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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.
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Crypto News
Australia’s Largest Bank to Allow Customers Crypto Trading
Ethereum ETF Is Coming Q1 2022 – Bloomberg Intelligence
Bitcoin is expected to reach $98,000 this month, according to PlanB
Mayor Candidate Eric Adams Who Said He Will Make New York City Center Of Bitcoins Wins NYC Mayor Title
“I underestimated Bitcoin,” says PayPal co-founder
Bitcoin Outlook
Bitcoin continues to consolidate on the handle of this large multi-month cup and handle pattern. The story hasn’t changed since Tuesday. Except the price to consolidate here and a breakout that leads to a multi-week rally.
As always anything could happen. A break down to say $55k would be hard to come back from in the short term.
Possible Course of Action
Stay long if long.
Add to a long on a breakout to the upside of this handle
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
ETH OUTLOOK
ETH its definitely going up right? Volatility continues as ETH’s daily RSI fails to get above 70 again and we are now seeing more consolidation near the ATH. At this scale if you ignore the daily volatility the price is definitely going up and to the right.
$5000 ETH is probably going to happen ala big round number.
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 $3,440,849,881 (759,201 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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