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FG Cheat Sheet 010221
www.cryptofootguns.com

FG Cheat Sheet 010221

Bitcoin rises 3.5% over night

Nov 2, 2021
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FG Cheat Sheet 010221
www.cryptofootguns.com
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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

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.


SUSHI may be rising in anticipation of new Shoyu metaverse launch.

Twitter avatar for @SHOYU_NFTShōyu @SHOYU_NFT
Welcome to the Shōyu metaverse. This is the final teaser, as we look forward to seeing you later this week 🤍

November 1st 2021

315 Retweets1,255 Likes

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

  • President Bukele: El Salvador to use Bitcoin profits to build twenty schools.

  • Mastercard will allow banks to offer cryptocurrency services

  • Binance Temporarily Disables All Crypto Withdrawals, Cites Backlog

  • Banks Tried to Kill Crypto and Failed. Now They’re Embracing It (Slowly).

  • Crypto Cities, by Vitalik Buterin

  • Ethereum Is Now the Primary Collateral for Decentralized Stablecoin DAI

  • Houston Rockets now accept crypto for merchandise.

  • Burger King Offers US Customers Bitcoin, Ethereum, and Dogecoin Giveaway

  • Ethereum Name Service announces governance token plan

  • Ethereum NFT Metaverse Game The Sandbox Raises $93 Million


Bitcoin Outlook

Bitcoin looks to be forming a massive cup and handle over the year. A confirmed breakout from this handle would have a price target around $95k. However, the price could keep consolidating in this handle before finally going up.

Nothing is guaranteed but this looks bullish.

Possible Course of Action

  • Stay long if long.

  • Add to a long on a breakout to the upside of this handle (it looks like the price is breaking out right now).

  • If the price begins showing weakness a short if we break the bottom of this handle could work.

The Bulls’ Defense:

  • Massive Cup and Handle formation on year scale

The Bears’ Prosecution:

  • Price could fail to break ATH and form a macro double top


Earn Interest on your Bitcoin

ETH OUTLOOK

ETH is still going up but you wouldn’t believe it. The daily price swings and weekly price swings has made it feel like ETH is barely rising. There is some bearish divergence because the RSI is declining with a rising price. However, this morning the RSI started rising with the price again. For this rally to continue we’d like to see the RSI go above 70, that is when you’d expect some very fast upward price expansion.

Possible Course of Action

  • Stay long if long and are comfortable with high daily/weekly volatility

  • Manage risk carefully here. Don’t get chopped but don’t stay long if signs of weakness. A hard thing to do with this much volatility. Keep your eyes on the cheat sheet. The RSI can be useful to watch, but the cheat sheet should catch the same effect.

The Bulls’ Defense:

  • EIP-1559 has burned $3,247,336,822 (730,644 ETH) so far. Supply constraints should continue to have a positive impact on price.

  • Clear mid term uptrend

The Bears’ Prosecution:

  • Potential bearish divergence in RSI


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