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FG Cheat Sheet 120721

www.cryptofootguns.com

FG Cheat Sheet 120721

Bitcoin rises 2% overnight

Dec 7, 2021
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Hal and Boomer discuss their short-term outlook on crypto and broader markets, and Hal laments being blocked by Will Clemente (one of his personal heroes) on Twitter.


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.


The Decentralized Reserve Currency

Don’t miss out! This Ponzi wont stay on sale long. Available at any local decentralized exchanges near you.

Crypto News

  • Ethereum Balance On Exchanges Plunges To A Three-Year Low

  • Could Syscoin’s Smart-Contract Chain Launch Mark a Turning Point for Ethereum?

  • Web3? I have my DAOts

  • Endgame -Vitalik Buterin

  • One of the largest Bitcoin Whales purchased another 2702 Bitcoin

  • Bitcoin trial: Defendant wins dispute over $50B in Bitcoin

  • World’s First Bitcoin Lightning Payroll Processed by BitWage

  • Bitcoin miners say they’re helping to fix the broken Texas electric grid — and Ted Cruz agrees

  • Joe Biden’s Government is Mining Bitcoin, Says White House Adviser


Twitter avatar for @DunkinDAOnuts
Dunkin’ DAOnuts (🍩,🍩) @DunkinDAOnuts
we are gonna decentralize the fuck out of donuts
10:02 PM ∙ Dec 5, 2021
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Bitcoin Outlook

BTC is almost literally a pinball bouncing back and forth between what humans love most : Big Round Numbers. Throw your TA out the door and draw lines at $30k,$40k,$50k, etc… and the BTC story becomes clear. No one knows how to value this thing. On chain analysts are always a week behind, and even PlanB’s floor model has now missed the boat. Willy Woo (whose newsletter is 6x as more expensive as Foot Guns) posted some cryptic indicator with no explanation that appears to have crashed the markets a few days later.

The point is. No one knows where this is going. We are just here to help cut through the hype and noise.

Look at the chart above. BTC is simply bouncing around between Big Round Numbers.

And where do we go from here? Well the price wicked trying to touch $40k (on some exchanges it touched $30k) and now it’s back above $50k. So… that’s right! It’s probably going to go touch $60k again. Wherever the price goes you can bet it will be towards some Big Round Number.

Possible Course of Action

  • If not long this could be a good entry

  • No obvious short play here, but check out yesterdays newsletter about how to short sell in DeFi

The Bulls’ Defense:

  • $40k and $50k tested, $60k is up from here!

The Bears’ Prosecution:

  • Multi-week downtrend could continue


CAUTION - There was an exploit last week affecting some badger users. Please follow these instructions if you think you may have been affected. We’ll write more about the post-mortem when the information is available. For now you can follow the investigation here.

Earn Interest on your Bitcoin

ETH OUTLOOK

ETH’s price action has become a hot mess. We pointed out that once the price broke down from its “up and to the right” run from October to early November, that ETH would most likely fall into a multi-week or multi-month consolidation phase. Well, that consolidation is happening now but not without extreme volatility. With this price action you should be caution trading with leverage.

Boomer’s take was the just get out of ETH at $4000 and if you had followed that move you’d be sitting calmly watching everyone else sweat trying to capture a +10-20% move with equal downside.

Just as with BTC, ETH will probably go find it’s next home near a Big Round Number, either $4k again or $5k. There’s no obvious bias in the TA (always be checking the cheat sheet).

Possible Course of Action

  • Long here expecting a retest of ATH

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

  • A short on a break down from $4000 could work

The Bulls’ Defense:

  • EIP-1559 has burned $4,975,514,133 (1,137,721 ETH) so far. Supply constraints should continue to have a positive impact on price.

The Bears’ Prosecution:

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


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