after purchasing the brand, it will register all intellectual property in the name of the DAO.
Friday 12/31/21: Detroit rapper Eminem purchased one of the Ethereum-based Apes for 123.45 ETH ($452,000) on Thursday night and has since made the ape his profile picture on Twitter. Meanwhile, he appears to have collected at least 15 NFTs so far on OpenSea under the name Shady_Holdings ('cause he's the real Slim Shady). The digital agency Six has taken credit for the BAYC NFT sale to Eminem, writing on Twitter that their creator-focused agency helped secure the ape, which they are calling the “EminApe.”
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Bitcoin Technical Recap
Following the breakout of the black trendline on Dec 23, BTC was unable to test the anticipated yellow resistance band at $53,000, & instead rejected from the $52,100 level. We can see that price has once again found support in the upper portion of the purple band, affectionately named the "Bearlin Wall". BTC has found strong support in the $45,500 region. The black trendline that was previously serving as a ceiling of resistance is now acting as a floor of support. The bottom of this purple support zone resides at $44,000; this area needs to be maintained as support to avoid a spill towards the next major area of bids in the $37,000-$39,800 region.
BTC/USD Daily Chart
Ethereum Technical Recap
ETH stumbled more heavily than BTC in the recent sell off, failing to reclaim $4,100 as support & violating the low set on Dec 15. Price has since found support at the lower Fibonacci levels in the $3,630-$3,690 region, with 2 daily candle bodies closing above the 20% Fibonacci. Price now needs to reclaim $3,915 & $4,100 respectively as support to see more bullishness. A strong rejection of these zone could open up a greater spill towards the Dec 4 low at $3,330. Price has found support in the short term...all eyes on Bitcoin for the next move.
ETH/USD Daily Chart
Project Breakdowns & Daily Update Recaps
Didn't catch all the daily update streams? We've got you covered with highlights & links to the full episodes. Monday 12/27/21: Matthew Brienen discussed some recent developments in theSEC v. Ripple Labs case & what this means for XRP in the coming months. Brian Decker brought a landmark metaverse project on stream, Remark ($RMRK), highlighting the value of owning virtual land, leasing & tokening your digital real estate. Check out the highlight here.
Tuesday 12/28/21: Brian dives deeper into Remark, as well Ethereum 2.0. He also brought us the latest news from Binance regarding the upcoming burning of their native token $BNB. Analyst Matt Brienen covered some key technicals, as well as revealing the CryptoCharged portfolio & the $9,000 in positions the team opened. Track our live account balance.
Wednesday 12/29/21: The team was graced with special guest Peter Boockvar, Chief Investment Officer of Bleakly Advisory Group. Boockvar shed an abundance of light on the current Fed talks, interest rates, and Bitcoin as an investment. Dan & Matt closed out the show with a brief look at the charts, a potential "bump & rally" set up, and some final thoughts on the 2021 market.
Thursday 12/30/21: Technical duo Habib & Brienen took a look at BTC & ETH charts, alongside a study of some aggressive altcoin breakouts. The team took some questions at the end of the stream including "Will Bitcoin ever hit $1,000,000?".
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