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What We Are Watching

We further breakdown our case for these cryptos here : What We Are Watching

Are you buying these tokens? Did you read our guide on how to buy them on Sushiswap and Uniswap? Got questions? Leave them in the comments.

Crypto News

• A data-driven exploration into why crypto is a lot different today than in 2017

• How Bitcoin Is Giving Elderly El Salvadorians A Reason To Smile -Forbes

• Melania Trump wishes BTC a Happy Birthday

• Marathon Mined 3,197 BTC in 2021, an 846% increase YOY

• Only 10% of Bitcoin Supply Left to Be Mined

• Latin America to Become The 2022 Bitcoin Mining Giant

• 59 Companies and Several Countries Are Holding A Total of 1.49 Million BTC

• Italy Top Bank, Banca Generali Adds Support For Bitcoin

• Nearly $34 Billion Worth of ETH Locked in the Ethereum 2.0 Deposit Contract

• Ethereum Community Proposed New Sharding Plan

Will Clemente @WClementeIII

GM

January 4th 2022

15 Retweets230 Likes

BTC Outlook

BTC has officially spent a month in this consolidation pattern. We are biased still to the price staying in this box. One of the reasons is the altcoin markets are catching a bid still. There’s still buyers in the crypto market they just don’t care about BTC as long as it is above $45k.

Except this orange down trend to break at some point an a retest of $50k. It tends to be a bad idea to short support. So, you could go long here and try another short near $50k.

Possible Course of Action

• If you shorted at $51k you should probably close this

• Pick up a long on a breakout of the orange down trend

The Bulls’ Defense:

• The price holding above $46 as support would be a show of strength and an indication that buyers are present between $45-$46k

The Bears’ Prosecution:

• Price was unable to breakout of rectangle. Could be a bull trap.

• Multi-week downtrend could continue. $50k has been rejected multiple times. $40k would be next major support. Based on recent price action it’s possible $30k is wicked to again on some exchanges.

ETH Outlook

ETH’s current setup looks similar to last September. We are bullish bias here and expect ETH to have a larger price movement to BTC if both breakout of their mid term down trends.

Possible Course of Action

• Do nothing

• Could look to open a long here or at the bottom of this wedge

The Bulls’ Defense:

• EIP-1559 has burned $5,210,735,207 (1,349,567 ETH) so far. Supply constraints should continue to have a positive impact on price.

• Falling Wedge Pattern has Bullish Bias

The Bears’ Prosecution:

• Continuation of multi-week downtrend and consolidation

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gm- “expressing good wishes on meeting or parting during the morning the internet.”