FG Cheat Sheet 100521

Bitcoin rises 2% over night.

Oct 5, 2021

Don’t miss this weeks private podcast where Hal and Boomer discuss the outlook for crypto markets.

CHEAT SHEET

Red = Bearish, Green = Bullish, Brown = 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

This is what we said Sept 30th about MATIC

The risk/reward on MATIC is looking good. If the supports hold that’s a 10-30% gain before hitting the resistance levels (the price was at $1.12).

Are you seeing how to use the cheat sheet?

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.

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Crypto News

Bitcoin Surpasses Facebook in marketcap (LOL)
Mastercard says they will work with CBDCs, stablecoins and cryptocurrencies
Bitcoin Has Already Effectively Replaced Gold, According To Billionaire Investor Chamath Palihapitiya
Credit Suisse Creates Ethereum-Based Shares in Swiss Sports Resort
Bitcoin Is Stronger After China’s Crypto Ban: Edward Snowden
“Bitcoin will be one of Brazil currencies soon,” says deputy who promotes new law
Deep Dive in to SUSHI
Check out this blockchain powered battle royale game built on Minecraft.

Looking Back

Did you do your homework? Do you remember what we said last week?

Open a long on a break out to the upside of the wedge pattern.

Bitcoin Outlook

Have you heard that phrase, “TA is astrology for rich white men.”

Mercury entered retrograde Sept 22 and that ends October 18th.

Bitcoin is at $50k, READ our article : #25 It’s Over 9000!

ETH has broken out from this falling wedge pattern and is now consolidating near the 0.618 Fibonacci retracement level. The price is consolidating and appears to be forming a potential bull flag. The price should continue to move higher off of this consolidation.

Possible Course of Action

Stay long if long.
Get long, stops at $3300.

The Bulls’ Defense:

EIP-1559 has burned $1,457,093,319 (438,889 ETH) so far. Supply constraints should continue to have a positive impact on price.
Break out from falling wedge.

The Bears’ Prosecution:

Stall out at $4000 due to Big Round Number could have formed a macro double top.

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NFTs have been going wild and it’s a lot to keep up with. If you’d like to follow along more closely with the NFT ecosystem we recommend you check out Morning Drop, “Your weekly dose of what’s minting, popping, and brewing”.

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