In my previous post I wrote some days ago (DeFi projects with big potential), I introduced some DeFi projects I am following, and today, I want to continue the topic talking about other four new projects I've added to my watchlist.
My first post was about KAVA, LEND, BAND, KNC and those charts I shared I've shown my thoughts about them because I think they have huge potential and are gonna grow in the next weeks/months. Yes, I am saying they gonna grow and even it sounds quite funny right now because these days they have grown a lot (we are talking about crazy % such as 50% for Kava, 107% for Band 40% for Lend), I think the party is just begun.
People still associating DeFi projects to ICO in 2016 but they haven't understood yet that the difference between ICO and DeFi projects is that we have a good product already working and offering intriguing - profitable options. The only thing they have in common is that can be the catalyst for the next bullrun such as ICO did in 2016 before the amazing bullrun in 2017.
So, right now, while I am writing this post, most of the projects are retracing and most of the people are celebrating because they think the bubble has burst. But my point of view is different. I just see just a normal retracement because as I said in my latest post, they are forming a C&H pattern so they are following what I expected. I think they are gonna have a retracement phase in order to form the "handle" and I see a great opportunity to buy the dips for being prepared for the next months.
So, today I want to share some new DeFi projects because I noticed they have got the same pattern of the other four above and they deserve our attention: LRC, PNT (ex - EDO), REQ, BNT, BAL.
All these DeFi projects are forming a C&H pattern on high timeframes (most of them on monthly and weekly TF) which enhance the vision/theory about the bullish trend for the next months (except for BAL which have the pattern on Daily TF but you know it is younger than others). As I anticipated in DeFi project with a big potential part I, even for these new "magic five", it seems they haven't formed the handle yet. It means they will give us the opportunity to accumulate during the next 2-3 months at very "cheap" levels before coming back to the path and skyrocketing.
So if DeFi is a bubble or not and if the situation is sustainable or not, only time will tell us. But remember, "trend is your friend". So don't stay there watching coins growing and let them go without joining them. Take advantage of the trends!
Let's see the chart here below and remember to let me know what do you think about DeFi and these projects!
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