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    Trade of The Day – RENDER AI

    • 18 March 2024
    • - 46 Comments

    Good Morning! So today (18th of March) on Trade of the Day, I’ll look again at AI and it’s probably the best sector to track throughout this week. Uh, obviously we’ve got the Nvidia conference, so Nvidia and pre-market is trading up. It looks like it’s gonna open green and may well trend up higher into the conference itself or as the conference progresses.

    As for the crypto way icons, I’m long RENDER, and I’m still long RENDER, it is actually the strongest of all of them. So even though it is, doing false breakout here initially, at least the potential false breakout, I think there’s decent odds that if AI as whole stays up, that RENDER will find support and rally back up looking at four hour bands here.

    May be to hold and see if, uh, RENDER can reclaim and move higher. Um, otherwise the rest of AI market is lagging slightly. There is a chance that with RENDER having already had a move, maybe it rotates now and something else pumps. I don’t know, I’m not really, um, I mean look at, all of them from a Zoom DAT perspective.

    RENDER went for the breakout, got sold into initially, NEAR has a lower high so far. Bittensor (TAO) are moving for a new high, World coin consolidating, AKASH (AKT) consolidating, OCEAN looks like a bottom nice reversal candle, but consolidating, uh, Fetch consolidating, AGIX downtrend, maybe trying to reverse, CLO failed breakout, GPT consolidating, Filcoin reversal, and then back to RENDER.

    So, I mean, with it being up with it all, being up so much, I’m not like super keen on AI Just in general, I don’t really think the conference is gonna produce massive pumps. The main trade I did on RENDER was this one.

    So it was from last down at the Lows. Initially, I was looking at what happens when it hits the highs so it hits the highs, comes back, fall back inside. For now, I think it is more likely than not to be uh, bullish dip and at least get bought up once, and make a new high. If from there it shows weakness, I’ll close and if shows weakness, I’ll close and if we fall back inside and keep consolidating, maybe I’ll close too.

    I don’t know, I mean, my expectation is I don’t think the NVIDIA conference is going to be a massive sell the news event, but I also don’t know if it’s gonna be hugely bullish. It is goof for crypto coins because they’re gonna be in the news. The smaller cap stuff is gonna be running.

    I know, uh, Professor Ayush talked about a bunch of them on our stream yesterday. uh, Ai AkitaX being one of them. Is that one? No, Was it Ai AkitaX? It wasn’t Ai AkitaX wasn’t it? Which mustn’t be on any? It must only be on, oh, uniswap. See, Ai AkitaX my f*****g retarded. It’s definitely AGIX, right?

    And OPSEC, is the other one. Yeah, AI AkitaX. So these ones have been moving there. The lower cap ones pushing up, uh, OPSEC was one up as well. They’re both starting to stall out. There’s a couple more he shared on stream. So, if you start to see lower real lower caps moving, that’s one sign, right?

    Uh, if lower caps are rallying this week and the major aren’t, that’ telling you that AI is close to done for this particular, you know, rotation and it’ll go back consolidating or downtrend . I mean, just after this length of a move, both the duration in time and also the price. Um, it can come, it can go further.

    And I do think that there’s an extra push to come because when it gets to the final blow off top phase, you know, you had this pump up, which looked like it could have been that, but then it fell back, consolidated nicely, made a new high. A lot of times the biggest push is right at the end.

    Nvidia Ai Conference and effect on Crypto Market, specially on Ai sector of Crypto

    Is that gonna happen? I don’t know, we’ll see. It’s Wednesday when the CEO or the founder of RENDER speaks, so we’ll see. So in, you know, to kind of summarize, I wouldn’t fade.it I wouldn’t fade AI here. I think it’s probably gonna go, most likely gonna go higher during the week with the conference. As long as Nvidia holds up and you know, the stock market doesn’t dip too much.

    Um, but I think outside of short term trades, there’s probably not a huge amount of upside to come in the near term. So, I’ll keep updating on that. Still long RENDER, holding it, waiting to see and we’ll see how it goes.

    Sayonara – That’s all for Today, Do give your feedback.

    Note:

    ow on everyday on the Calendar, Trade of the Day and it’s Analysis will be posted in the Blog. For More Blogs, related to learning crypto trading you can visit our website.

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