Thread by @the_economystic

1/ What up! 😆✌️ BULLISH #EGLD Market Update T.A. ⚡ @ElrondNetwork - Couple days ago U saw my market update with bearish perspectives, but U know my perma-bull never left! 👉 Balancing perspectives is key! 🔑 Expect downside yet maintain exposure to capture the upside! 🧠🔥🧵

2/ Before we get into it, some key elements to the plan for success: 📝💡

→ Capture the average
→ Make few trades
→ Maintain exposure

Your brain is a muscle, therefore I remind U the importance of muscle memory & that it applies to trading! Train regularly & consistently.

3/ When training 🏋️ it's vital to develop muscle memory with proper technique AND recovery! We must give our muscles the proper time ⌛ and nutrition 🥩🥗🥛🥔 to recover. 😴

In trading 📈 this equates to sitting on sidelines while volatility seeks to suck U in.

4/ Each time U go to the market to trade, you're calling your brain to assess: "Should I sell? Should I buy??" 🤔 Each time U immerse in the market, U are effectively immersing into the market's #sentiment: a volatile, unpredictable & manic beast. 👉This influences your brain! ⚠️

5/ Caution ⚠️ - Have U ever made a trade right after U read an article or tweet online? 👉 Poor technique! 👎🙅 Watch only the mirror to check your own form!

❤️‍🩹 Taking breaks gives your brain a clean wash to a neutral state & exposes YOUR true feelings and action plan! 💪

6/ Really hope that makes sense! 🙌 Now let's get into it! Short and sweet. 🤌

"Capture the average" is to keep is simple! It's detrimental & unproductive to remind yourself that U bought higher. Take control! ✊ Buying lower literally decreases your average cost of entry.

7/ Bear markets are unavoidable & they happen when least expected - when euphoria of bull market is at highest! Those here when @MaiarExchange launched saw price rise to $560. This happened solely because people needed, *demanded*, $EGLD so they could participate in DEX farming!

8/ During bear markets people exit the market, adding more supply rather than taking it away - which is what happens in bull runs. Circled in red below I make the case that demand is STILL present during this downtrend, and we KNOW this. People using $EGLD need to have it!

9/ i.e.

Staking $EGLD → need $EGLD
Maiar DEX farming → need $EGLD
$RIDE token listing → need $EGLD
Launchpad lottery → need $EGLD
Minting NFT's → need $EGLD
Buying NFT's → need $EGLD
Managing DAO's → need $EGLD

There's more I could add to this list...

10/

→ 7 Nov 2021: users began removing $EGLD from stake to participate in farming @MaiarExchange.

→ 15 Dec 2021: Staked $EGLD bottomed at 10.6M.

→ Over past 8 months:
👉 DEX amasses $378M T.V.L. ✅
👉 2.65 million $EGLD, currently worth $132M, added back to stake. ✅

11/ To supplement this growth data, over this same 8-month timeframe, total $EGLD addresses has doubled from 881k to over 1.7 million. On average over 100k new $EGLD addresses are being created each month. 💪

12/ "Capture the average" means zoom out! Zoom out means to separate the value of @ElrondNetwork far from how the market is pricing it. The market trades on short-terms & fails to recognize value and use. *ALL* activities within the network are be fueled by native token $EGLD. 🪙

13/ @ElrondNetwork has defined phases of its 3-5 year bootstrapping*:

1. Establish Elrond as a global public utility within
internet ecosystem

2. eGold will becomes an efficient medium of
exchange

3. The token becomes a robust store of value,

*elrond.com/assets/files/e…

14/ Bring it around: Focus on keeping your brain clean: washed, neutral & "sober" from online influences that cloud your understanding of 1 - What @ElrondNetwork seeks to accomplish & 2 - the potential value of this native token $EGLD.

Train especially well in bear markets! 🧠🙌

15/ In the event that $EGLD has bottomed, this floor being defined will fuel another run that will logically grow to retest _resistance_ previously established both by support breaking on the way down & price rejections on the way back up. Bulls buy & entice bears to buy back in.

16/ Take a closer look...

17/ Let's walk through it first:

1. local bottom
2. rising wedge x2; consolidates uptrend
3. resistance, consolidation & continuation
4. local top
5. support breaks
6. support retest #1
7. resistance test #1
8. support retest #2
9. resistance test #2
10. support retest #3

18/ What I like about this price action is that price is currently working to build a floor at this previous level of consolidation that once before provided enough support to push price to a higher local top. A quick sell-off that buyers came in & fueled a run higher. 👍👍

19/ Here's another look at this range using Weekly candles. The long-term positive indication here is a bullish engulfing pattern which recouped the previous week's sell off and more.

👉 If bottomed, $EGLD could move higher without retracing any more of that green candle...

20/ This is the closest we'll look at price action today, 1-hr candles, and I must say that this is looking pretty productive the way price is behaving at this level! The market has been working to build a floor of support, and price is building & stair-stepping higher! 🏗️🏋️

21/ If support continues to build like this, here's a simple path to expect that would take us higher. I created this projection based off the impulse that preceded it, but since many are waiting for more downside so growth out of this range could move quickly due to #FOMO.

22/ Bear markets are no fun, but I promise U that buying as price goes lower will yield significant results once price enters the next growth phase. This thread detailed growth metrics that reveal there's FEWER $EGLD on the market for sale and MORE users on the network...

23/ This disparity WILL resolve, and prices for $EGLD we see today will quickly change once market sentiment begins providing encouragement that there's stability in the market, which first begins with #btc.

#BTC needs growth. We're watching. 👀

https://twitter.com/the_economystic/status/1546406415752867840?s=20&t=DOwtJCGr5UMOovwnJOW-sg

24/ It is SO easy to maintain exposure to this market during the bear market thanks to staking and farming on @MaiarExchange. If you spend proper time training 🧠👟💪 during the bear market, your timeline should set on long-term & every bit 🤏 of yield we collect is priceless. 💰

25/ We're here in the trenches together & I'm super excited to celebrate with y'all once we're out of this bear market. The bear makes U feel crazy but trust that the time will come. #hodling & #BTFD will change your life; train & understand the future value of @ElrondNetwork. ⚡