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FG Cheat Sheet 011122
www.cryptofootguns.com

FG Cheat Sheet 011122

Bitcoin CEO acquires BAYC #69

Jan 11
9
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FG Cheat Sheet 011122
www.cryptofootguns.com

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CHEAT SHEET

Pink = Bearish, Blue = Bullish, Orange = Neutral since the date given in “Bias Since”. Support levels are where the price could bounce when falling and Resistance levels are where the price could stop if rising. The black outlined boxes show the price at the time of cheat sheet creation. You can find more details on how to read the cheat sheet here.

What We Are Watching

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

Pink = Bearish, Blue = Bullish, Orange = Neutral since the date given in “Bias Since”. Support levels are where the price could bounce when falling and Resistance levels are where the price could stop if rising. The black outlined boxes show the price at the time of cheat sheet creation. You can find more details on how to read the cheat sheet here.

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

  • Pantera Capital CIO: 50% Of World’s Financial Transactions Might Involve Ethereum (ETH) in 10 Years

  • Polygon Launches ‘Plonky2’, A Major Step Towards Ethereum Scaling

  • You gone need a eTh address to hear this new mixtape

  • Cash App begins rolling out the Lightning Network

  • Billionaire Investor Bill Miller Now Has 50% of His Personal Wealth in Bitcoin

  • Bitcoin miners show strength as hashrate holds despite price action

  • Two Golden State Warrior Players To Receive A Bitcoin Salary

  • SEC delays decision on NYDIG’s Bitcoin spot ETF by 60 days

  • Blockstream’s 2021 in review


Twitter avatar for @FarmerBrownDeFiFarmer Brown @FarmerBrownDeFi
going to make it all back in one trade gn

January 11th 2022

1 Retweet51 Likes

BTC Outlook

We think BTC has a chance at a relief rally this week. The price may rise to retest the bottom trendline. If BTC continues to follow near this bottom trendline in the coming months except the price to stay between 40k and 60k until Q2 or summer.

Also, if you go look at ALT/BTC pairs you’ll see that over the past few days altcoins have been selling off while BTC has gone up slightly. This is most likely people capturing gains and locking them into what they perceive as “cheap” BTC.

Possible Course of Action

  • If you were long since pre-10k this would be a place to consider scaling out

  • Could open a long here excepting a retest of $45-50k

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-month 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.

Earn Interest on your Bitcoin

ETH Outlook

ETH fell through the long term trend line like a rock. However, it appears to have stopped right inside what we call the “Fibonacci Golden Pocket” (shown in red). If you are a long time Foot Guns' reader you’ll know that we like these spots for buying. Historically, this is a good buy zone anticipating a short-mid term turn around.

Possible Course of Action

  • Do nothing (wait for consolidation)

  • Could look to open a long here betting on this golden pocket

  • We wouldn’t recommend shorting since the price has already fallen so much

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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