From: Rekt Capital rektcapital@substack.

com
Subject: Altcoin Newsletter #60
Date: 17 December 2021 12:10
To: mmatsubara1001@gmail.com

Altcoin Newsletter #60

My exclusive commentary on 9 Altcoins
Rekt Capital
Dec 17

Welcome to the Rekt Capital newsletter, a resource for people who want to
better navigate the crypto markets with the help of cutting-edge crypto
research and unbiased market analysis.

Every Friday, I host an Altcoin TA session where I share my exclusive

commentary on the price action of a wide variety of coins requested by all of
you - valued supporters of the newsletter.

I share charts on the 9 most requested coins by you.

In today’s Altcoin newsletter, I cover 9 different Altcoins, specifically:

Avalanche (AVAX/USDT)
OMG Network (OMG/USD)
Polygon (MATIC/USDT)
Chainlink (LINK/USDT)
Polkadot (DOT/USDT)
Crypto com (CRO/USDT)
Basic Attention Token (BAT/USD)
Syscoin (SYS/BTC)
Ethereum (ETH/BTC)

Avalanche - AVAX/USDT
Avalanche - AVAX/USDT

AVAX has been able to reclaim the green level as support.

But what it’s struggling with is reclaiming the multi-week trendline as support
(black).

Monthly Close below it and AVAX could see another revisit of the green level.

OMG Network - OMG/USD

When the AirDrop occurred, OMG rejected from the red resistance area,
which has historically been a strong point of rejection.

Since then, OMG has experienced a major correction.

Now reached a multi-year Higher Low (blue) which is where OMG is trying to
find a support.

Monthly Close above the blue HL should be enough to confirm this HL as a

continued source of demand.

Polygon - MATIC/USDT

Ever since its successful retest of the macro Flagging structure, MATIC has
performed some upside moves but never any really sustainable ones.

This is because, over the past few weeks, MATIC has been consolidating
inside a Monthly Bull Flag (black).

A Monthly Close above the Bull Flag would be the trigger for new uptrend
continuation but until then - MATIC will consolidate here.

Chainlink - LINK/USDT

After two months of downside, LINK has revisited the bottom of its macro
triangle.

LINK hasn’t experienced more than two months of downside while respecting
this market structure.

The base of this triangle is supported by a historical demand zone (green)

which will figure as a confluent support with the Higher Low of the structure.

Of course, downside wicking deeper into the green area is a possibility, but
as long as LINK can Monthly Close above the black Higher Low - the pattern
will remain intact and LINK will macro consolidate further, perhaps even
challenging the top of the pattern over time.

Polkadot - DOT/USDT
Polkadot - DOT/USDT

Looks like a macro Double Top but because Bitcoin has been respecting
historically recurring price tendencies, this Double top has a fair chance of
invalidating.

DOT is now approaching the black Monthly support level but losing it would
precede a visit to the red level below which would de facto be the validation
point of the Double Top.

Should DOT indeed lose this black level, I’d watch out for invalidation signs in
and around the red level (e.g. a new Higher Low).

Crypto Com - CRO/USDT

CRO broke out from a macro Ascending Triangle and while a pullback into
the top of this structure would be a healthy technical step - it isn’t looking too
likely given how CRO is showcasing support at a higher price level.

This retest is always going to be in the back of my mind, should we get it at

all, but as long as this price stability at the local red level here continues, then
a shallow pullback may be enough for CRO.

Basic Attention Token (BAT/USD)

BAT enjoyed a phenomenal move a few weeks ago but failed to successfully
retest the top of its structure as support to confirm the new uptrend.

Recently, BAT confirmed the black diagonal into a new resistance once again.

On the flip side of that though, BAT continues to maintain its red area as a
support region which is confluent with the blue Higher Low.

As long as BAT maintains this confluent demand area, it will always have a
chance at attempting yet another breakout beyond the black diagonal.

Syscoin (SYS/BTC)

SYS has broken out from its macro Ascending Triangle (black) but has
entered a new range by the same token (black-red boxed range).

This is where SYS could see some consolidation, especially if SYS rejects
from this red area and sees its way to the black Ascending Triangle top for a
retest attempt.

For further upside beyond this black-red range, SYS would need to perform a
retest of the red area into support (orange circle, like in early 2017).

Until then however, looks like re-accumulation.

Until then however, looks like re-accumulation.

Ethereum (ETH/BTC)

Ethereum is still in the process of retesting the top of its multi-month blue
triangle as support.

Ideally, this retest should Monthly Close above the red box to trigger an
ascension into the red-green range above.

Still well-positioned at this time, but ETH/BTC needs to flip the red area into
support to claim it as a new Range Low and rally to the green Range High
above.

Such a turn of events could kickstart the ALT/BTC Bull Cycle.

Thank you for reading.

P.S.

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