Don’t miss last weeks podcast where we discuss crypto gaming, klima, and the signs of a bear market.
CHEAT SHEET
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
veDAO has launched in an attempt to win one of the new ve(3,3) NFTs launching on Fantom
A vampire attack on veDAO is underway from 0xDAO
Andre Cronje and Daniele Sesta appeared yesterday on Frog Radio and officially announced ROCK and SolidSwap. Listen to learn more. We’ve been following this story closely in our Discord as well.
Ethereum Beats Visa In Terms Of Values Moved In 2021 ($11.6 Trillion and $10.4 Trillion Respectively)
What is Ethereum Layer-2, and why should you care?
Google Cards To Store Bitcoin and Crypto : REPORT
Michael Saylor Says MicroStrategy Will Never Sell Its Bitcoin
Top EU regulator urges ‘ban’ on crypto mining that he claims is sucking up renewable energy
BTC Outlook
We havne’t zoomed in for a while because BTC has just been slowly crawling sideways/downward. Finally, yesterdays price action leading into this morning has created signs of a bottom. Only time will tell if this is a fake out of indeed a temporary moment of reprieve after almost a month of negative price action. Yesterday would have been a good time to get long. Sit tight and stay vigilant. The broader markets are still on edge and the selling could return to BTC at any moment.
Possible Course of Action
Long this breakout
If long, stay long and look for a retest of $45k
Could try shorting near $45k
The Bulls’ Defense:
The price is breaking out from month long down trend
The Bears’ Prosecution:
Multi-month downtrend could continue. $50k has been rejected multiple times. $40k would be next major support.
ETH Outlook
ETH’s price continues to consolidate within the Fibonacci golden pocket we pointed out last week. This is probably a buy though requires some patients as the price may continue to consolidate near these levels.
Possible Course of Action
Do nothing wait for continued 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 $5,035,686,739 (1,570,276 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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