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FG Cheat Sheet 113021
www.cryptofootguns.com

FG Cheat Sheet 113021

Bitcoin rises 3.3% overnight

Nov 30, 2021
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FG Cheat Sheet 113021
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.


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Crypto News

  • Budweiser announces purchase of “beer.eth” ENS address and release of NFT collection.

  • Bitcoin Advocate Jack Dorsey Steps Down as Twitter CEO

  • Wyoming is on a mission to house 5% of the U.S. Bitcoin mining hashrate by the next halvening in May 2024.

  • Pokemon Go Creator Niantic Launches Bitcoin-Hunting AR Game

  • Bitcoin and Electricity

Twitter avatar for @saylor
Michael Saylor⚡️ @saylor
MicroStrategy has purchased an additional 7,002 bitcoins for ~$414.4 million in cash at an average price of ~$59,187 per #bitcoin. As of 11/29/21 we #hodl ~121,044 bitcoins acquired for ~$3.57 billion at an average price of ~$29,534 per bitcoin. $MSTR
microstrategy.comMicroStrategy Acquires Additional 7,002 BitcoinsMicroStrategy’s business analytics and mobility platform helps enterprises build and deploy analytics and mobility apps to transform their business.
1:03 PM ∙ Nov 29, 2021
47,259Likes9,272Retweets

What’s the lesson? Invest less money into Bitcoin than this guy and he will prop up your trade!


Bitcoin Outlook

Bitcoin is experiencing the most boring TA ever! We aren’t even going to elaborate. If you are new here just see last weeks Cheat Sheet for the TA breakdown.

Possible Course of Action

  • If not long this could be a good entry

  • You could try a short if the price is threatening to break the bottom of this handle

  • Get long on a breakout from this handle

The Bulls’ Defense:

  • Multi-month cup & handle pattern

The Bears’ Prosecution:

  • Price weakness could see $50k be retested within the handle


Earn Interest on your Bitcoin

ETH OUTLOOK

ETH is looking stronger than BTC here. There is a good chance we head back into a regime where ETH outperforms BTC in the short term. It looks like after ETH failed to breakout from a potential double bottom it crashed again making a new local low but then found support at a higher low. This show of support lead to ETH rising back to the price cluster above $4500k. Resistance is now the ATH.

There’s not strong target here, but we want to reiterate that it looks like ETH may out perform BTC in the near/short term.

Possible Course of Action

  • Long here expecting a retest of ATH

  • Could try opening a short near ATH for a potential correction

The Bulls’ Defense:

  • EIP-1559 has burned $4,932,597,677 (1,063,797 ETH) so far. Supply constraints should continue to have a positive impact on price.

  • Inverse Head and Shoulders

The Bears’ Prosecution:

  • Failure to break ATH could result in multi-week (or month) consolidation


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www.cryptofootguns.com
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