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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

• Ethereum Leads Web3 Developer Count, with 700+ New Devs Each Month

• Coinbase Executive: I Am Optimistic About Major Ethereum Scalability Improvements In 2022

• Vitalik Believes Ethereum Is Halfway To Completion

• Building capability-based data security for Ceramic

• Ethereum Growth Rate Will Surpass Bitcoin Again in 2022, Bitcoin May Not Be the №1 Cryptocurrency Soon

• Flash Loans: Finance on Steroids

• Goldman Sachs: Bitcoin is Slowly Taking Gold’s Market Share

• 12% of BTC hashrate goes offline

• Demystifying Bitcoin’s energy consumption: How much does it really use?

• Bitcoin Q&A: Energy Consumption

• Congress is preparing an oversight hearing on Bitcoin mining's environmental impact: sources

• DeVere's Green: Bitcoin to become legal tender in three more countries this year

starbust @inversebrah

how does saylor keep buying the tops

January 6th 2022

15 Retweets531 Likes

BTC Outlook

BTC finally moved out of the rectangle we’ve been following for over a month now. While I’m sure anyone long BTC is upset it broke to the downside, we are just happy we have something to write about.

Above shows the long term trend lines that the BTC price has been holding as a rising floor for over a year now. IF the pattern continues the buying below the first line looks like an ideal entry for a multi-month position. However, the price is now hugging the bottom line. If the price falls below this line and does not recover quickly (a week maybe) then this could be the sign of a much more severe correction and we think $35k is the next support level if this structure breaks.

You can always short this but the price is at a long term support level. However, the situation was also true on Tuesday and last night BTC fell through the mid-term support level quickly.

Possible Course of Action

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

• Scale into a long position here

The Bulls’ Defense:

• The price is currently holding the long term rising floor.

The Bears’ Prosecution:

• Price broke down from month long consolidation (teal rectangle).

• 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, as per usual, has a similar story to BTC. However, ETH has a more well defined rising price floor. There’s not much else to add to the BTC analysis above. Unless this is the end of the bull market and we are going into a multi-month bear market this is probably a buying opportunity.

We would be hesitant to short this.

Possible Course of Action

• Do nothing (wait for consolidation)

• Could look to open a long here betting on this floor holding

• Could short with a tight stop

The Bulls’ Defense:

• EIP-1559 has burned $4,681,873,372 (1,376,208 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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wagmi- “The last sound a bull makes before being slaughtered by bears.”

Tom Emmer @RepTomEmmer

Call your Representative and tell them to join the Blockchain Caucus.  wagmi

January 5th 2022

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